What is KeyCorp’s Estimate for BSM Q3 Earnings?

Black Stone Minerals, L.P. (NYSE:BSM) – Stock analysts at KeyCorp issued their Q3 2024 earnings per share estimates for shares of Black Stone Minerals in a research note issued to investors on Wednesday, October 16th. KeyCorp analyst T. Rezvan forecasts that the oil and gas producer will post earnings of $0.34 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Black Stone Minerals’ current full-year earnings is $1.31 per share. KeyCorp also issued estimates for Black Stone Minerals’ Q4 2024 earnings at $0.35 EPS and FY2024 earnings at $1.25 EPS.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, August 5th. 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). Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The business had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $124.24 million. During the same quarter in the prior year, the firm earned $0.35 EPS.

Several other analysts have also recently weighed in on BSM. Piper Sandler cut their price objective on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.50.

Black Stone Minerals Price Performance

Shares of NYSE:BSM opened at $14.96 on Monday. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $18.55. The company has a market cap of $3.15 billion, a PE ratio of 9.71 and a beta of 0.93. The stock’s 50-day moving average is $14.84 and its 200 day moving average is $15.44.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.03%. Black Stone Minerals’s dividend payout ratio is currently 97.40%.

Insider Transactions at Black Stone Minerals

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the transaction, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

A number of hedge funds have recently added to or reduced their stakes in BSM. Summit Securities Group LLC purchased a new stake in Black Stone Minerals during the 2nd quarter valued at $74,000. SG Americas Securities LLC purchased a new stake in Black Stone Minerals during the 1st quarter valued at $102,000. Financial Advocates Investment Management purchased a new stake in Black Stone Minerals during the 2nd quarter valued at $159,000. Hilltop National Bank purchased a new stake in shares of Black Stone Minerals in the 1st quarter worth $177,000. Finally, Choreo LLC purchased a new stake in shares of Black Stone Minerals in the 2nd quarter worth $205,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

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.