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

Black Stone Minerals (NYSE:BSM) issued its quarterly earnings data on Monday. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05), Zacks reports. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%.

Black Stone Minerals Stock Down 1.0%

Black Stone Minerals stock traded down $0.14 during mid-day trading on Monday, hitting $14.71. The company had a trading volume of 804,570 shares, compared to its average volume of 398,645. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 12.15 and a beta of 0.14. Black Stone Minerals has a 1 year low of $12.93 and a 1 year high of $15.49. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $14.78 and a 200 day moving average of $14.50.

Black Stone Minerals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be paid a $0.35 dividend. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 9.5%. The ex-dividend date is Friday, November 6th. Black Stone Minerals’s payout ratio is currently 105.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BSM. Weiss Ratings raised Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Zacks Research lowered Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Black Stone Minerals presently has an average rating of “Reduce” and an average price target of $15.00.

Insiders Place Their Bets

In other Black Stone Minerals news, Director James Whitehead sold 2,127,105 shares of the firm’s 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 available at this hyperlink. Insiders own 17.70% of the company’s stock.

About Black Stone Minerals

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.