ING Groep NV Increases Stake in Black Stone Minerals, L.P. $BSM

ING Groep NV increased its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 42.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 728,600 shares of the oil and gas producer’s stock after purchasing an additional 218,900 shares during the period. ING Groep NV’s holdings in Black Stone Minerals were worth $9,683,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Black Stone Minerals by 61.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 900 shares during the period. Newbridge Financial Services Group Inc. boosted its position in Black Stone Minerals by 65.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock valued at $66,000 after buying an additional 1,962 shares during the period. Tower Research Capital LLC TRC boosted its position in Black Stone Minerals by 7,822.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock valued at $95,000 after buying an additional 7,197 shares during the period. Lido Advisors LLC purchased a new stake in Black Stone Minerals during the 4th quarter valued at $134,000. Finally, Novare Capital Management LLC purchased a new stake in Black Stone Minerals during the 4th quarter valued at $191,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Trading Down 0.1%

NYSE:BSM opened at $13.88 on Monday. The company has a 50-day moving average price of $14.02 and a 200-day moving average price of $14.31. Black Stone Minerals, L.P. has a 12 month low of $11.78 and a 12 month high of $15.49. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 10.93 and a beta of 0.05.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The company had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million. Equities analysts predict that Black Stone Minerals, L.P. will post 0.97 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend was Friday, May 8th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 94.49%.

Analysts Set New Price Targets

Several brokerages have weighed in on BSM. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada began coverage on shares of Black Stone Minerals in a research report on Friday, May 29th. They set a “sector perform” rating and a $16.00 price target for the company. Finally, Piper Sandler increased their price target on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $15.00.

Insider Buying and Selling at Black Stone Minerals

In related news, Director Ashley J. Longmaid sold 11,128 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total value of $149,671.60. Following the completion of the transaction, the director directly owned 137,335 shares in the company, valued at $1,847,155.75. This trade represents a 7.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke Stevens Putman sold 29,386 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $13.75, for a total transaction of $404,057.50. Following the completion of the transaction, the senior vice president owned 702,645 shares of the company’s stock, valued at approximately $9,661,368.75. The trade was a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have purchased 179,254 shares of company stock valued at $2,407,265 and have sold 69,900 shares valued at $978,357. 17.80% of the stock is owned by corporate insiders.

About Black Stone Minerals

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.