Black Stone Minerals (NYSE:BSM) Posts Quarterly Earnings Results

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

Black Stone Minerals Trading Up 0.5 %

BSM stock traded up $0.07 during midday trading on Wednesday, reaching $14.69. The company had a trading volume of 133,807 shares, compared to its average volume of 465,794. The company has a 50 day moving average of $15.63 and a two-hundred day moving average of $15.80. The company has a market capitalization of $3.09 billion, a P/E ratio of 9.49 and a beta of 0.93. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $18.55.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be paid a $0.375 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.50 annualized dividend and a yield of 10.21%. Black Stone Minerals’s dividend payout ratio is presently 97.40%.

Analyst Ratings Changes

Several research firms have weighed in on BSM. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp started coverage on Black Stone Minerals in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.50.

About Black Stone Minerals

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.