Black Stone Minerals (NYSE:BSM) Issues Quarterly Earnings Results

Key Points

• EPS shock: Black Stone Minerals reported quarterly EPS of $999.00, beating the consensus estimate of $0.22 by $998.78, and reported a 43.31% return on equity with a 62.26% net margin.
• Large dividend yield: The firm declared a quarterly dividend of $0.30 (annualized $1.20), with an ex-dividend date of May 8 and a yield of 8.4% and a payout ratio of 93.75%.
• Market and analyst backdrop: shares traded at $14.24 (market cap $3.02B, P/E 11.13), the consensus analyst rating is "Reduce" with a $14.00 target, and SVP Luke Putman sold 30,276 shares while insiders own 17.8% of the company.

Black Stone Minerals (NYSE:BSM - Get Free Report) released its quarterly earnings results on Monday. The oil and gas producer reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.22 by $998.78, Zacks reports. Black Stone Minerals had a return on equity of 43.31% and a net margin of 62.26%.

Black Stone Minerals Trading Up 0.0%

Shares of Black Stone Minerals stock traded up $0.00 on Monday, reaching $14.24. The company had a trading volume of 293,352 shares, compared to its average volume of 408,298. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 11.13 and a beta of 0.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.88 and a quick ratio of 3.88. The firm's 50-day moving average price is $14.74 and its two-hundred day moving average price is $14.22. Black Stone Minerals has a 1 year low of $11.78 and a 1 year 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 issued a $0.30 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.4%. Black Stone Minerals's payout ratio is 93.75%.

Insider Activity at Black Stone Minerals

In other news, SVP Luke Stevens Putman sold 30,276 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $15.25, for a total value of $461,709.00. Following the completion of the transaction, the senior vice president owned 761,417 shares in the company, valued at approximately $11,611,609.25. The trade was a 3.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.80% of the company's stock.

Hedge Funds Weigh In On Black Stone Minerals

Large investors have recently bought and sold shares of the business. Garton & Associates Financial Advisors LLC purchased a new position in Black Stone Minerals during the 4th quarter valued at $43,000. Kestra Advisory Services LLC purchased a new position in Black Stone Minerals during the 4th quarter valued at $86,000. Tower Research Capital LLC TRC boosted its holdings 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 acquiring an additional 7,197 shares during the period. Lido Advisors LLC bought a new stake in Black Stone Minerals during the 4th quarter valued at $134,000. Finally, EP Wealth Advisors LLC bought a new stake in Black Stone Minerals during the 4th quarter valued at $160,000. Hedge funds and other institutional investors own 14.49% of the company's stock.

Wall Street Analyst Weigh In

BSM has been the subject of several research analyst reports. Piper Sandler raised their price target on Black Stone Minerals from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Zacks Research cut Black Stone Minerals from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Black Stone Minerals in a report on Friday, April 24th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price 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.

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