Black Stone Minerals (NYSE:BSM) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Black Stone Minerals (NYSE:BSM) announced its earnings results on Monday. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08), Yahoo Finance reports. The business had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $124.24 million. Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. During the same quarter last year, the business posted $0.35 earnings per share.

Black Stone Minerals Trading Up 0.5 %

Shares of NYSE:BSM traded up $0.07 during midday trading on Wednesday, hitting $14.69. The stock had a trading volume of 133,807 shares, compared to its average volume of 465,794. The company has a market capitalization of $3.09 billion, a PE ratio of 9.49 and a beta of 0.93. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $18.55. The stock has a 50 day moving average price of $15.63 and a two-hundred day moving average price of $15.80.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.50 dividend on an annualized basis and a yield of 10.21%. Black Stone Minerals’s payout ratio is currently 97.40%.

Analysts Set New Price Targets

Several research analysts have issued reports on BSM shares. KeyCorp initiated coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

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.