Forum Financial Management LP Invests $3.99 Million in Black Stone Minerals, L.P. $BSM

Key Points

• Forum Financial Management LP opened a new position of 300,000 shares (~$3.99M) in Black Stone Minerals during Q4, representing about 0.14% of the company; institutional ownership stands near 14.49%.
• Black Stone Minerals beat estimates with Q EPS of $0.31 (vs. $0.27) and revenue of $118.7M, and it pays a quarterly dividend of $0.30 (annualized $1.20) for a yield of 8.8% and a 93.75% payout ratio.
• Research firms hold a consensus Hold rating with a $14.00 price target, while insiders own about 17.8% of shares and the SVP recently sold 30,276 shares at $15.25.

Forum Financial Management LP purchased a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 300,000 shares of the oil and gas producer's stock, valued at approximately $3,987,000. Forum Financial Management LP owned 0.14% 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 stock. Doliver Advisors LP grew its stake in shares of Black Stone Minerals by 2.5% during the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer's stock worth $465,000 after purchasing an additional 850 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Black Stone Minerals by 61.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 900 shares during the period. MAS Advisors LLC boosted its position in shares of Black Stone Minerals by 3.5% in the 3rd quarter. MAS Advisors LLC now owns 27,089 shares of the oil and gas producer's stock worth $356,000 after buying an additional 913 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of Black Stone Minerals by 8.8% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 11,416 shares of the oil and gas producer's stock worth $150,000 after buying an additional 927 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its position in shares of Black Stone Minerals by 3.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 30,000 shares of the oil and gas producer's stock worth $394,000 after buying an additional 1,000 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSM has been the topic of several recent research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Zacks Research lowered shares of Black Stone Minerals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Finally, Piper Sandler boosted their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Black Stone Minerals has an average rating of "Hold" and a consensus price target of $14.00.

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $13.67 on Friday. Black Stone Minerals, L.P. has a 52 week low of $11.78 and a 52 week high of $15.49. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.19. The firm's 50-day simple moving average is $14.91 and its 200 day simple moving average is $14.15. The firm has a market capitalization of $2.90 billion, a PE ratio of 10.68 and a beta of 0.19.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The business had revenue of $118.70 million for the quarter, compared to analyst estimates of $98.08 million. Black Stone Minerals had a net margin of 62.26% and a return on equity of 43.31%. On average, equities research analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 18th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date was Wednesday, February 18th. Black Stone Minerals's dividend payout ratio is 93.75%.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, SVP Luke Stevens Putman sold 30,276 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $15.25, for a total value of $461,709.00. Following the transaction, the senior vice president directly owned 761,417 shares in the company, valued at approximately $11,611,609.25. This represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.80% of the company's stock.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. NYSE: BSM is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company's business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.