Newbridge Financial Services Group Inc. Buys 2,236 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Newbridge Financial Services Group Inc. boosted its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 279.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,036 shares of the oil and gas producer’s stock after purchasing an additional 2,236 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Black Stone Minerals were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. HBC Financial Services PLLC acquired a new stake in Black Stone Minerals in the fourth quarter worth about $31,000. Clear Street Markets LLC acquired a new stake in Black Stone Minerals in the third quarter worth about $40,000. Arlington Trust Co LLC acquired a new stake in Black Stone Minerals in the fourth quarter worth about $100,000. Global Retirement Partners LLC acquired a new stake in Black Stone Minerals in the fourth quarter worth about $135,000. Finally, BCS Wealth Management lifted its holdings in shares of Black Stone Minerals by 7.3% during the fourth quarter. BCS Wealth Management now owns 11,643 shares of the oil and gas producer’s stock worth $186,000 after purchasing an additional 792 shares during the period. Institutional investors own 14.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their target price on Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th.

Black Stone Minerals Stock Up 0.4 %

Black Stone Minerals stock opened at $15.67 on Wednesday. Black Stone Minerals, L.P. has a 52 week low of $14.88 and a 52 week high of $18.55. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 10.17 and a beta of 0.90. The stock has a 50-day moving average price of $15.97 and a 200 day moving average price of $15.98.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, May 6th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). Black Stone Minerals had a net margin of 66.29% and a return on equity of 38.71%. The company had revenue of $105.49 million during the quarter, compared to analyst estimates of $119.50 million. Research analysts anticipate that Black Stone Minerals, L.P. will post 1.47 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 10th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 9.58%. The ex-dividend date was Thursday, May 9th. Black Stone Minerals’s payout ratio is presently 97.40%.

Black Stone Minerals Company 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.