Black Stone Minerals (NYSE:BSM) Releases Quarterly Earnings Results, Beats Expectations 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 for the quarter, beating the consensus estimate of $0.35 by $0.06, Zacks reports. The firm had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter in the previous year, the business earned $0.27 EPS.

Black Stone Minerals Price Performance

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

Black Stone Minerals Announces Dividend

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

Analyst Ratings Changes

BSM has been the subject of a number of recent analyst reports. Piper Sandler cut their price objective 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 upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th.

Insiders Place Their Bets

In other Black Stone Minerals news, Director D Mark Dewalch acquired 34,200 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $14.62 per share, with a total value of $500,004.00. Following the purchase, the director now owns 357,005 shares in the company, valued at approximately $5,219,413.10. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals 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 transaction, the senior vice president now owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director D Mark Dewalch purchased 34,200 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $14.62 per share, for a total transaction of $500,004.00. Following the transaction, the director now owns 357,005 shares in the company, valued at approximately $5,219,413.10. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 18.60% of the stock is currently owned by corporate insiders.

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.