Cullen Frost Bankers Inc. Has $3.12 Million Stake in Black Stone Minerals LP (NYSE:BSM)

Cullen Frost Bankers Inc. trimmed its holdings in Black Stone Minerals LP (NYSE:BSM) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,615 shares of the oil and gas producer’s stock after selling 2,284 shares during the period. Cullen Frost Bankers Inc. owned 0.12% of Black Stone Minerals worth $3,124,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Black Stone Minerals by 6.7% during the second quarter. Royal Bank of Canada now owns 48,715 shares of the oil and gas producer’s stock worth $755,000 after purchasing an additional 3,061 shares during the period. Howard Financial Services LTD. increased its stake in shares of Black Stone Minerals by 7.7% during the fourth quarter. Howard Financial Services LTD. now owns 66,822 shares of the oil and gas producer’s stock worth $850,000 after purchasing an additional 4,786 shares during the period. Kempner Capital Management Inc. increased its stake in shares of Black Stone Minerals by 35.6% during the fourth quarter. Kempner Capital Management Inc. now owns 383,116 shares of the oil and gas producer’s stock worth $4,873,000 after purchasing an additional 100,590 shares during the period. Stifel Financial Corp increased its stake in shares of Black Stone Minerals by 48.4% during the third quarter. Stifel Financial Corp now owns 109,507 shares of the oil and gas producer’s stock worth $1,559,000 after purchasing an additional 35,693 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Black Stone Minerals by 352.3% during the third quarter. California Public Employees Retirement System now owns 185,977 shares of the oil and gas producer’s stock worth $2,648,000 after purchasing an additional 144,862 shares during the period. 23.93% of the stock is owned by institutional investors.

In other news, CAO Dawn Smajstrla sold 4,707 shares of Black Stone Minerals stock in a transaction on Thursday, January 9th. The stock was sold at an average price of $13.25, for a total value of $62,367.75. Following the transaction, the chief accounting officer now owns 42,673 shares in the company, valued at approximately $565,417.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Luke Stevens Putman sold 30,000 shares of Black Stone Minerals stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $12.99, for a total value of $389,700.00. Following the completion of the transaction, the senior vice president now owns 352,226 shares in the company, valued at approximately $4,575,415.74. The disclosure for this sale can be found here. 24.40% of the stock is owned by company insiders.

Black Stone Minerals stock opened at $10.03 on Friday. The stock’s fifty day moving average price is $11.66 and its two-hundred day moving average price is $13.00. Black Stone Minerals LP has a one year low of $9.47 and a one year high of $18.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 5.27 and a quick ratio of 5.27. The firm has a market cap of $2.06 billion, a PE ratio of 7.45 and a beta of 0.58.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 17th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 11.96%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 82.76%.

A number of research firms have commented on BSM. ValuEngine upgraded Black Stone Minerals from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Scotiabank lowered Black Stone Minerals from an “outperform” rating to a “sector perform” rating and set a $14.00 price objective on the stock. in a research note on Tuesday, November 26th. KeyCorp began coverage on Black Stone Minerals in a research note on Wednesday, January 22nd. They set a “sector weight” rating and a $11.50 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $14.00 price objective on shares of Black Stone Minerals in a research note on Thursday, February 6th. Finally, Zacks Investment Research lowered Black Stone Minerals from a “hold” rating to a “sell” rating in a research note on Monday, January 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $16.19.

Black Stone Minerals 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.

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

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