Black Stone Minerals (NYSE:BSM) Posts Earnings Results

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

Black Stone Minerals Price Performance

Shares of NYSE BSM traded up $0.05 during mid-day trading on Tuesday, hitting $14.99. The company had a trading volume of 299,829 shares, compared to its average volume of 438,895. The company has a market capitalization of $3.38 billion, a PE ratio of 10.09 and a beta of 0.94. The business’s 50-day simple moving average is $14.89 and its 200 day simple moving average is $15.34. Black Stone Minerals has a 1-year low of $13.94 and a 1-year high of $18.55.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.01%. The ex-dividend date of this dividend is Friday, November 8th. Black Stone Minerals’s dividend payout ratio is currently 101.35%.

Insider Buying and Selling

In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now owns 116,923 shares in the company, valued at approximately $1,735,137.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler lowered their price target on 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. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th.

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.