Forum Financial Management LP Buys Shares of 300,000 Black Stone Minerals, L.P. $BSM

Forum Financial Management LP bought a new stake in Black Stone Minerals, L.P. (NYSE:BSM) during the fourth quarter, HoldingsChannel.com reports. The fund bought 300,000 shares of the oil and gas producer’s stock, valued at approximately $3,987,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern University purchased a new position in Black Stone Minerals in the 4th quarter valued at about $15,671,000. BCS Wealth Management lifted its holdings in Black Stone Minerals by 104.1% in the 4th quarter. BCS Wealth Management now owns 35,922 shares of the oil and gas producer’s stock valued at $477,000 after purchasing an additional 18,322 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Black Stone Minerals by 61.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 900 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Black Stone Minerals by 65.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock valued at $66,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Penn Davis Mcfarland Inc. lifted its holdings in Black Stone Minerals by 2.5% in the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock valued at $26,148,000 after purchasing an additional 48,677 shares in the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BSM. Zacks Research lowered shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Piper Sandler increased their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Black Stone Minerals in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.00.

Insider Transactions at Black Stone Minerals

In related news, SVP Luke Stevens Putman sold 29,386 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $14.45, for a total transaction of $424,627.70. Following the completion of the sale, the senior vice president owned 732,031 shares of the company’s stock, valued at approximately $10,577,847.95. This represents a 3.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.80% of the company’s stock.

Black Stone Minerals Trading Down 1.7%

Shares of BSM stock opened at $13.67 on Friday. The firm has a market cap of $2.90 billion, a P/E ratio of 10.68 and a beta of 0.19. Black Stone Minerals, L.P. has a 1-year low of $11.78 and a 1-year high of $15.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.88 and a quick ratio of 3.88. The firm’s 50-day simple moving average is $14.91 and its 200-day simple moving average is $14.15.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share 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%. As a group, equities analysts forecast that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 18th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.8%. The ex-dividend date was Wednesday, February 18th. Black Stone Minerals’s dividend payout ratio is presently 93.75%.

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.