Black Stone Minerals (NYSE:BSM) Issues Earnings Results

Key Points

• Black Stone Minerals reported Q1 EPS of $0.03 versus a consensus $0.22 and revenue of $59.36M versus an expected $107.38M, a sizable miss to expectations.
• The firm declared a quarterly dividend of $0.30 (annualized $1.20) with a yield of 8.4% and a payout ratio of 93.75% (ex-dividend date May 8), which could raise sustainability concerns.
• Analyst sentiment is weak — a consensus rating of Reduce and average price target of $14.00, with recent downgrades including Zacks to "strong sell"; shares trade around $14.24 (P/E ~11.1).

Black Stone Minerals (NYSE:BSM - Get Free Report) posted its quarterly earnings data on Monday. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.19), FiscalAI reports. The company had revenue of $59.36 million during the quarter, compared to the consensus estimate of $107.38 million. Black Stone Minerals had a net margin of 62.26% and a return on equity of 43.31%.

Black Stone Minerals Stock Up 0.0%

Shares of BSM opened at $14.24 on Tuesday. The firm has a fifty day moving average price of $14.74 and a 200-day moving average price of $14.22. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.19. The firm 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 12-month low of $11.78 and a 12-month high of $15.49.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Friday, May 8th. Black Stone Minerals's payout ratio is currently 93.75%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, SVP Luke Stevens Putman sold 30,276 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $15.25, for a total value of $461,709.00. Following the transaction, the senior vice president owned 761,417 shares of the company's stock, valued at $11,611,609.25. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds have recently added to or reduced their stakes in BSM. IHT Wealth Management LLC increased its position in shares of Black Stone Minerals by 5.1% during the second quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer's stock worth $296,000 after acquiring an additional 1,104 shares during the period. Aristides Capital LLC boosted its holdings in shares of Black Stone Minerals by 3.3% in the fourth 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 stake in shares of Black Stone Minerals in the fourth quarter valued at approximately $43,000. Beacon Pointe Advisors LLC grew its stake in Black Stone Minerals by 5.3% in the fourth quarter. Beacon Pointe Advisors LLC now owns 79,792 shares of the oil and gas producer's stock worth $1,060,000 after purchasing an additional 4,002 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Black Stone Minerals in the fourth quarter worth approximately $86,000. 14.49% of the stock is currently owned by institutional investors.

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.