Acadian Asset Management LLC bought a new position in Black Stone Minerals LP (NYSE:BSM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,310 shares of the oil and gas producer’s stock, valued at approximately $221,000.
Other large investors have also recently made changes to their positions in the company. Westwood Holdings Group Inc. purchased a new position in shares of Black Stone Minerals during the 2nd quarter valued at about $234,000. Alliancebernstein L.P. lifted its position in shares of Black Stone Minerals by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 18,468 shares of the oil and gas producer’s stock valued at $291,000 after buying an additional 1,034 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Black Stone Minerals during the 3rd quarter valued at about $478,000. Sterling Capital Management LLC lifted its position in shares of Black Stone Minerals by 13.7% during the 3rd quarter. Sterling Capital Management LLC now owns 34,794 shares of the oil and gas producer’s stock valued at $603,000 after buying an additional 4,191 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Black Stone Minerals by 6.3% during the 4th quarter. Bank of Montreal Can now owns 90,527 shares of the oil and gas producer’s stock valued at $1,624,000 after buying an additional 5,327 shares in the last quarter. 23.14% of the stock is currently owned by institutional investors and hedge funds.
Black Stone Minerals LP (NYSE BSM) opened at $17.36 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.46. Black Stone Minerals LP has a twelve month low of $15.12 and a twelve month high of $19.03. The company has a market capitalization of $1,806.36, a P/E ratio of 20.42 and a beta of 0.30.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th will be issued a $0.3125 dividend. The ex-dividend date is Friday, February 16th. This represents a $1.25 dividend on an annualized basis and a yield of 7.20%. Black Stone Minerals’s dividend payout ratio is presently 147.06%.
In related news, CFO Jeffrey P. Wood sold 10,810 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $18.30, for a total value of $197,823.00. Following the transaction, the chief financial officer now directly owns 53,031 shares of the company’s stock, valued at approximately $970,467.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Luke Stevens Putman sold 23,170 shares of Black Stone Minerals stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $18.28, for a total value of $423,547.60. Following the completion of the sale, the senior vice president now directly owns 257,141 shares in the company, valued at approximately $4,700,537.48. The disclosure for this sale can be found here. 25.00% of the stock is currently owned by insiders.
BSM has been the topic of a number of analyst reports. Zacks Investment Research cut Black Stone Minerals from a “buy” rating to a “sell” rating in a research report on Thursday, October 26th. TheStreet cut Black Stone Minerals from a “b-” rating to a “c” rating in a research report on Monday, October 30th. Barclays set a $18.00 price objective on Black Stone Minerals and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus started coverage on Black Stone Minerals in a report on Wednesday, January 17th. They issued a “hold” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.40.
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Black Stone Minerals Company Profile
Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.
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