Black Stone Minerals (NYSE:BSM) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Black Stone Minerals (NYSE:BSM) issued its earnings results on Monday. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05, Zacks reports. Black Stone Minerals had a net margin of 61.31% and a return on equity of 40.08%.

Black Stone Minerals Stock Performance

NYSE:BSM traded down $0.21 during midday trading on Monday, reaching $14.87. 350,387 shares of the company traded hands, compared to its average volume of 371,971. Black Stone Minerals has a twelve month low of $11.78 and a twelve month high of $15.52. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 12.93 and a beta of 0.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 4.37. The company has a fifty day moving average price of $14.26 and a 200 day moving average price of $13.49.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 18th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.20 annualized dividend and a dividend yield of 8.1%. Black Stone Minerals’s dividend payout ratio (DPR) is 104.35%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BSM. KeyCorp reissued a “sector weight” rating on shares of Black Stone Minerals in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Black Stone Minerals has a consensus rating of “Hold” and an average price target of $13.00.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Black Stone Minerals by 7.0% during the first quarter. Royal Bank of Canada now owns 119,894 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 7,818 shares during the last quarter. Invesco Ltd. boosted its stake in Black Stone Minerals by 10.2% during the 2nd quarter. Invesco Ltd. now owns 94,180 shares of the oil and gas producer’s stock valued at $1,232,000 after purchasing an additional 8,730 shares during the period. Jump Financial LLC bought a new position in Black Stone Minerals in the 2nd quarter worth about $1,230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Black Stone Minerals by 5.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock worth $12,600,000 after purchasing an additional 49,818 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Black Stone Minerals by 6.6% during the second quarter. Raymond James Financial Inc. now owns 263,307 shares of the oil and gas producer’s stock valued at $3,444,000 after buying an additional 16,237 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company’s stock.

About Black Stone Minerals

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.