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

Black Stone Minerals (NYSE:BSM) issued its quarterly earnings results on Monday. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $0.27 EPS.

Black Stone Minerals Stock Performance

Shares of NYSE BSM opened at $14.91 on Wednesday. The stock has a market capitalization of $3.36 billion, a PE ratio of 10.07 and a beta of 0.94. Black Stone Minerals has a 52 week low of $13.94 and a 52 week high of $18.55. The stock has a 50 day moving average price of $14.89 and a 200 day moving average price of $15.33.

Black Stone Minerals Dividend Announcement

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

Insider Activity

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

Analyst Ratings Changes

A number of brokerages have commented on BSM. Piper Sandler decreased 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 Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th.

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.