Newbridge Financial Services Group Inc. Has $48,000 Stock Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

Newbridge Financial Services Group Inc. lifted its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 279.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,036 shares of the oil and gas producer’s stock after acquiring 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.

A number of other hedge funds have also modified their holdings of the stock. Nomura Holdings Inc. acquired a new position in shares of Black Stone Minerals in the fourth quarter worth $5,635,000. Virtu Financial LLC acquired a new position in shares of Black Stone Minerals in the fourth quarter worth $281,000. Clear Street Markets LLC increased its stake in shares of Black Stone Minerals by 334.8% in the fourth quarter. Clear Street Markets LLC now owns 10,000 shares of the oil and gas producer’s stock worth $160,000 after acquiring an additional 7,700 shares during the last quarter. Avenir Corp acquired a new position in shares of Black Stone Minerals in the fourth quarter worth $1,179,000. Finally, Waterloo Capital L.P. acquired a new position in shares of Black Stone Minerals in the fourth quarter worth $335,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $15.67 on Wednesday. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 10.17 and a beta of 0.90. Black Stone Minerals, L.P. has a one year low of $14.88 and a one year high of $18.55. The company’s fifty day moving average price is $15.97 and its two-hundred day moving average price is $15.98.

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

Black Stone Minerals Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 9.58%. The ex-dividend date of this dividend was Thursday, May 9th. Black Stone Minerals’s dividend payout ratio is currently 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.