Virtu Financial LLC Makes New Investment in Black Stone Minerals, L.P. (NYSE:BSM)

Virtu Financial LLC bought a new stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the fourth quarter, Holdings Channel reports. The firm bought 34,374 shares of the oil and gas producer’s stock, valued at approximately $502,000.

Several other hedge funds and other institutional investors have also modified their holdings of BSM. Jones Financial Companies Lllp grew its stake in shares of Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 1,000 shares in the last quarter. Larson Financial Group LLC acquired a new position in Black Stone Minerals during the third quarter worth $54,000. JPMorgan Chase & Co. bought a new position in Black Stone Minerals during the third quarter valued at about $76,000. Corps Capital Advisors LLC acquired a new stake in shares of Black Stone Minerals in the fourth quarter worth about $231,000. Finally, Moody National Bank Trust Division boosted its stake in shares of Black Stone Minerals by 35.2% during the 4th quarter. Moody National Bank Trust Division now owns 18,913 shares of the oil and gas producer’s stock worth $276,000 after acquiring an additional 4,924 shares in the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BSM shares. Royal Bank of Canada raised Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th. Piper Sandler lifted their price target on shares of Black Stone Minerals from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Finally, StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Black Stone Minerals Stock Performance

NYSE BSM opened at $15.27 on Wednesday. The stock has a 50-day simple moving average of $15.04 and a 200 day simple moving average of $14.93. Black Stone Minerals, L.P. has a twelve month low of $13.78 and a twelve month high of $16.92. The stock has a market capitalization of $3.22 billion, a PE ratio of 9.43 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.21). Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The company had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. As a group, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 9.82%. The ex-dividend date of this dividend was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 130.43%.

Black Stone Minerals Profile

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.