Tower Research Capital LLC TRC bought a new stake in Black Stone Minerals LP (NYSE:BSM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 9,485 shares of the oil and gas producer’s stock, valued at approximately $170,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alliancebernstein L.P. raised its position in Black Stone Minerals by 5.9% in the second quarter. Alliancebernstein L.P. now owns 18,468 shares of the oil and gas producer’s stock valued at $291,000 after purchasing an additional 1,034 shares during the period. Sterling Capital Management LLC raised its position in Black Stone Minerals by 13.7% in the third quarter. Sterling Capital Management LLC now owns 34,794 shares of the oil and gas producer’s stock valued at $603,000 after purchasing an additional 4,191 shares during the period. Bank of Montreal Can raised its position in Black Stone Minerals by 6.3% in the fourth quarter. Bank of Montreal Can now owns 90,527 shares of the oil and gas producer’s stock valued at $1,624,000 after purchasing an additional 5,327 shares during the period. Acadian Asset Management LLC purchased a new stake in Black Stone Minerals in the fourth quarter valued at approximately $221,000. Finally, Wells Fargo & Company MN raised its position in Black Stone Minerals by 432.5% in the fourth quarter. Wells Fargo & Company MN now owns 27,704 shares of the oil and gas producer’s stock valued at $497,000 after purchasing an additional 22,501 shares during the period. 22.76% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on BSM shares. Zacks Investment Research raised Black Stone Minerals from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Barclays set a $18.00 price objective on Black Stone Minerals and gave the stock a “buy” rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus started coverage on Black Stone Minerals in a research report on Wednesday, January 17th. They set a “hold” rating and a $19.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.20.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date was Friday, February 16th. Black Stone Minerals’s dividend payout ratio is currently 126.26%.
In related news, CFO Jeffrey P. Wood sold 10,810 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $18.30, for a total value of $197,823.00. Following the transaction, the chief financial officer now owns 53,031 shares of the company’s stock, valued at $970,467.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Luke Stevens Putman sold 23,170 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $18.28, for a total value of $423,547.60. Following the completion of the transaction, the senior vice president now directly owns 257,141 shares in the company, valued at approximately $4,700,537.48. The disclosure for this sale can be found here. 25.00% of the stock is currently owned by corporate insiders.
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About Black Stone Minerals
Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.
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