Black Stone Minerals (NYSE:BSM) Posts Earnings Results, Beats Estimates By $0.24 EPS

Black Stone Minerals (NYSE:BSM) announced its quarterly earnings results on Monday. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24, Zacks reports. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%.

Black Stone Minerals Price Performance

Shares of BSM stock traded down $0.06 during mid-day trading on Monday, reaching $14.89. The stock had a trading volume of 377,594 shares, compared to its average volume of 387,255. Black Stone Minerals has a 12-month low of $11.78 and a 12-month high of $15.49. The company has a market cap of $3.16 billion, a P/E ratio of 11.72 and a beta of 0.04. The business has a 50-day simple moving average of $14.03 and a 200 day simple moving average of $14.39. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 8.6%. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, August 6th. Black Stone Minerals’s dividend payout ratio is currently 94.49%.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch acquired 36,363 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $13.62 per share, for a total transaction of $495,264.06. Following the transaction, the director directly owned 631,248 shares of the company’s stock, valued at approximately $8,597,597.76. This represents a 6.11% 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, Director Ashley J. Longmaid sold 11,128 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total transaction of $149,671.60. Following the completion of the sale, the director directly owned 137,335 shares in the company, valued at approximately $1,847,155.75. The trade was a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have acquired 179,254 shares of company stock valued at $2,407,265 over the last 90 days. 17.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Black Stone Minerals

Several large investors have recently modified their holdings of the business. IHT Wealth Management LLC increased its stake in shares of Black Stone Minerals by 5.1% during the 2nd quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer’s stock worth $296,000 after purchasing an additional 1,104 shares in the last quarter. Aristides Capital LLC lifted its stake in Black Stone Minerals by 3.3% in the 4th quarter. Aristides Capital LLC now owns 35,516 shares of the oil and gas producer’s stock valued at $472,000 after buying an additional 1,120 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Black Stone Minerals during the 4th quarter valued at $43,000. Beacon Pointe Advisors LLC increased its position in Black Stone Minerals by 5.3% during the fourth quarter. Beacon Pointe Advisors LLC now owns 79,792 shares of the oil and gas producer’s stock worth $1,060,000 after buying an additional 4,002 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Black Stone Minerals during the fourth quarter worth $86,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a report on Tuesday, July 21st. Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada assumed coverage on shares of Black Stone Minerals in a report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 target price for the company. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $15.00.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.