Penn Davis Mcfarland Inc. Raises Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Penn Davis Mcfarland Inc. increased its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 18.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,601,182 shares of the oil and gas producer’s stock after purchasing an additional 245,009 shares during the quarter. Black Stone Minerals accounts for about 2.5% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 14th largest holding. Penn Davis Mcfarland Inc. owned approximately 0.76% of Black Stone Minerals worth $23,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Larson Financial Group LLC purchased a new position in shares of Black Stone Minerals in the 3rd quarter valued at $54,000. JPMorgan Chase & Co. purchased a new position in Black Stone Minerals in the third quarter valued at about $76,000. BCS Wealth Management lifted its stake 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 worth $213,000 after purchasing an additional 1,852 shares in the last quarter. Indie Asset Partners LLC purchased a new stake in shares of Black Stone Minerals in the third quarter worth about $234,000. Finally, Redhawk Wealth Advisors Inc. grew its stake in shares of Black Stone Minerals by 10.1% in 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 buying an additional 1,465 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BSM has been the subject of several analyst reports. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Piper Sandler dropped their price target 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 Monday, November 18th.

Black Stone Minerals Stock Up 0.5 %

Shares of Black Stone Minerals stock opened at $15.60 on Monday. The business has a 50-day moving average price of $14.83 and a 200 day moving average price of $14.93. Black Stone Minerals, L.P. has a fifty-two week low of $13.78 and a fifty-two week high of $16.92. The firm has a market cap of $3.29 billion, a P/E ratio of 9.63 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

About Black Stone Minerals

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.