13,900 Shares in Black Stone Minerals, L.P. (NYSE:BSM) Acquired by ORG Partners LLC

ORG Partners LLC bought a new position in Black Stone Minerals, L.P. (NYSE:BSM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 13,900 shares of the oil and gas producer’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bogart Wealth LLC purchased a new stake in shares of Black Stone Minerals in the 1st quarter valued at approximately $26,000. HBC Financial Services PLLC bought a new stake in Black Stone Minerals in the 4th quarter valued at $31,000. Newbridge Financial Services Group Inc. boosted its holdings in Black Stone Minerals by 279.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 2,236 shares during the period. Arlington Trust Co LLC bought a new stake in Black Stone Minerals in the 4th quarter valued at $100,000. Finally, Global Retirement Partners LLC bought a new stake in Black Stone Minerals in the 4th quarter valued at $135,000. 14.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, KeyCorp started coverage on shares of Black Stone Minerals in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Black Stone Minerals presently has an average rating of “Hold” and a consensus target price of $19.33.

Black Stone Minerals Stock Performance

Shares of NYSE:BSM traded up $0.01 during midday trading on Friday, reaching $15.61. 214,517 shares of the company’s stock were exchanged, compared to its average volume of 468,488. The company’s 50 day simple moving average is $15.90 and its two-hundred day simple moving average is $15.91. The firm has a market capitalization of $3.28 billion, a PE ratio of 10.14 and a beta of 0.93. Black Stone Minerals, L.P. has a 12 month low of $14.88 and a 12 month high of $18.55.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The business had revenue of $105.49 million for the quarter, compared to the consensus estimate of $119.50 million. Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. On average, research analysts anticipate that Black Stone Minerals, L.P. will post 1.37 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.61%. The ex-dividend date of this dividend was Thursday, May 9th. Black Stone Minerals’s payout ratio is 97.40%.

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.