Black Stone Minerals (NYSE:BSM) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Black Stone Minerals (NYSE:BSM) announced its 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. Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. The business had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $124.24 million. During the same quarter last year, the business posted $0.35 earnings per share.

Black Stone Minerals Stock Up 1.4 %

Shares of Black Stone Minerals stock traded up $0.21 during trading on Wednesday, reaching $14.83. The company’s stock had a trading volume of 221,408 shares, compared to its average volume of 466,374. The business has a 50 day moving average price of $15.63 and a 200-day moving average price of $15.80. Black Stone Minerals has a 12-month low of $13.94 and a 12-month high of $18.55. The company has a market capitalization of $3.12 billion, a P/E ratio of 9.49 and a beta of 0.93.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 10.11%. The ex-dividend date of this dividend is Friday, August 9th. Black Stone Minerals’s payout ratio is 97.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday. KeyCorp started coverage on Black Stone Minerals in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.