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

Black Stone Minerals, L.P. (NYSE:BSM) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Friday, May 10th will be given a dividend of 0.375 per share by the oil and gas producer on Friday, May 17th. This represents a $1.50 dividend on an annualized basis and a yield of 9.00%. The ex-dividend date is Thursday, May 9th.

Black Stone Minerals has a dividend payout ratio of 123.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Performance

Shares of BSM stock opened at $16.67 on Tuesday. The stock’s fifty day moving average is $15.85 and its two-hundred day moving average is $16.34. The firm has a market capitalization of $3.51 billion, a P/E ratio of 8.91 and a beta of 0.91. Black Stone Minerals has a fifty-two week low of $14.80 and a fifty-two week high of $18.55.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. The company had revenue of $190.84 million for the quarter, compared to analyst estimates of $142.67 million. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. During the same quarter last year, the firm posted $0.71 EPS. On average, equities analysts forecast that Black Stone Minerals will post 1.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BSM. Piper Sandler lifted their price target on Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Stifel Nicolaus reduced their price objective on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd.

Insider Buying and Selling at Black Stone Minerals

In other news, Director D Mark Dewalch bought 3,250 shares of the company’s stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $15.47 per share, with a total value of $50,277.50. Following the transaction, the director now directly owns 320,436 shares in the company, valued at approximately $4,957,144.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.60% of the stock is currently owned by corporate insiders.

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.