Black Stone Minerals (NYSE:BSM) Issues 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 (EPS) 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 the consensus estimate 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 period in the prior year, the firm earned $0.27 EPS.

Black Stone Minerals Stock Performance

Black Stone Minerals stock opened at $14.91 on Wednesday. The company has a market cap of $3.36 billion, a P/E ratio of 10.07 and a beta of 0.94. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $18.55. The firm’s 50-day moving average is $14.89 and its 200-day moving average is $15.33.

Black Stone Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 10.06%. The ex-dividend date is Friday, November 8th. Black Stone Minerals’s dividend payout ratio is currently 101.35%.

Insider Buying and Selling at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the acquisition, the chief executive officer now owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 owns 116,923 shares in the company, 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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BSM. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Piper Sandler decreased their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

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.