Black Stone Minerals (NYSE:BSM) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Black Stone Minerals (NYSE:BSM) released its earnings results on Monday. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05), Zacks reports. Black Stone Minerals had a net margin of 57.23% and a return on equity of 36.85%. The company had revenue of $99.73 million for the quarter, compared to analyst estimates of $116.41 million.

Black Stone Minerals Stock Down 1.4%

Black Stone Minerals stock opened at $14.68 on Wednesday. Black Stone Minerals has a fifty-two week low of $12.93 and a fifty-two week high of $15.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.76 and a current ratio of 3.76. The firm’s 50-day simple moving average is $14.77 and its 200 day simple moving average is $14.50. The stock has a market cap of $3.12 billion, a PE ratio of 14.39 and a beta of 0.14.

Black Stone Minerals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 9.5%. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, November 6th. Black Stone Minerals’s dividend payout ratio is presently 105.79%.

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, Director James Whitehead sold 2,127,105 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total transaction of $28,099,057.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research cut Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Weiss Ratings upgraded shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $15.00.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P. (NYSE: BSM) is a publicly traded master limited partnership that owns mineral and royalty interests in oil and natural gas properties across the United States. The company’s interests entitle it to receive a portion of production or revenue from properties operated and developed by exploration and production companies, generally without bearing the same level of operating costs as working-interest owners.

Black Stone’s portfolio includes mineral, royalty, overriding royalty and working interests in several major U.S.