Cadence Bank Raises Stock Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

Cadence Bank boosted its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,350 shares of the oil and gas producer’s stock after buying an additional 784 shares during the period. Cadence Bank’s holdings in Black Stone Minerals were worth $421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSM. Global Retirement Partners LLC purchased a new stake in Black Stone Minerals in the 4th quarter valued at about $135,000. Colonial River Wealth Management LLC acquired a new position in Black Stone Minerals in the 4th quarter valued at about $269,000. Autumn Glory Partners LLC grew its position in Black Stone Minerals by 81.3% in the 4th quarter. Autumn Glory Partners LLC now owns 44,600 shares of the oil and gas producer’s stock valued at $712,000 after acquiring an additional 20,000 shares in the last quarter. International Assets Investment Management LLC grew its position in Black Stone Minerals by 1,296.7% in the 4th quarter. International Assets Investment Management LLC now owns 223,647 shares of the oil and gas producer’s stock valued at $3,569,000 after acquiring an additional 207,634 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Black Stone Minerals in the 4th quarter valued at about $5,869,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock traded up $0.04 on Friday, reaching $15.38. 577,141 shares of the company were exchanged, compared to its average volume of 459,005. Black Stone Minerals, L.P. has a 1-year low of $14.88 and a 1-year high of $18.55. The company has a market cap of $3.23 billion, a P/E ratio of 9.95 and a beta of 0.93. The stock’s 50 day moving average price is $15.78 and its 200-day moving average price is $15.87.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. The company had revenue of $105.49 million for the quarter, compared to analyst estimates of $119.50 million. On average, research analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 9th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.75%. The ex-dividend date of this dividend is Friday, August 9th. Black Stone Minerals’s dividend payout ratio is presently 97.40%.

Wall Street Analyst Weigh In

Separately, KeyCorp started coverage on Black Stone Minerals in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.50.

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.