Spirit of America Management Corp NY Decreases Position in Black Stone Minerals, L.P. $BSM

Spirit of America Management Corp NY lessened its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 53.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,999 shares of the oil and gas producer’s stock after selling 43,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in Black Stone Minerals were worth $505,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BSM. Newbridge Financial Services Group Inc. grew its holdings in Black Stone Minerals by 71.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 1,245 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Black Stone Minerals by 7,822.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock valued at $95,000 after buying an additional 7,197 shares during the period. Astoria Portfolio Advisors LLC. bought a new stake in shares of Black Stone Minerals in the third quarter valued at $135,000. Redhawk Wealth Advisors Inc. lifted its position in shares of Black Stone Minerals by 8.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 11,416 shares of the oil and gas producer’s stock valued at $150,000 after buying an additional 927 shares during the last quarter. Finally, Ballew Advisors Inc purchased a new position in shares of Black Stone Minerals during the 3rd quarter valued at $166,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a report on Monday, December 29th. Piper Sandler upped their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Finally, Zacks Research lowered shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Black Stone Minerals presently has an average rating of “Hold” and an average target price of $14.00.

Insider Activity at Black Stone Minerals

In other news, SVP Luke Stevens Putman sold 30,276 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $15.25, for a total transaction of $461,709.00. Following the completion of the transaction, the senior vice president directly owned 761,417 shares in the company, valued at $11,611,609.25. The trade was a 3.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.80% of the stock is owned by company insiders.

Black Stone Minerals Trading Up 0.7%

Shares of Black Stone Minerals stock opened at $15.26 on Tuesday. Black Stone Minerals, L.P. has a 12-month low of $11.78 and a 12-month high of $15.49. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 11.92 and a beta of 0.17. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $15.06 and its 200-day moving average price is $14.04.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $98.08 million. Black Stone Minerals had a net margin of 62.26% and a return on equity of 43.31%. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend was Wednesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 93.75%.

Black Stone Minerals Company Profile

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.