Virtus ETF Advisers LLC Acquires Shares of 143,586 Black Stone Minerals LP (NYSE:BSM)

Virtus ETF Advisers LLC acquired a new stake in Black Stone Minerals LP (NYSE:BSM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 143,586 shares of the oil and gas producer’s stock, valued at approximately $2,226,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arlington Partners LLC acquired a new stake in shares of Black Stone Minerals in the second quarter valued at about $29,000. Diversified Trust Co acquired a new stake in shares of Black Stone Minerals in the second quarter valued at about $213,000. Sunbelt Securities Inc. acquired a new stake in shares of Black Stone Minerals in the second quarter valued at about $310,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Black Stone Minerals in the second quarter valued at about $329,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Black Stone Minerals in the first quarter valued at about $411,000. 23.04% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on BSM. Zacks Investment Research upgraded shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. TheStreet lowered shares of Black Stone Minerals from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Citigroup set a $16.00 target price on shares of Black Stone Minerals and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, ValuEngine lowered shares of Black Stone Minerals from a “hold” rating to a “sell” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Black Stone Minerals has a consensus rating of “Hold” and an average target price of $20.25.

Shares of NYSE BSM traded down $0.04 during trading on Friday, hitting $14.58. The company had a trading volume of 10,153 shares, compared to its average volume of 188,831. The stock has a fifty day simple moving average of $14.44 and a two-hundred day simple moving average of $16.30. Black Stone Minerals LP has a fifty-two week low of $13.61 and a fifty-two week high of $18.77. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 10.04 and a beta of 0.58. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.52.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.48 annualized dividend and a dividend yield of 10.15%. Black Stone Minerals’s dividend payout ratio (DPR) is 102.07%.

Black Stone Minerals Company Profile

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.

Further Reading: Neutral Rating

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Institutional Ownership by Quarter for Black Stone Minerals (NYSE:BSM)

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