Black Stone Minerals (NYSE:BSM) Releases Earnings Results, Beats Estimates By $0.23 EPS

Key Points

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Black Stone Minerals (NYSE:BSM - Get Free Report) released its quarterly earnings data on Monday. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23, Zacks reports. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. The firm had revenue of $159.49 million during the quarter, compared to analysts' expectations of $112.19 million.

Black Stone Minerals Stock Performance

BSM stock traded up $0.01 during mid-day trading on Friday, reaching $12.26. The company had a trading volume of 226,659 shares, compared to its average volume of 446,671. Black Stone Minerals has a one year low of $11.98 and a one year high of $15.66. The company has a quick ratio of 1.35, a current ratio of 3.22 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $2.59 billion, a P/E ratio of 10.57 and a beta of 0.28. The stock's 50-day simple moving average is $13.03 and its two-hundred day simple moving average is $14.03.

Black Stone Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 9.8%. Black Stone Minerals's dividend payout ratio is currently 103.45%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BSM. Piper Sandler lowered their target price on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen downgraded Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Insider Buying and Selling

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 14,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average cost of $13.52 per share, for a total transaction of $196,040.00. Following the transaction, the chief executive officer directly owned 3,349,621 shares in the company, valued at $45,286,875.92. The trade was a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carrie Pearson Clark sold 36,900 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the transaction, the senior vice president directly owned 165,857 shares in the company, valued at $2,249,020.92. This trade represents a 18.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.80% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Black Stone Minerals stock. Royal Bank of Canada raised its position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 7.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,894 shares of the oil and gas producer's stock after purchasing an additional 7,818 shares during the quarter. Royal Bank of Canada owned about 0.06% of Black Stone Minerals worth $1,831,000 as of its most recent SEC filing. 14.49% of the stock is currently owned by institutional investors.

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.