Chase Investment Counsel Corp Acquires 40,663 Shares of Black Stone Minerals, L.P. $BSM

Chase Investment Counsel Corp raised its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 116.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,577 shares of the oil and gas producer’s stock after purchasing an additional 40,663 shares during the quarter. Chase Investment Counsel Corp’s holdings in Black Stone Minerals were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BSM. Newbridge Financial Services Group Inc. raised its position in shares of Black Stone Minerals by 71.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 1,245 shares during the period. Motco acquired a new position in Black Stone Minerals in the 2nd quarter valued at about $46,000. Tower Research Capital LLC TRC raised its holdings in Black Stone Minerals by 7,822.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock valued at $95,000 after acquiring an additional 7,197 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in Black Stone Minerals during the second quarter worth approximately $132,000. Finally, Astoria Portfolio Advisors LLC. bought a new stake in shares of Black Stone Minerals during the third quarter worth approximately $135,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Trading Down 1.4%

BSM opened at $14.87 on Tuesday. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.52. The company has a 50-day simple moving average of $14.28 and a 200 day simple moving average of $13.51. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 12.93 and a beta of 0.18.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Black Stone Minerals had a net margin of 61.31% and a return on equity of 40.08%. The firm had revenue of $118.70 million for the quarter, compared to analyst estimates of $98.08 million. Analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.1%. The ex-dividend date is Wednesday, February 18th. Black Stone Minerals’s payout ratio is currently 104.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. KeyCorp reiterated a “sector weight” rating on shares of Black Stone Minerals in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, Black Stone Minerals presently has a consensus rating of “Hold” and an average target price of $13.00.

About Black Stone Minerals

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.