Bristlecone Advisors LLC Increases Position in Black Stone Minerals, L.P. (NYSE:BSM)

Bristlecone Advisors LLC lifted its position in Black Stone Minerals, L.P. (NYSE:BSM) by 40.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 45,551 shares of the oil and gas producer’s stock after purchasing an additional 13,141 shares during the quarter. Bristlecone Advisors LLC’s holdings in Black Stone Minerals were worth $665,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC grew its stake in Black Stone Minerals by 7.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 24,378 shares of the oil and gas producer’s stock valued at $356,000 after acquiring an additional 1,774 shares in the last quarter. Penn Davis Mcfarland Inc. grew its stake in Black Stone Minerals by 18.1% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer’s stock valued at $23,377,000 after acquiring an additional 245,009 shares in the last quarter. Moody National Bank Trust Division grew its stake in Black Stone Minerals by 35.2% during the fourth quarter. Moody National Bank Trust Division now owns 18,913 shares of the oil and gas producer’s stock valued at $276,000 after acquiring an additional 4,924 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Black Stone Minerals by 64.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,738 shares of the oil and gas producer’s stock valued at $509,000 after acquiring an additional 13,204 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Black Stone Minerals during the third quarter valued at $76,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Stock Up 2.5 %

BSM stock opened at $15.14 on Tuesday. Black Stone Minerals, L.P. has a 52 week low of $13.78 and a 52 week high of $16.92. The company has a fifty day simple moving average of $14.74 and a two-hundred day simple moving average of $14.86. The firm has a market capitalization of $3.19 billion, a P/E ratio of 9.35 and a beta of 0.94.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.375 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.50 annualized dividend and a yield of 9.91%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 92.59%.

Wall Street Analysts Forecast Growth

BSM has been the subject of several research analyst reports. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Piper Sandler cut their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

Black Stone Minerals 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.