Spirit of America Management Corp NY Reduces 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 - Free Report) by 10.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,999 shares of the oil and gas producer's stock after selling 26,000 shares during the quarter. Spirit of America Management Corp NY owned about 0.10% of Black Stone Minerals worth $3,344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BSM. Cresset Asset Management LLC lifted its position in Black Stone Minerals by 500.5% during 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 purchasing an additional 497,457 shares during the period. Investment Management Associates Inc. ADV lifted its position in Black Stone Minerals by 30.8% during the fourth quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer's stock valued at $22,545,000 after purchasing an additional 363,962 shares during the period. Aptus Capital Advisors LLC acquired a new position in Black Stone Minerals during the fourth quarter valued at $4,876,000. Northern Trust Corp acquired a new position in Black Stone Minerals during the fourth quarter valued at $4,428,000. Finally, Raymond James Financial Inc. acquired a new position in Black Stone Minerals during the fourth quarter valued at $4,211,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on BSM. Royal Bank Of Canada upgraded shares of Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th. Wall Street Zen downgraded shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Piper Sandler decreased 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 Tuesday, May 13th.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock traded down $0.25 during trading hours on Monday, reaching $12.96. The stock had a trading volume of 614,773 shares, compared to its average volume of 435,187. The stock's 50 day moving average is $13.85 and its 200 day moving average is $14.45. The firm has a market capitalization of $2.74 billion, a PE ratio of 14.09 and a beta of 0.31. Black Stone Minerals, L.P. has a twelve month low of $12.80 and a twelve month high of $16.03. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.08.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 11.57%. Black Stone Minerals's dividend payout ratio (DPR) is currently 163.04%.

Insiders Place Their Bets

In other news, SVP Carrie Pearson Clark sold 36,900 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were 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 owns 165,857 shares of the company's stock, valued at $2,249,020.92. The trade was a 18.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas L. Carter, Jr. bought 14,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were bought at an average cost of $13.52 per share, with a total value of $196,040.00. Following the purchase, the chief executive officer now directly owns 3,349,621 shares of the company's stock, valued at approximately $45,286,875.92. This represents a 0.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 17.80% of the company's stock.

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.