Alps Advisors Inc. Invests $478,000 in Black Stone Minerals, L.P. $BSM

Alps Advisors Inc. purchased a new stake in Black Stone Minerals, L.P. (NYSE:BSM) during the 3rd quarter, Holdings Channel reports. The fund purchased 36,390 shares of the oil and gas producer’s stock, valued at approximately $478,000.

A number of other hedge funds have also modified their holdings of BSM. Lee Financial Co purchased a new stake in Black Stone Minerals in the 3rd quarter valued at approximately $294,000. Truist Financial Corp raised its holdings in shares of Black Stone Minerals by 19.7% in the third quarter. Truist Financial Corp now owns 26,676 shares of the oil and gas producer’s stock worth $351,000 after acquiring an additional 4,388 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of Black Stone Minerals by 14.8% in the third quarter. Belpointe Asset Management LLC now owns 17,190 shares of the oil and gas producer’s stock valued at $226,000 after acquiring an additional 2,215 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Black Stone Minerals by 3.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 30,000 shares of the oil and gas producer’s stock valued at $394,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Arrow Investment Advisors LLC boosted its stake in shares of Black Stone Minerals by 27.8% during the third quarter. Arrow Investment Advisors LLC now owns 13,986 shares of the oil and gas producer’s stock valued at $184,000 after acquiring an additional 3,043 shares during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Price Performance

BSM opened at $15.20 on Friday. The company’s 50 day simple moving average is $14.21 and its 200 day simple moving average is $13.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.37 and a current ratio of 4.37. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.52. The stock has a market capitalization of $3.22 billion, a PE ratio of 13.21 and a beta of 0.18.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 18th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Wednesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is 104.35%.

Analysts Set New Price Targets

Several research analysts recently weighed in on BSM shares. KeyCorp reissued a “sector weight” rating on shares of Black Stone Minerals in a research note on Tuesday, November 4th. Zacks Research cut shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.