Black Stone Minerals, L.P. Announces Quarterly Dividend of $0.38 (NYSE:BSM)

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.375 per share by the oil and gas producer on Friday, May 17th. This represents a $1.50 annualized dividend and a dividend yield of 9.04%. The ex-dividend date is Thursday, May 9th.

Black Stone Minerals has a dividend payout ratio of 123.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Black Stone Minerals to earn $1.59 per share next year, which means the company may not be able to cover its $1.90 annual dividend with an expected future payout ratio of 119.5%.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock opened at $16.59 on Wednesday. Black Stone Minerals has a 1 year low of $14.80 and a 1 year high of $18.55. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 8.87 and a beta of 0.91. The business has a fifty day simple moving average of $15.87 and a two-hundred day simple moving average of $16.33.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15. The company had revenue of $190.84 million during the quarter, compared to analysts’ expectations of $142.67 million. Black Stone Minerals had a net margin of 70.46% and a return on equity of 42.38%. During the same quarter last year, the company posted $0.71 EPS. As a group, equities analysts anticipate that Black Stone Minerals will post 1.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on BSM. Stifel Nicolaus dropped their price target on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Piper Sandler boosted their target price on shares of Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th.

Insider Activity

In other Black Stone Minerals news, Director D Mark Dewalch acquired 3,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $15.47 per share, for a total transaction of $50,277.50. Following the transaction, the director now directly owns 320,436 shares in the company, valued at $4,957,144.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 19.60% of the company’s stock.

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.