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

Black Stone Minerals (NYSE:BSM) released its earnings results on Monday. The oil and gas producer reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24, Zacks reports. The business had revenue of $148.97 million during the quarter, compared to the consensus estimate of $108.28 million. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.54%.

Black Stone Minerals Price Performance

Shares of BSM traded up $0.15 during midday trading on Wednesday, hitting $14.93. The company’s stock had a trading volume of 167,356 shares, compared to its average volume of 385,814. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. Black Stone Minerals has a one year low of $11.78 and a one year high of $15.49. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.76 and a beta of 0.04. The company’s fifty day simple moving average is $14.07 and its two-hundred day simple moving average is $14.40.

Black Stone Minerals Increases Dividend

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

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, Chairman Thomas L. Carter, Jr. acquired 19,154 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $13.48 per share, with a total value of $258,195.92. Following the completion of the transaction, the chairman owned 3,681,604 shares in the company, valued at approximately $49,628,021.92. This trade represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director D Mark Dewalch bought 36,363 shares of the stock in a transaction dated Monday, June 1st. The shares were acquired at an average price of $13.62 per share, for a total transaction of $495,264.06. Following the completion of the purchase, the director directly owned 631,248 shares in the company, valued at approximately $8,597,597.76. This trade represents a 6.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 179,254 shares of company stock worth $2,407,265 over the last three months. Company insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Garton & Associates Financial Advisors LLC bought a new position in shares of Black Stone Minerals during the 4th quarter valued at about $43,000. Kestra Advisory Services LLC purchased a new stake in shares of Black Stone Minerals during the fourth quarter worth about $86,000. Tower Research Capital LLC TRC raised its position in Black Stone Minerals by 7,822.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock valued at $95,000 after purchasing an additional 7,197 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $134,000. Finally, EP Wealth Advisors LLC purchased a new stake in Black Stone Minerals in the fourth quarter worth $160,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BSM has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Tuesday, July 21st. Royal Bank Of Canada assumed coverage on shares of Black Stone Minerals in a report on Friday, May 29th. They set a “sector perform” rating and a $16.00 target price for the company. Finally, Zacks Research upgraded Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.