Spirit of America Management Corp NY Sells 62,500 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Spirit of America Management Corp NY lowered its position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 16.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 317,999 shares of the oil and gas producer's stock after selling 62,500 shares during the quarter. Black Stone Minerals accounts for about 1.0% of Spirit of America Management Corp NY's investment portfolio, making the stock its 26th biggest holding. 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 institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in Black Stone Minerals in the second quarter valued at approximately $74,000. SG Americas Securities LLC bought a new position in Black Stone Minerals in the first quarter valued at approximately $102,000. Financial Advocates Investment Management bought a new position in Black Stone Minerals in the second quarter valued at approximately $159,000. Hilltop National Bank bought a new position in Black Stone Minerals in the first quarter valued at approximately $177,000. Finally, Choreo LLC bought a new stake in shares of Black Stone Minerals in the second quarter worth $205,000. Institutional investors and hedge funds own 14.49% of the company's stock.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 18,532 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the transaction, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % 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 hyperlink. In related news, SVP Carrie Pearson Clark sold 18,532 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the transaction, the senior vice president now directly owns 116,923 shares in the company, valued at approximately $1,735,137.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director D Mark Dewalch purchased 34,200 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the director now directly owns 357,005 shares of the company's stock, valued at $5,219,413.10. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 19.60% of the company's stock.

Black Stone Minerals Stock Performance

BSM traded down $0.20 during trading on Friday, reaching $14.91. 332,154 shares of the stock were exchanged, compared to its average volume of 442,877. The stock has a market cap of $3.14 billion, a P/E ratio of 9.68 and a beta of 0.93. Black Stone Minerals, L.P. has a twelve month low of $13.94 and a twelve month high of $18.55. The stock's 50 day moving average price is $14.89 and its two-hundred day moving average price is $15.40.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued 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). Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. The firm had revenue of $109.62 million for the quarter, compared to analyst estimates of $124.24 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Equities research analysts predict that Black Stone Minerals, L.P. will post 1.31 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 10.06%. Black Stone Minerals's dividend payout ratio is currently 97.40%.

Analyst Ratings Changes

A number of analysts have recently commented on BSM shares. Piper Sandler cut their price objective on shares of Black Stone Minerals from $17.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. StockNews.com raised shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a research report on Tuesday, August 6th. Finally, KeyCorp started coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They issued a "sector weight" rating on the 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.