Black Stone Minerals, L.P. (NYSE:BSM) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY lessened its stake in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 10.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,999 shares of the oil and gas producer's stock after selling 26,000 shares during the period. Spirit of America Management Corp NY owned 0.10% of Black Stone Minerals worth $3,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Northern Trust Corp acquired a new position in Black Stone Minerals in the fourth quarter valued at $4,428,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Black Stone Minerals in the fourth quarter valued at $411,000. Alpha Wealth Funds LLC acquired a new position in Black Stone Minerals in the fourth quarter valued at $359,000. Raymond James Financial Inc. acquired a new position in Black Stone Minerals in the fourth quarter valued at $4,211,000. Finally, Cresset Asset Management LLC boosted its stake in Black Stone Minerals by 500.5% in the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer's stock valued at $8,714,000 after acquiring an additional 497,457 shares in the last quarter. Institutional investors and hedge funds own 14.49% of the company's stock.

Black Stone Minerals Stock Down 1.4%

BSM stock opened at $13.19 on Friday. The company's 50 day simple moving average is $13.88 and its 200-day simple moving average is $14.49. The firm has a market capitalization of $2.78 billion, a PE ratio of 14.33 and a beta of 0.31. Black Stone Minerals, L.P. has a 12 month low of $12.80 and a 12 month high of $16.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.35 and a quick ratio of 1.35.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 11.38%. Black Stone Minerals's dividend payout ratio is presently 163.04%.

Insider Buying and Selling at Black Stone Minerals

In other news, SVP Carrie Pearson Clark sold 36,900 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $13.56, for a total transaction of $500,364.00. Following the completion of the sale, the senior vice president now directly owns 165,857 shares in the company, valued at $2,249,020.92. This represents a 18.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas L. Carter, Jr. acquired 14,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average price of $13.52 per share, with a total value of $196,040.00. Following the completion of the acquisition, the chief executive officer now owns 3,349,621 shares in the company, valued at approximately $45,286,875.92. The trade was a 0.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. 17.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Royal Bank Of Canada raised shares of Black Stone Minerals to a "hold" rating in a report on Friday, March 14th. Finally, Piper Sandler dropped their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th.

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.

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