Virtus ETF Advisers LLC bought a new position in Black Stone Minerals LP (NYSE:BSM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 143,586 shares of the oil and gas producer’s stock, valued at approximately $2,226,000. Virtus ETF Advisers LLC owned approximately 0.07% of Black Stone Minerals at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Arlington Partners LLC bought a new position in Black Stone Minerals in the 2nd quarter worth about $29,000. Diversified Trust Co bought a new position in shares of Black Stone Minerals during the second quarter valued at approximately $213,000. Sunbelt Securities Inc. bought a new position in shares of Black Stone Minerals during the second quarter valued at approximately $310,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Black Stone Minerals during the second quarter valued at approximately $329,000. Finally, Alps Advisors Inc. bought a new position in shares of Black Stone Minerals during the first quarter valued at approximately $411,000. Institutional investors and hedge funds own 23.04% of the company’s stock.
A number of research firms have recently issued reports on BSM. Citigroup set a $16.00 price objective on shares of Black Stone Minerals and gave the company a “buy” rating in a research note on Monday, August 12th. ValuEngine downgraded shares of Black Stone Minerals from a “hold” rating to a “sell” rating in a research note on Monday, June 24th. TheStreet downgraded shares of Black Stone Minerals from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Finally, Zacks Investment Research upgraded shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Black Stone Minerals currently has an average rating of “Hold” and an average target price of $20.25.
BSM traded down $0.04 during trading on Friday, hitting $14.58. The stock had a trading volume of 10,153 shares, compared to its average volume of 188,831. The company has a market capitalization of $3.01 billion, a PE ratio of 10.04 and a beta of 0.58. Black Stone Minerals LP has a twelve month low of $13.61 and a twelve month high of $18.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a 50 day simple moving average of $14.44 and a two-hundred day simple moving average of $16.30.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.37 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.48 annualized dividend and a yield of 10.15%. Black Stone Minerals’s dividend payout ratio (DPR) is 102.07%.
About Black Stone Minerals
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.
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