Black Stone Minerals (NYSE:BSM) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Black Stone Minerals (NYSE:BSM) posted its earnings results on Monday. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06, Zacks reports. The company had revenue of $134.86 million during the quarter, compared to analysts’ expectations of $117.68 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter last year, the firm earned $0.27 earnings per share.

Black Stone Minerals Trading Up 1.5 %

BSM stock traded up $0.23 during trading hours on Thursday, hitting $15.35. 235,010 shares of the stock traded hands, compared to its average volume of 441,431. Black Stone Minerals has a one year low of $13.94 and a one year high of $17.80. The company has a market cap of $3.46 billion, a P/E ratio of 10.22 and a beta of 0.94. The stock has a 50-day simple moving average of $14.90 and a 200 day simple moving average of $15.33.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 9.77%. The ex-dividend date of this dividend is Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is 101.35%.

Insider Transactions at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the purchase, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director D Mark Dewalch bought 34,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the director now directly owns 357,005 shares in the company, valued at $5,219,413.10. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BSM. StockNews.com cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler reduced their price target on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th.

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.