Spirit of America Management Corp NY Sells 73,000 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Spirit of America Management Corp NY trimmed its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 23.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 244,999 shares of the oil and gas producer’s stock after selling 73,000 shares during the period. Spirit of America Management Corp NY’s holdings in Black Stone Minerals were worth $3,577,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in Black Stone Minerals during the 3rd quarter valued at about $54,000. JPMorgan Chase & Co. bought a new position in Black Stone Minerals during the 3rd quarter valued at about $76,000. BCS Wealth Management grew its holdings in Black Stone Minerals by 15.1% during the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after purchasing an additional 1,852 shares during the last quarter. Indie Asset Partners LLC bought a new position in Black Stone Minerals during the 3rd quarter valued at about $234,000. Finally, Redhawk Wealth Advisors Inc. boosted its position in Black Stone Minerals by 10.1% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock valued at $242,000 after buying an additional 1,465 shares during the period. 14.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BSM has been the subject of several research reports. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Piper Sandler lowered their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $14.97 on Wednesday. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 9.24 and a beta of 0.94. Black Stone Minerals, L.P. has a 1 year low of $13.78 and a 1 year high of $16.92. The firm has a 50-day moving average of $14.78 and a two-hundred day moving average of $14.87.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The firm had revenue of $134.86 million during the quarter, compared to analysts’ expectations of $117.68 million. During the same quarter in the prior year, the company earned $0.27 EPS. Research analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

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.