Black Stone Minerals (NYSE:BSM) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Black Stone Minerals (NYSE:BSM) announced its earnings results on Monday. The oil and gas producer reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.19), FiscalAI reports. Black Stone Minerals had a net margin of 62.26% and a return on equity of 43.31%. The firm had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million.

Black Stone Minerals Trading Up 0.0%

BSM opened at $14.24 on Tuesday. The stock’s fifty day moving average is $14.74 and its two-hundred day moving average is $14.22. The company has a market capitalization of $3.02 billion, a P/E ratio of 11.13 and a beta of 0.07. Black Stone Minerals has a 52 week low of $11.78 and a 52 week high of $15.49. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.19.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.4%. The ex-dividend date is Friday, May 8th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 93.75%.

Insider Buying and Selling

In other Black Stone Minerals news, SVP Luke Stevens Putman sold 30,276 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $15.25, for a total transaction of $461,709.00. Following the transaction, the senior vice president directly owned 761,417 shares in the company, valued at $11,611,609.25. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC increased its position in 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 valued at $296,000 after purchasing an additional 1,104 shares during the period. Aristides Capital LLC increased its position in Black Stone Minerals by 3.3% during the 4th quarter. Aristides Capital LLC now owns 35,516 shares of the oil and gas producer’s stock valued at $472,000 after purchasing an additional 1,120 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in Black Stone Minerals during the 4th quarter valued at about $43,000. Beacon Pointe Advisors LLC increased its position in Black Stone Minerals by 5.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 79,792 shares of the oil and gas producer’s stock valued at $1,060,000 after purchasing an additional 4,002 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Black Stone Minerals during the 4th quarter valued at about $86,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BSM shares. Zacks Research downgraded shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Finally, Piper Sandler increased their target price on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $14.00.

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.