Optimum Investment Advisors purchased a new stake in Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 3,000 shares of the oil and gas producer’s stock, valued at approximately $51,000.
Several other hedge funds and other institutional investors have also modified their holdings of BSM. UBS Group AG boosted its holdings in shares of Black Stone Minerals by 12,416.2% in the 1st quarter. UBS Group AG now owns 1,587,809 shares of the oil and gas producer’s stock valued at $21,372,000 after buying an additional 1,575,123 shares during the period. ING Groep NV lifted its position in Black Stone Minerals by 235.4% in the 3rd quarter. ING Groep NV now owns 382,300 shares of the oil and gas producer’s stock valued at $5,983,000 after purchasing an additional 268,300 shares during the last quarter. HighTower Trust Company N.A. bought a new stake in Black Stone Minerals in the 3rd quarter valued at about $3,983,000. O Brien Greene & Co. Inc lifted its position in Black Stone Minerals by 200.0% in the 3rd quarter. O Brien Greene & Co. Inc now owns 330,000 shares of the oil and gas producer’s stock valued at $5,164,000 after purchasing an additional 220,000 shares during the last quarter. Finally, Ancora Advisors LLC lifted its position in Black Stone Minerals by 29.2% in the 1st quarter. Ancora Advisors LLC now owns 870,043 shares of the oil and gas producer’s stock valued at $7,587,000 after purchasing an additional 196,837 shares during the last quarter. 16.46% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BSM has been the topic of several recent research reports. Raymond James downgraded shares of Black Stone Minerals from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $20.00 to $19.00 in a research report on Monday, February 6th. KeyCorp cut their price objective on shares of Black Stone Minerals from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, December 8th. Piper Sandler dropped their price target on shares of Black Stone Minerals from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 7th. Finally, StockNews.com downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Black Stone Minerals has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.
Black Stone Minerals Stock Down 0.3 %
Black Stone Minerals Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 23rd. Investors of record on Thursday, February 16th were issued a $0.475 dividend. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a dividend yield of 13.28%. The ex-dividend date was Wednesday, February 15th. Black Stone Minerals’s payout ratio is presently 90.48%.
Insider Buying and Selling
In other Black Stone Minerals news, Director D Mark Dewalch bought 31,150 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were acquired at an average cost of $15.85 per share, for a total transaction of $493,727.50. Following the acquisition, the director now directly owns 260,879 shares of the company’s stock, valued at $4,134,932.15. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Black Stone Minerals news, Director D Mark Dewalch bought 31,150 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were acquired at an average cost of $15.85 per share, for a total transaction of $493,727.50. Following the acquisition, the director now directly owns 260,879 shares of the company’s stock, valued at $4,134,932.15. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was acquired at an average price of $15.58 per share, for a total transaction of $467,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,620,991 shares in the company, valued at $40,835,039.78. The disclosure for this purchase can be found here. Insiders have acquired 93,650 shares of company stock worth $1,459,028 in the last ninety days. 21.10% of the stock is currently owned by corporate insiders.
Black Stone Minerals Company Profile
Black Stone Minerals LP is an exploration company. The firm engages in the exploration of oil and natural gas minerals. It focuses on the operation of Louisiana-Mississippi Salt Basins, Western Gulf, Permian Basin, Palo Duro Basin, East Texas Basin, Anadarko Basin, Appalachian Basin, Arkoma Basin, Bend Arch-Fort Worth, and Southwestern Wyoming.
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