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

Black Stone Minerals (NYSE:BSM) announced 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 during the quarter, compared to the consensus estimate of $117.68 million. During the same quarter last year, the firm posted $0.27 EPS.

Black Stone Minerals Trading Up 0.1 %

Shares of Black Stone Minerals stock traded up $0.01 during trading hours on Tuesday, reaching $14.95. 315,367 shares of the company’s stock were exchanged, compared to its average volume of 438,967. Black Stone Minerals has a 52-week low of $13.94 and a 52-week high of $18.55. The company has a fifty day moving average of $14.89 and a 200-day moving average of $15.34. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 10.13 and a beta of 0.94.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 10.03%. The ex-dividend date is Friday, November 8th. Black Stone Minerals’s payout ratio is 101.35%.

Wall Street Analyst Weigh In

BSM has been the subject of a number of research reports. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Piper Sandler lowered their target price on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Insiders Place Their Bets

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

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.