150,245 Shares in Black Stone Minerals, L.P. (NYSE:BSM) Purchased by LMG Wealth Partners LLC

LMG Wealth Partners LLC purchased a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,245 shares of the oil and gas producer's stock, valued at approximately $2,194,000. LMG Wealth Partners LLC owned about 0.07% of Black Stone Minerals at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Corps Capital Advisors LLC purchased a new position in Black Stone Minerals during the 4th quarter worth $231,000. Bristlecone Advisors LLC raised its position in Black Stone Minerals by 40.5% in the fourth quarter. Bristlecone Advisors LLC now owns 45,551 shares of the oil and gas producer's stock worth $665,000 after acquiring an additional 13,141 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Black Stone Minerals by 7.8% during the 4th 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 during the period. Penn Davis Mcfarland Inc. raised its holdings 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 worth $23,377,000 after purchasing an additional 245,009 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its position 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 worth $276,000 after purchasing an additional 4,924 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on BSM. Piper Sandler cut their price target on 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. StockNews.com upgraded shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a report on Monday, December 16th.

Black Stone Minerals Stock Performance

BSM stock traded down $0.38 on Friday, reaching $14.83. The company had a trading volume of 302,429 shares, compared to its average volume of 430,151. The company's fifty day moving average is $14.78 and its 200 day moving average is $14.87. The company has a market cap of $3.12 billion, a P/E ratio of 9.16 and a beta of 0.94. Black Stone Minerals, L.P. has a 1 year low of $13.78 and a 1 year high of $16.92.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.12%. The ex-dividend date is Tuesday, February 18th. Black Stone Minerals's payout ratio is currently 92.59%.

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.