Perigon Wealth Management LLC Grows Position in Black Stone Minerals, L.P. (NYSE:BSM)

Perigon Wealth Management LLC lifted its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,207 shares of the oil and gas producer’s stock after buying an additional 2,200 shares during the period. Perigon Wealth Management LLC’s holdings in Black Stone Minerals were worth $610,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Morgan Stanley boosted its position in shares of Black Stone Minerals by 144.9% during the fourth quarter. Morgan Stanley now owns 4,004,701 shares of the oil and gas producer’s stock valued at $67,559,000 after buying an additional 2,369,656 shares during the last quarter. UBS Group AG lifted its holdings in Black Stone Minerals by 12,416.2% in the first quarter. UBS Group AG now owns 1,587,809 shares of the oil and gas producer’s stock valued at $21,372,000 after acquiring an additional 1,575,123 shares during the period. JPMorgan Chase & Co. lifted its holdings in Black Stone Minerals by 239.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,152,661 shares of the oil and gas producer’s stock valued at $19,445,000 after acquiring an additional 812,840 shares during the period. Investment Management Associates Inc. ADV lifted its holdings in Black Stone Minerals by 0.3% in the third quarter. Investment Management Associates Inc. ADV now owns 1,032,414 shares of the oil and gas producer’s stock valued at $17,788,000 after acquiring an additional 3,102 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in Black Stone Minerals by 29.2% in the first quarter. Ancora Advisors LLC now owns 870,043 shares of the oil and gas producer’s stock valued at $7,587,000 after acquiring an additional 196,837 shares during the period. 14.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BSM shares. Stifel Nicolaus lowered their target price on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Piper Sandler increased their target price on Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 7th.

Black Stone Minerals Stock Down 1.1 %

NYSE BSM opened at $16.06 on Monday. The stock’s 50-day moving average price is $15.75 and its 200-day moving average price is $16.53. Black Stone Minerals, L.P. has a 52 week low of $14.80 and a 52 week high of $18.55. The company has a market capitalization of $3.38 billion, a P/E ratio of 8.59 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.65 EPS for the quarter, topping the consensus estimate of $0.50 by $0.15. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. The firm had revenue of $190.84 million for the quarter, compared to the consensus estimate of $142.67 million. During the same quarter last year, the company earned $0.71 earnings per share. Research analysts anticipate that Black Stone Minerals, L.P. will post 1.42 EPS for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 11.83%. The ex-dividend date was Thursday, February 15th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 101.60%.

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch bought 3,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $15.47 per share, with a total value of $50,277.50. Following the purchase, the director now owns 320,436 shares of the company’s stock, valued at $4,957,144.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.60% of the stock is owned by corporate insiders.

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.