150,245 Shares in Black Stone Minerals, L.P. (NYSE:BSM) Bought by LMG Wealth Partners LLC

LMG Wealth Partners LLC acquired a new stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 150,245 shares of the oil and gas producer’s stock, valued at approximately $2,194,000. LMG Wealth Partners LLC owned about 0.07% of Black Stone Minerals as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Penn Davis Mcfarland Inc. raised its position in shares of Black Stone Minerals by 18.1% during the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer’s stock valued at $23,377,000 after buying an additional 245,009 shares in the last quarter. Fiducient Advisors LLC purchased a new stake in Black Stone Minerals during the third quarter valued at approximately $12,253,000. ING Groep NV lifted its stake in shares of Black Stone Minerals by 5.9% in the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock valued at $9,859,000 after purchasing an additional 36,300 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Black Stone Minerals by 2.3% in the 3rd quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock worth $7,111,000 after purchasing an additional 10,465 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of Black Stone Minerals by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock valued at $6,113,000 after purchasing an additional 6,898 shares during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Stock Performance

Shares of NYSE BSM opened at $15.33 on Thursday. Black Stone Minerals, L.P. has a fifty-two week low of $13.78 and a fifty-two week high of $16.92. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 9.46 and a beta of 0.94. The business’s 50 day moving average price is $14.77 and its 200-day moving average price is $14.86.

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.375 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.50 annualized dividend and a dividend yield of 9.79%. Black Stone Minerals’s dividend payout ratio (DPR) is 92.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BSM. Piper Sandler lowered their price target on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th.

Black Stone Minerals 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.