Black Stone Minerals (NYSE:BSM) Posts Earnings Results, Beats Estimates By $0.24 EPS

Black Stone Minerals (NYSE:BSM) issued its quarterly earnings results on Monday. The oil and gas producer reported $0.47 earnings per share for the quarter, topping 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%.

Black Stone Minerals Stock Performance

NYSE:BSM traded down $0.06 on Monday, reaching $14.89. 377,665 shares of the company’s stock were exchanged, compared to its average volume of 387,281. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 11.72 and a beta of 0.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a fifty day simple moving average of $14.03 and a 200-day simple moving average of $14.39. Black Stone Minerals has a 52 week low of $11.78 and a 52 week high of $15.49.

Black Stone Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.32 per share. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date is Thursday, August 6th. Black Stone Minerals’s dividend payout ratio (DPR) is 94.49%.

Wall Street Analyst Weigh In

BSM has been the subject of a number of research reports. Zacks Research downgraded shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada assumed coverage on Black Stone Minerals in a research report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 target price for the company. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $15.00.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, Director Ashley J. Longmaid sold 11,128 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $13.45, for a total value of $149,671.60. Following the completion of the transaction, the director owned 137,335 shares in the company, valued at $1,847,155.75. This trade represents a 7.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke Stevens Putman sold 29,386 shares of Black Stone Minerals stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $13.75, for a total value of $404,057.50. Following the transaction, the senior vice president directly owned 702,645 shares of the company’s stock, valued at $9,661,368.75. The trade was a 4.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have purchased 179,254 shares of company stock valued at $2,407,265. 17.70% of the stock is owned by corporate insiders.

Institutional Trading of Black Stone Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of BSM. Garton & Associates Financial Advisors LLC purchased a new stake in Black Stone Minerals in the 4th quarter worth approximately $43,000. Kestra Advisory Services LLC purchased a new position in shares of Black Stone Minerals during the 4th quarter valued at $86,000. Tower Research Capital LLC TRC increased its holdings in shares of Black Stone Minerals by 7,822.8% in the second 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. Lido Advisors LLC bought a new position in shares of Black Stone Minerals in the fourth quarter worth $134,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Black Stone Minerals in the fourth quarter worth $160,000. Institutional investors own 14.49% of the company’s stock.

About Black Stone Minerals

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.