Spirit of America Management Corp NY Decreases Stock Position in Black Stone Minerals, L.P. (NYSE:BSM)

Spirit of America Management Corp NY reduced its position in Black Stone Minerals, L.P. (NYSE:BSM) by 16.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 317,999 shares of the oil and gas producer’s stock after selling 62,500 shares during the quarter. Black Stone Minerals makes up about 1.0% of Spirit of America Management Corp NY’s holdings, making the stock its 26th largest position. Spirit of America Management Corp NY owned about 0.15% of Black Stone Minerals worth $4,802,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Cadence Bank increased its position in Black Stone Minerals by 3.1% in the first quarter. Cadence Bank now owns 26,350 shares of the oil and gas producer’s stock worth $421,000 after buying an additional 784 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its position in Black Stone Minerals by 10.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock worth $242,000 after buying an additional 1,465 shares during the last quarter. MAS Advisors LLC grew its position in shares of Black Stone Minerals by 5.4% in the second quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock valued at $457,000 after purchasing an additional 1,506 shares in the last quarter. BCS Wealth Management grew its position in shares of Black Stone Minerals by 15.1% in the third 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 in the last quarter. Finally, Doliver Advisors LP grew its position in shares of Black Stone Minerals by 14.2% in the third quarter. Doliver Advisors LP now owns 30,943 shares of the oil and gas producer’s stock valued at $467,000 after purchasing an additional 3,856 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the acquisition, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now owns 116,923 shares of the company’s stock, valued at $1,735,137.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.60% of the company’s stock.

Black Stone Minerals Stock Up 0.9 %

Shares of NYSE BSM opened at $15.12 on Friday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 9.82 and a beta of 0.93. The stock’s 50-day simple moving average is $14.89 and its two-hundred day simple moving average is $15.41. Black Stone Minerals, L.P. has a twelve month low of $13.94 and a twelve month high of $18.55.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The business had revenue of $109.62 million during the quarter, compared to the consensus estimate of $124.24 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, research analysts anticipate that Black Stone Minerals, L.P. will post 1.31 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 9.92%. Black Stone Minerals’s dividend payout ratio is currently 97.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, KeyCorp assumed coverage on Black Stone Minerals in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company.

About Black Stone Minerals

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.