Black Stone Minerals, L.P. (NYSE:BSM) Position Raised by Penn Davis Mcfarland Inc.

Penn Davis Mcfarland Inc. boosted its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,861,741 shares of the oil and gas producer's stock after buying an additional 260,559 shares during the quarter. Black Stone Minerals makes up about 3.4% of Penn Davis Mcfarland Inc.'s investment portfolio, making the stock its 12th biggest holding. Penn Davis Mcfarland Inc. owned approximately 0.88% of Black Stone Minerals worth $28,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp bought a new position in Black Stone Minerals in the fourth quarter worth about $4,428,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Black Stone Minerals in the fourth quarter worth about $411,000. Alpha Wealth Funds LLC bought a new position in Black Stone Minerals in the fourth quarter worth about $359,000. Raymond James Financial Inc. bought a new position in Black Stone Minerals in the fourth quarter worth about $4,211,000. Finally, Cresset Asset Management LLC lifted its holdings in Black Stone Minerals by 500.5% in the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer's stock worth $8,714,000 after acquiring an additional 497,457 shares during the last quarter. 14.49% of the stock is owned by institutional investors.

Insider Activity

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 14,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were bought at an average price of $13.52 per share, with a total value of $196,040.00. Following the completion of the acquisition, the chief executive officer now owns 3,349,621 shares in the company, valued at approximately $45,286,875.92. This represents a 0.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carrie Pearson Clark sold 36,900 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the sale, the senior vice president now directly owns 165,857 shares in the company, valued at approximately $2,249,020.92. This trade represents a 18.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BSM shares. Wall Street Zen cut shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Royal Bank Of Canada raised shares of Black Stone Minerals to a "hold" rating in a report on Friday, March 14th. Finally, Piper Sandler cut their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th.

Black Stone Minerals Stock Performance

Shares of BSM traded up $0.15 during mid-day trading on Friday, reaching $13.05. 302,076 shares of the company's stock traded hands, compared to its average volume of 440,536. The business's 50-day moving average price is $13.72 and its 200-day moving average price is $14.39. The stock has a market capitalization of $2.75 billion, a P/E ratio of 14.18 and a beta of 0.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.35 and a current ratio of 1.35. Black Stone Minerals, L.P. has a 12 month low of $12.78 and a 12 month high of $16.03.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.375 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 11.50%. Black Stone Minerals's dividend payout ratio (DPR) is presently 163.04%.

Black Stone Minerals Company 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.