Wealthedge Investment Advisors LLC Invests $505,000 in Black Stone Minerals, L.P. (NYSE:BSM)

Wealthedge Investment Advisors LLC bought a new stake in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 34,586 shares of the oil and gas producer's stock, valued at approximately $505,000.

A number of other hedge funds also recently added to or reduced their stakes in BSM. Alpha Wealth Funds LLC acquired a new position in Black Stone Minerals during the fourth quarter worth about $359,000. Vident Advisory LLC lifted its holdings in Black Stone Minerals by 2.7% in the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock worth $463,000 after purchasing an additional 846 shares during the last quarter. State of Wyoming acquired a new position in shares of Black Stone Minerals during the fourth quarter worth approximately $107,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $411,000. Finally, Eagle Global Advisors LLC grew its position in Black Stone Minerals by 61.9% in the fourth quarter. Eagle Global Advisors LLC now owns 149,940 shares of the oil and gas producer's stock valued at $2,189,000 after acquiring an additional 57,318 shares during the period. 14.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSM has been the subject of a number of recent research reports. Wall Street Zen downgraded Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Royal Bank of Canada upgraded Black Stone Minerals to a "hold" rating in a report on Friday, March 14th. Finally, Piper Sandler reduced their target price on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th.

Insider Activity at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. acquired 14,500 shares of Black Stone Minerals stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average price of $13.52 per share, for a total transaction of $196,040.00. Following the completion of the transaction, the chief executive officer now owns 3,349,621 shares in the company, valued at $45,286,875.92. The trade was a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carrie Pearson Clark sold 36,900 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $2,249,020.92. This represents a 18.20% decrease in their position. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by corporate insiders.

Black Stone Minerals Stock Performance

NYSE:BSM traded down $0.17 during trading on Friday, reaching $13.37. The company's stock had a trading volume of 290,635 shares, compared to its average volume of 433,152. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 8.25 and a beta of 0.34. Black Stone Minerals, L.P. has a 12 month low of $12.80 and a 12 month high of $16.30. The firm has a 50 day moving average of $14.15 and a 200-day moving average of $14.65.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.21). The business had revenue of $83.73 million during the quarter, compared to analysts' expectations of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. Equities research analysts forecast that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 11.22%. Black Stone Minerals's dividend payout ratio is currently 163.04%.

About Black Stone Minerals

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.