Black Stone Minerals (NYSE:BSM) Announces Quarterly Earnings Results

Black Stone Minerals (NYSE:BSM) issued its earnings results on Monday. The oil and gas producer reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05), Zacks reports. The firm had revenue of $99.73 million during the quarter, compared to the consensus estimate of $116.41 million. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%.

Black Stone Minerals Stock Down 1.0%

Black Stone Minerals stock opened at $14.71 on Tuesday. The stock has a market capitalization of $3.13 billion, a PE ratio of 12.15 and a beta of 0.14. Black Stone Minerals has a twelve month low of $12.93 and a twelve month high of $15.49. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $14.77 and a 200-day moving average of $14.50.

Black Stone Minerals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 6th. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 9.5%. Black Stone Minerals’s payout ratio is presently 115.70%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $15.00.

Insider Activity

In related news, Director James Whitehead sold 2,127,105 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total transaction of $28,099,057.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.70% of the stock is owned by corporate insiders.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P. (NYSE: BSM) is a publicly traded master limited partnership that owns mineral and royalty interests in oil and natural gas properties across the United States. The company’s interests entitle it to receive a portion of production or revenue from properties operated and developed by exploration and production companies, generally without bearing the same level of operating costs as working-interest owners.

Black Stone’s portfolio includes mineral, royalty, overriding royalty and working interests in several major U.S.