Black Stone Minerals, L.P. to Post Q3 2022 Earnings of $0.40 Per Share, KeyCorp Forecasts (NYSE:BSM)

Black Stone Minerals, L.P. (NYSE:BSMGet Rating) – Research analysts at KeyCorp issued their Q3 2022 earnings per share (EPS) estimates for Black Stone Minerals in a report issued on Monday, September 19th. KeyCorp analyst T. Rezvan anticipates that the oil and gas producer will post earnings of $0.40 per share for the quarter. KeyCorp has a “Overweight” rating and a $22.00 price objective on the stock. The consensus estimate for Black Stone Minerals’ current full-year earnings is $1.65 per share. KeyCorp also issued estimates for Black Stone Minerals’ Q4 2022 earnings at $0.42 EPS, Q1 2023 earnings at $0.59 EPS, Q2 2023 earnings at $0.51 EPS, Q3 2023 earnings at $0.52 EPS, Q4 2023 earnings at $0.56 EPS and FY2023 earnings at $2.19 EPS.

Black Stone Minerals (NYSE:BSMGet Rating) last released its quarterly earnings results on Monday, August 1st. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $180.37 million during the quarter, compared to the consensus estimate of $156.08 million. Black Stone Minerals had a return on equity of 41.83% and a net margin of 60.34%. During the same quarter in the prior year, the company posted $0.25 EPS.

Several other research firms also recently issued reports on BSM. TheStreet upgraded Black Stone Minerals from a “c+” rating to a “b” rating in a research note on Friday, September 2nd. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, August 6th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Black Stone Minerals currently has an average rating of “Buy” and a consensus price target of $19.75.

Black Stone Minerals Stock Performance

BSM opened at $15.53 on Thursday. The company has a market cap of $3.48 billion, a PE ratio of 13.16 and a beta of 1.07. The stock has a 50-day moving average of $15.41 and a 200-day moving average of $14.82. Black Stone Minerals has a 52-week low of $9.70 and a 52-week high of $17.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25.

Black Stone Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 12th were paid a dividend of $0.42 per share. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.68 annualized dividend and a yield of 10.82%. Black Stone Minerals’s dividend payout ratio is presently 142.37%.

Insider Activity at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. purchased 20,000 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was purchased at an average price of $14.90 per share, with a total value of $298,000.00. Following the acquisition, the chief executive officer now directly owns 2,168,012 shares in the company, valued at approximately $32,303,378.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Thomas L. Carter, Jr. purchased 25,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was purchased at an average price of $16.39 per share, with a total value of $409,750.00. Following the acquisition, the chief executive officer now directly owns 2,273,012 shares in the company, valued at approximately $37,254,666.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas L. Carter, Jr. purchased 20,000 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was purchased at an average cost of $14.90 per share, with a total value of $298,000.00. Following the acquisition, the chief executive officer now owns 2,168,012 shares in the company, valued at $32,303,378.80. The disclosure for this purchase can be found here. Insiders acquired a total of 70,000 shares of company stock worth $1,114,500 in the last 90 days. 21.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its holdings in shares of Black Stone Minerals by 10.3% in the 2nd quarter. Captrust Financial Advisors now owns 50,129 shares of the oil and gas producer’s stock worth $686,000 after buying an additional 4,681 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Black Stone Minerals by 11.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 184,893 shares of the oil and gas producer’s stock worth $2,531,000 after buying an additional 18,979 shares in the last quarter. Arrow Investment Advisors LLC acquired a new stake in Black Stone Minerals during the 2nd quarter valued at $247,000. Chilton Capital Management LLC acquired a new stake in Black Stone Minerals during the 2nd quarter valued at $95,000. Finally, Creative Planning acquired a new stake in Black Stone Minerals during the 2nd quarter valued at $166,000. 15.06% of the stock is owned by institutional investors and hedge funds.

Black Stone Minerals Company Profile

(Get Rating)

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 1.7 million gross acres located in 41 states in the United States.

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Earnings History and Estimates for Black Stone Minerals (NYSE:BSM)

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