Penn Davis Mcfarland Inc. Buys 245,009 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Penn Davis Mcfarland Inc. raised its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 18.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,601,182 shares of the oil and gas producer’s stock after acquiring an additional 245,009 shares during the quarter. Black Stone Minerals accounts for 2.5% of Penn Davis Mcfarland Inc.’s holdings, making the stock its 14th largest position. Penn Davis Mcfarland Inc.’s holdings in Black Stone Minerals were worth $23,377,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC raised its position in Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock worth $4,162,000 after purchasing an additional 109,500 shares in the last quarter. Magnolia Capital Advisors LLC bought a new stake in shares of Black Stone Minerals in the 2nd quarter valued at approximately $2,480,000. International Assets Investment Management LLC acquired a new position in shares of Black Stone Minerals in the 3rd quarter worth approximately $8,240,000. ING Groep NV lifted its position in shares of Black Stone Minerals by 5.9% during the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $9,859,000 after buying an additional 36,300 shares during the period. Finally, Fiducient Advisors LLC acquired a new stake in Black Stone Minerals in the 3rd quarter valued at $12,253,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler cut their price objective on 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 Price Performance

BSM stock opened at $15.60 on Monday. The business has a fifty 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 stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 9.63 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM) last announced its earnings results 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. The company had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. During the same period last year, the company posted $0.27 earnings per share. On average, equities analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

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.