Spirit of America Management Corp NY Sells 62,000 Shares of Black Stone Minerals, L.P. $BSM

Spirit of America Management Corp NY trimmed its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 43.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,999 shares of the oil and gas producer’s stock after selling 62,000 shares during the period. Spirit of America Management Corp NY’s holdings in Black Stone Minerals were worth $1,064,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in Black Stone Minerals during the first quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Black Stone Minerals by 71.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 1,245 shares in the last quarter. Motco bought a new position in shares of Black Stone Minerals during the 2nd quarter valued at $46,000. Tower Research Capital LLC TRC raised its position in Black Stone Minerals by 7,822.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock worth $95,000 after purchasing an additional 7,197 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new stake in Black Stone Minerals in the second quarter worth $132,000. Institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Price Performance

BSM opened at $13.56 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.37 and a current ratio of 4.37. The stock has a market capitalization of $2.87 billion, a PE ratio of 11.79 and a beta of 0.11. The stock’s 50 day moving average price is $13.65 and its 200-day moving average price is $13.07. Black Stone Minerals, L.P. has a 52-week low of $11.78 and a 52-week high of $15.60.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The business had revenue of $132.47 million for the quarter, compared to analysts’ expectations of $106.20 million. Black Stone Minerals had a net margin of 61.31% and a return on equity of 40.08%. On average, equities research analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, November 6th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 6th. This represents a $1.20 annualized dividend and a dividend yield of 8.8%. Black Stone Minerals’s payout ratio is currently 104.35%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Black Stone Minerals in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday. Finally, Zacks Research upgraded Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Black Stone Minerals has a consensus rating of “Hold” and a consensus price target of $13.00.

Black Stone Minerals Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.