Cullen Frost Bankers Inc. Sells 2,284 Shares of Black Stone Minerals LP (NYSE:BSM)

Cullen Frost Bankers Inc. cut its holdings in Black Stone Minerals LP (NYSE:BSM) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,615 shares of the oil and gas producer’s stock after selling 2,284 shares during the period. Cullen Frost Bankers Inc.’s holdings in Black Stone Minerals were worth $3,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of BSM. State of Tennessee Treasury Department bought a new position in Black Stone Minerals in the fourth quarter valued at $479,000. Capital Directions Investment Advisors LLC increased its stake in Black Stone Minerals by 42.9% in the fourth quarter. Capital Directions Investment Advisors LLC now owns 67,304 shares of the oil and gas producer’s stock valued at $856,000 after acquiring an additional 20,220 shares during the last quarter. US Bancorp DE increased its stake in Black Stone Minerals by 121.5% in the fourth quarter. US Bancorp DE now owns 12,950 shares of the oil and gas producer’s stock valued at $165,000 after acquiring an additional 7,103 shares during the last quarter. First Trust Advisors LP increased its stake in Black Stone Minerals by 34.9% in the fourth quarter. First Trust Advisors LP now owns 573,768 shares of the oil and gas producer’s stock valued at $7,298,000 after acquiring an additional 148,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Black Stone Minerals by 134.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 124,000 shares of the oil and gas producer’s stock valued at $1,577,000 after acquiring an additional 71,000 shares during the last quarter. 23.93% of the stock is owned by hedge funds and other institutional investors.

NYSE BSM opened at $10.03 on Friday. The company has a 50-day simple moving average of $11.66 and a two-hundred day simple moving average of $13.00. The company has a quick ratio of 5.27, a current ratio of 5.27 and a debt-to-equity ratio of 0.49. Black Stone Minerals LP has a 12-month low of $9.47 and a 12-month high of $18.77. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 7.45 and a beta of 0.58.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 17th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 11.96%. Black Stone Minerals’s payout ratio is 82.76%.

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

A number of research analysts recently commented on BSM shares. Royal Bank of Canada reissued a “buy” rating and issued a $17.00 target price on shares of Black Stone Minerals in a research note on Monday, January 20th. Zacks Investment Research cut Black Stone Minerals from a “hold” rating to a “sell” rating in a research note on Monday, January 20th. ValuEngine raised Black Stone Minerals from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Scotiabank cut Black Stone Minerals from an “outperform” rating to a “sector perform” rating and set a $14.00 target price on the stock. in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $14.00 target price on shares of Black Stone Minerals in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Black Stone Minerals presently has an average rating of “Hold” and a consensus target price of $16.19.

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

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