Penn Davis Mcfarland Inc. Purchases 66,898 Shares of Black Stone Minerals, L.P. $BSM

Penn Davis Mcfarland Inc. grew its position in Black Stone Minerals, L.P. (NYSE:BSM) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,918,790 shares of the oil and gas producer’s stock after purchasing an additional 66,898 shares during the period. Black Stone Minerals comprises about 2.6% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 16th largest position. Penn Davis Mcfarland Inc.’s holdings in Black Stone Minerals were worth $25,213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Black Stone Minerals by 3,141.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 913,495 shares of the oil and gas producer’s stock worth $13,949,000 after buying an additional 885,311 shares during the period. Kempner Capital Management Inc. grew its stake in Black Stone Minerals by 52.3% in the second quarter. Kempner Capital Management Inc. now owns 759,343 shares of the oil and gas producer’s stock valued at $9,932,000 after acquiring an additional 260,727 shares during the period. Tweedy Browne Co LLC bought a new stake in shares of Black Stone Minerals in the second quarter worth about $273,000. Grandfield & Dodd LLC acquired a new stake in shares of Black Stone Minerals during the second quarter worth about $397,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Black Stone Minerals during the second quarter worth about $385,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Price Performance

Shares of BSM opened at $13.51 on Friday. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 0.12. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.60. The stock has a market capitalization of $2.86 billion, a P/E ratio of 11.75 and a beta of 0.13. The company has a 50 day moving average of $13.72 and a 200-day moving average of $13.06.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The business had revenue of $132.47 million for the quarter, compared to analyst estimates of $106.20 million. Black Stone Minerals had a net margin of 61.31% and a return on equity of 40.08%. As a group, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date was Thursday, November 6th. Black Stone Minerals’s dividend payout ratio is currently 104.35%.

Analysts Set New Price Targets

Several analysts have commented on BSM shares. Zacks Research upgraded shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Black Stone Minerals in a report on Monday, December 29th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Black Stone Minerals in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.