Black Stone Minerals (NYSE:BSM) Announces Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Black Stone Minerals (NYSE:BSMGet Free Report) released its quarterly earnings data on Monday. The oil and gas producer reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24, Zacks reports. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. The firm had revenue of $148.97 million for the quarter, compared to analyst estimates of $108.28 million.

Black Stone Minerals Price Performance

NYSE BSM opened at $14.89 on Tuesday. The firm’s 50-day simple moving average is $14.05 and its two-hundred day simple moving average is $14.40. The company has a market cap of $3.16 billion, a PE ratio of 11.72 and a beta of 0.04. Black Stone Minerals has a 52 week low of $11.78 and a 52 week high of $15.49. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, August 6th will be issued a $0.32 dividend. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.28 annualized dividend and a yield of 8.6%. Black Stone Minerals’s payout ratio is 100.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BSM shares. Royal Bank Of Canada assumed coverage on Black Stone Minerals in a research report on Friday, May 29th. They set a “sector perform” rating and a $16.00 price target for the company. Zacks Research upgraded Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research note on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research report on Tuesday, July 21st. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

Get Our Latest Stock Report on BSM

Insider Transactions at Black Stone Minerals

In related news, Director D Mark Dewalch purchased 37,650 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average price of $13.21 per share, for a total transaction of $497,356.50. Following the completion of the transaction, the director directly owned 431,495 shares of the company’s stock, valued at $5,700,048.95. This represents a 9.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ashley J. Longmaid sold 11,128 shares of Black Stone Minerals stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total value of $149,671.60. Following the sale, the director owned 137,335 shares in the company, valued at $1,847,155.75. This represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 179,254 shares of company stock worth $2,407,265. 17.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Black Stone Minerals

Several institutional investors have recently bought and sold shares of the company. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $43,000. Kestra Advisory Services LLC purchased a new position in Black Stone Minerals in the 4th quarter worth approximately $86,000. Tower Research Capital LLC TRC raised its holdings 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 acquiring an additional 7,197 shares during the last quarter. Lido Advisors LLC bought a new position in Black Stone Minerals in the 4th quarter valued at approximately $134,000. Finally, EP Wealth Advisors LLC bought a new position in Black Stone Minerals in the 4th quarter valued at approximately $160,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Company Profile

(Get Free Report)

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.

See Also

Earnings History for Black Stone Minerals (NYSE:BSM)

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