Black Stone Minerals (NYSE:BSM) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS
by Danessa Lincoln · The Markets DailyBlack Stone Minerals (NYSE:BSM – Get Free Report) released its quarterly earnings data on Monday. The oil and gas producer reported $0.21 earnings per share 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 Price Performance
Black Stone Minerals stock traded down $0.14 during trading on Monday, reaching $14.71. The company had a trading volume of 804,570 shares, compared to its average volume of 398,645. The firm has a market capitalization of $3.13 billion, a PE ratio of 12.15 and a beta of 0.14. The firm’s 50-day simple moving average is $14.78 and its 200 day simple moving average is $14.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.76 and a current ratio of 3.76. Black Stone Minerals has a 1-year low of $12.93 and a 1-year high of $15.49.
Black Stone Minerals Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be given a dividend of $0.35 per share. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Friday, November 6th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 105.79%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on BSM. Zacks Research cut Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report 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. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $15.00.
Get Our Latest Stock Report on Black Stone Minerals
Insider Transactions at Black Stone Minerals
In related news, Director James Whitehead sold 2,127,105 shares of Black Stone Minerals stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $13.21, for a total value of $28,099,057.05. The transaction was disclosed in a legal filing with the SEC, which is available through 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.
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