Texas Children s lifted its position in Black Stone Minerals LP (NYSE:BSM) by 106.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,689,939 shares of the oil and gas producer’s stock after purchasing an additional 2,421,347 shares during the period. Black Stone Minerals comprises about 89.2% of Texas Children s’ portfolio, making the stock its biggest holding. Texas Children s owned about 2.29% of Black Stone Minerals worth $72,694,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Virtus ETF Advisers LLC acquired a new position in Black Stone Minerals during the second quarter worth $2,226,000. HighTower Advisors LLC raised its position in Black Stone Minerals by 55.1% during the second quarter. HighTower Advisors LLC now owns 252,667 shares of the oil and gas producer’s stock worth $3,919,000 after acquiring an additional 89,725 shares during the period. Eagle Global Advisors LLC raised its position in Black Stone Minerals by 415.9% during the second quarter. Eagle Global Advisors LLC now owns 79,122 shares of the oil and gas producer’s stock worth $1,226,000 after acquiring an additional 63,786 shares during the period. EdgePoint Investment Group Inc. raised its position in Black Stone Minerals by 52.2% during the second quarter. EdgePoint Investment Group Inc. now owns 2,768,699 shares of the oil and gas producer’s stock worth $42,915,000 after acquiring an additional 950,151 shares during the period. Finally, Brown Advisory Inc. raised its position in Black Stone Minerals by 58.3% during the second quarter. Brown Advisory Inc. now owns 1,698,942 shares of the oil and gas producer’s stock worth $26,334,000 after acquiring an additional 625,685 shares during the period. Hedge funds and other institutional investors own 23.04% of the company’s stock.
A number of equities analysts have weighed in on BSM shares. Zacks Investment Research upgraded shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. TheStreet lowered shares of Black Stone Minerals from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Citigroup set a $16.00 target price on shares of Black Stone Minerals and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, ValuEngine lowered shares of Black Stone Minerals from a “hold” rating to a “sell” rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $20.25.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.16%. The ex-dividend date of this dividend was Wednesday, August 14th. Black Stone Minerals’s payout ratio is 102.07%.
Black Stone Minerals Profile
Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and 64 onshore basins in the continental United States.
Further Reading: What is a put option?
Want to see what other hedge funds are holding BSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Black Stone Minerals LP (NYSE:BSM).
Receive News & Ratings for Black Stone Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Stone Minerals and related companies with MarketBeat.com's FREE daily email newsletter.