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

Key Points

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Black Stone Minerals (NYSE:BSM - Get Free Report) released its earnings results on Monday. The oil and gas producer reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.23, Zacks reports. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.45%. The company had revenue of $159.49 million for the quarter, compared to the consensus estimate of $112.19 million.

Black Stone Minerals Price Performance

NYSE:BSM traded down $0.07 during trading hours on Wednesday, reaching $12.67. 457,841 shares of the company were exchanged, compared to its average volume of 446,643. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.08. The stock's 50-day moving average is $13.07 and its 200-day moving average is $14.06. The firm has a market cap of $2.68 billion, a PE ratio of 10.92 and a beta of 0.28. Black Stone Minerals has a twelve month low of $11.98 and a twelve month high of $15.66.

Black Stone Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders 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 9.5%. Black Stone Minerals's dividend payout ratio is presently 163.04%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen cut shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

Insiders Place Their Bets

In related news, CEO Thomas L. Carter, Jr. acquired 14,500 shares of Black Stone Minerals stock in a transaction on Wednesday, May 21st. The stock was bought at an average cost of $13.52 per share, for a total transaction of $196,040.00. Following the completion of the transaction, the chief executive officer owned 3,349,621 shares of the company's stock, valued at approximately $45,286,875.92. The trade was a 0.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Carrie Pearson Clark sold 36,900 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $13.56, for a total transaction of $500,364.00. Following the transaction, the senior vice president owned 165,857 shares of the company's stock, valued at $2,249,020.92. This represents a 18.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company's stock.

Institutional Investors Weigh In On Black Stone Minerals

A hedge fund recently raised its stake in Black Stone Minerals stock. Royal Bank of Canada raised its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,894 shares of the oil and gas producer's stock after buying 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 and hedge funds.

About Black Stone Minerals

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.