Black Stone Minerals (NYSE:BSM) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Black Stone Minerals (NYSE:BSM - Get Free Report) announced its earnings results on Monday. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.06, Zacks reports. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. The company had revenue of $134.86 million for the quarter, compared to analyst estimates of $117.68 million. During the same period in the previous year, the firm earned $0.27 earnings per share.

Black Stone Minerals Price Performance

BSM stock traded down $0.03 during mid-day trading on Tuesday, reaching $14.91. The company had a trading volume of 602,406 shares, compared to its average volume of 440,308. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 10.13 and a beta of 0.94. The stock has a 50 day simple moving average of $14.89 and a two-hundred day simple moving average of $15.34. Black Stone Minerals has a 52 week low of $13.94 and a 52 week high of $18.55.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a $0.375 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 10.06%. Black Stone Minerals's payout ratio is currently 101.35%.

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch purchased 34,200 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the purchase, the director now owns 357,005 shares in the company, valued at approximately $5,219,413.10. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director D Mark Dewalch bought 34,200 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $14.62 per share, with a total value of $500,004.00. Following the completion of the transaction, the director now owns 357,005 shares of the company's stock, valued at $5,219,413.10. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now directly owns 116,923 shares of the company's stock, valued at approximately $1,735,137.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BSM. StockNews.com upgraded shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a report on Tuesday, August 6th. Piper Sandler lowered their price target on Black Stone Minerals from $17.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th.

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.