Wealth Enhancement Advisory Services LLC Acquires 3,460 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,994 shares of the oil and gas producer’s stock after purchasing an additional 3,460 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Black Stone Minerals were worth $350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in Black Stone Minerals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 1,000 shares during the period. State of Wyoming bought a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $107,000. Virtus ETF Advisers LLC raised its stake in shares of Black Stone Minerals by 14.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer’s stock valued at $173,000 after acquiring an additional 1,463 shares during the last quarter. Jump Financial LLC bought a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $185,000. Finally, Annandale Capital LLC raised its stake in shares of Black Stone Minerals by 5.5% in the fourth quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer’s stock valued at $210,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 14.49% of the company’s stock.

Wall Street Analysts Forecast Growth

BSM has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Royal Bank of Canada upgraded shares of Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th. Finally, 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 Tuesday, May 13th.

Black Stone Minerals Stock Up 0.2%

Shares of NYSE BSM opened at $13.95 on Friday. The company’s fifty day moving average is $13.89 and its 200-day moving average is $14.54. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 8.61 and a beta of 0.31. Black Stone Minerals, L.P. has a twelve month low of $12.80 and a twelve month high of $16.03.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a dividend of $0.375 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.50 annualized dividend and a yield of 10.75%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 163.04%.

Insiders Place Their Bets

In other news, CEO Thomas L. Carter, Jr. acquired 14,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of $13.52 per share, with a total value of $196,040.00. Following the completion of the purchase, the chief executive officer now directly owns 3,349,621 shares of the company’s stock, valued at $45,286,875.92. The trade was a 0.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Carrie Pearson Clark sold 36,900 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $13.56, for a total transaction of $500,364.00. Following the completion of the sale, the senior vice president now owns 165,857 shares in the company, valued at $2,249,020.92. This represents a 18.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.80% of the company’s stock.

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.