Oppenheimer & Co. Inc. purchased a new position in shares of Black Stone Minerals LP (NYSE:BSM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,000 shares of the oil and gas producer’s stock, valued at approximately $387,000.
Several other institutional investors and hedge funds have also modified their holdings of BSM. CI Global Investments Inc. grew its stake in shares of Black Stone Minerals by 23.7% during the 3rd quarter. CI Global Investments Inc. now owns 7,029,246 shares of the oil and gas producer’s stock worth $128,003,000 after acquiring an additional 1,348,665 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Black Stone Minerals during the 3rd quarter worth approximately $6,255,000. Renaissance Technologies LLC grew its stake in shares of Black Stone Minerals by 1,314.8% during the 2nd quarter. Renaissance Technologies LLC now owns 284,755 shares of the oil and gas producer’s stock worth $5,265,000 after acquiring an additional 264,628 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Black Stone Minerals by 432.3% during the 4th quarter. Bank of Montreal Can now owns 125,080 shares of the oil and gas producer’s stock worth $1,936,000 after acquiring an additional 101,580 shares in the last quarter. Finally, Gruss & Co. Inc. grew its stake in shares of Black Stone Minerals by 32.9% during the 3rd quarter. Gruss & Co. Inc. now owns 362,264 shares of the oil and gas producer’s stock worth $6,597,000 after acquiring an additional 89,766 shares in the last quarter. 14.36% of the stock is owned by institutional investors.
In related news, Director William N. Mathis acquired 11,400 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was bought at an average price of $16.79 per share, with a total value of $191,406.00. Following the acquisition, the director now owns 74,021 shares in the company, valued at approximately $1,242,812.59. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke Stevens Putman sold 34,002 shares of the stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $16.34, for a total value of $555,592.68. Following the completion of the sale, the senior vice president now directly owns 263,056 shares of the company’s stock, valued at approximately $4,298,335.04. The disclosure for this sale can be found here. In the last three months, insiders bought 27,875 shares of company stock valued at $459,924. 25.10% of the stock is currently owned by insiders.
BSM has been the subject of several research reports. Zacks Investment Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating and set a $19.00 price target for the company in a research note on Thursday, October 25th. Raymond James set a $21.00 price objective on Black Stone Minerals and gave the company a “buy” rating in a report on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.25.
NYSE BSM opened at $16.90 on Monday. The company has a market capitalization of $3.46 billion, a PE ratio of 16.73 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.02 and a quick ratio of 1.02. Black Stone Minerals LP has a 12 month low of $15.23 and a 12 month high of $19.29.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 19th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.76%. The ex-dividend date is Friday, February 15th. Black Stone Minerals’s payout ratio is presently 146.53%.
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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 in 64 onshore basins in the continental United States.
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