RWA Wealth Partners LLC Sells 836 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

RWA Wealth Partners LLC trimmed its position in Black Stone Minerals, L.P. (NYSE:BSM) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,762 shares of the oil and gas producer’s stock after selling 836 shares during the quarter. RWA Wealth Partners LLC owned about 0.06% of Black Stone Minerals worth $2,215,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in shares of Black Stone Minerals by 18.5% in the third quarter. HighTower Advisors LLC now owns 361,904 shares of the oil and gas producer’s stock worth $6,239,000 after purchasing an additional 56,468 shares during the last quarter. Citigroup Inc. increased its stake in Black Stone Minerals by 9,778.6% during the third quarter. Citigroup Inc. now owns 39,218 shares of the oil and gas producer’s stock worth $676,000 after acquiring an additional 38,821 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Black Stone Minerals during the fourth quarter worth approximately $5,869,000. International Assets Investment Management LLC increased its stake in Black Stone Minerals by 1,296.7% during the fourth quarter. International Assets Investment Management LLC now owns 223,647 shares of the oil and gas producer’s stock worth $3,569,000 after acquiring an additional 207,634 shares during the last quarter. Finally, ING Groep NV increased its stake in Black Stone Minerals by 50.8% during the third quarter. ING Groep NV now owns 384,800 shares of the oil and gas producer’s stock worth $6,630,000 after acquiring an additional 129,600 shares during the last quarter. 14.49% of the stock is owned by institutional investors.

Black Stone Minerals Stock Performance

BSM opened at $15.75 on Wednesday. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 8.42 and a beta of 0.92. The stock’s 50 day moving average price is $15.70 and its 200-day moving average price is $16.44. Black Stone Minerals, L.P. has a one year low of $14.80 and a one year high of $18.55.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. The firm had revenue of $190.84 million for the quarter, compared to analysts’ expectations of $142.67 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. As a group, analysts predict that Black Stone Minerals, L.P. will post 1.41 earnings per share for the current fiscal year.

Black Stone Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a $0.375 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.50 annualized dividend and a yield of 9.52%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 101.60%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BSM shares. Stifel Nicolaus reduced their price objective on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Piper Sandler upped their target price on Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th.

Insider Buying and Selling

In other news, Director D Mark Dewalch acquired 3,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $15.47 per share, with a total value of $50,277.50. Following the completion of the purchase, the director now directly owns 320,436 shares in the company, valued at $4,957,144.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.60% of the stock is owned by insiders.

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.