Short Interest in Black Stone Minerals, L.P. (NYSE:BSM) Decreases By 11.6%

Black Stone Minerals, L.P. (NYSE:BSM) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 4,570,000 shares, a decline of 11.6% from the May 31st total of 5,170,000 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 447,100 shares, the short-interest ratio is currently 10.2 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC bought a new stake in Black Stone Minerals during the first quarter worth $26,000. HBC Financial Services PLLC purchased a new stake in Black Stone Minerals in the fourth quarter worth $31,000. Newbridge Financial Services Group Inc. lifted its position in shares of Black Stone Minerals by 279.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 2,236 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Black Stone Minerals during the 4th quarter valued at approximately $100,000. Finally, SG Americas Securities LLC bought a new position in shares of Black Stone Minerals in the first quarter worth $102,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSM has been the subject of several research reports. Piper Sandler lifted their price target on Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. KeyCorp initiated coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Black Stone Minerals has a consensus rating of “Hold” and a consensus price target of $19.33.

Black Stone Minerals Price Performance

Black Stone Minerals stock traded down $0.02 during trading hours on Wednesday, hitting $15.83. The company had a trading volume of 275,947 shares, compared to its average volume of 471,892. The firm has a 50-day moving average of $15.96 and a 200 day moving average of $15.94. Black Stone Minerals has a one year low of $14.88 and a one year high of $18.55. The firm has a market cap of $3.33 billion, a PE ratio of 10.27 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, May 6th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.08). The business had revenue of $105.49 million for the quarter, compared to analyst estimates of $119.50 million. Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. As a group, research analysts expect that Black Stone Minerals will post 1.47 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 10th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 9.48%. The ex-dividend date of this dividend was Thursday, May 9th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 97.40%.

Black Stone Minerals Company 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.