Bristlecone Advisors LLC Raises Position in Black Stone Minerals, L.P. (NYSE:BSM)

Bristlecone Advisors LLC grew its position in Black Stone Minerals, L.P. (NYSE:BSM) by 40.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,551 shares of the oil and gas producer’s stock after buying an additional 13,141 shares during the period. Bristlecone Advisors LLC’s holdings in Black Stone Minerals were worth $665,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of Black Stone Minerals during the third quarter valued at approximately $54,000. JPMorgan Chase & Co. purchased a new position in shares of Black Stone Minerals during the third quarter valued at approximately $76,000. BCS Wealth Management raised its holdings in shares of Black Stone Minerals by 15.1% during the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after purchasing an additional 1,852 shares during the last quarter. Indie Asset Partners LLC purchased a new position in shares of Black Stone Minerals during the third quarter valued at approximately $234,000. Finally, Redhawk Wealth Advisors Inc. raised its holdings in shares of Black Stone Minerals by 10.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock valued at $242,000 after purchasing an additional 1,465 shares during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Trading Up 2.5 %

BSM opened at $15.14 on Tuesday. Black Stone Minerals, L.P. has a 1-year low of $13.78 and a 1-year high of $16.92. The company has a market capitalization of $3.19 billion, a PE ratio of 9.35 and a beta of 0.94. The firm’s 50 day simple moving average is $14.74 and its two-hundred day simple moving average is $14.86.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th will be given a $0.375 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.50 annualized dividend and a yield of 9.91%. Black Stone Minerals’s payout ratio is presently 92.59%.

Analysts Set New Price Targets

BSM has been the subject of several research reports. Piper Sandler decreased their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, November 18th. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Monday, December 16th.

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.