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

Black Stone Minerals (NYSE:BSM) issued its quarterly earnings results on Monday. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.27 EPS.

Black Stone Minerals Stock Up 0.9 %

BSM stock traded up $0.14 during mid-day trading on Thursday, reaching $15.26. 125,840 shares of the stock traded hands, compared to its average volume of 440,925. Black Stone Minerals has a 52 week low of $13.94 and a 52 week high of $17.80. The firm has a market capitalization of $3.44 billion, a PE ratio of 10.22 and a beta of 0.94. The business has a 50-day moving average of $14.90 and a two-hundred day moving average of $15.33.

Black Stone Minerals Announces Dividend

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 issued a $0.375 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 9.83%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 101.35%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Wednesday. Piper Sandler cut their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th.

Insiders Place Their Bets

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 100,000 shares of Black Stone Minerals stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the acquisition, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the purchase, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director D Mark Dewalch purchased 34,200 shares of Black Stone Minerals stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the transaction, the director now directly owns 357,005 shares in the company, valued at $5,219,413.10. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 18.60% of the company’s stock.

Black Stone Minerals Company Profile

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.