Axxcess Wealth Management LLC Has $283,000 Stock Position in Black Stone Minerals, L.P. (NYSE:BSM)

Axxcess Wealth Management LLC lifted its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,415 shares of the oil and gas producer’s stock after acquiring an additional 1,790 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Black Stone Minerals were worth $283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BSM. Citigroup Inc. increased its position in shares of Black Stone Minerals by 2.3% in the third quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock valued at $7,111,000 after acquiring an additional 10,465 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Black Stone Minerals in the third quarter valued at about $54,000. Horizon Kinetics Asset Management LLC increased its position in shares of Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after acquiring an additional 109,500 shares during the last quarter. Cadence Bank increased its position in shares of Black Stone Minerals by 2.6% in the third quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock valued at $418,000 after acquiring an additional 689 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its position in shares of Black Stone Minerals by 47.3% in the third quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer’s stock valued at $291,000 after acquiring an additional 6,200 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company’s stock.

Analyst Ratings Changes

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

Black Stone Minerals Stock Down 0.6 %

Shares of NYSE BSM opened at $15.26 on Friday. The business’s 50 day moving average price is $15.04 and its two-hundred day moving average price is $14.91. The company has a market cap of $3.22 billion, a PE ratio of 9.42 and a beta of 0.92. Black Stone Minerals, L.P. has a twelve month low of $13.78 and a twelve month high of $16.92.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $83.73 million for the quarter, compared to the consensus estimate of $115.46 million. As a group, research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.83%. The ex-dividend date of this dividend was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio is presently 130.43%.

About Black Stone Minerals

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.