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

Spirit of America Management Corp NY trimmed its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 23.0% during the 4th quarter, according to its most recent disclosure 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 quarter. Spirit of America Management Corp NY owned about 0.12% of Black Stone Minerals worth $3,577,000 at the end of the most recent reporting period.

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

Black Stone Minerals Stock Performance

Shares of BSM traded down $0.03 during trading hours on Friday, hitting $14.73. The stock had a trading volume of 252,088 shares, compared to its average volume of 367,813. The firm has a 50-day moving average price of $14.74 and a 200 day moving average price of $14.87. Black Stone Minerals, L.P. has a fifty-two week low of $13.78 and a fifty-two week high of $16.92. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 9.09 and a beta of 0.94.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.50 annualized dividend and a dividend yield of 10.18%. Black Stone Minerals's dividend payout ratio is presently 92.59%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler dropped their target price on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, November 18th. StockNews.com upgraded shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a research note on Monday, December 16th.

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.