Black Stone Minerals (NYSE:BSM) Announces Earnings Results

Black Stone Minerals (NYSE:BSM) issued its quarterly earnings results on Monday. The oil and gas producer reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.08), Yahoo Finance reports. The business had revenue of $109.62 million for the quarter, compared to the consensus estimate of $124.24 million. Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. During the same period in the prior year, the business earned $0.35 earnings per share.

Black Stone Minerals Price Performance

NYSE BSM traded down $0.11 on Wednesday, hitting $14.51. 567,112 shares of the stock were exchanged, compared to its average volume of 468,664. The company has a market capitalization of $3.05 billion, a PE ratio of 9.42 and a beta of 0.93. The business’s fifty day moving average is $15.60 and its 200 day moving average is $15.79. Black Stone Minerals has a 52 week low of $13.94 and a 52 week high of $18.55.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 9th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.50 dividend on an annualized basis and a yield of 10.34%. Black Stone Minerals’s payout ratio is 97.40%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BSM shares. KeyCorp assumed coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Black Stone Minerals presently has a consensus rating of “Hold” and a consensus target price of $18.50.

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.