Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Tuesday, August 8th, NASDAQ reports. Investors of record on Thursday, August 17th will be given a dividend of 0.313 per share by the oil and gas producer on Thursday, August 24th. This represents a $1.25 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend is Tuesday, August 15th. This is an increase from Black Stone Minerals, L.P.’s previous quarterly dividend of $0.29.
Black Stone Minerals, L.P. has a dividend payout ratio of 166.7% 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, L.P. to earn $0.75 per share next year, which means the company may not be able to cover its $1.25 annual dividend with an expected future payout ratio of 166.7%.
Black Stone Minerals, L.P. (NYSE:BSM) traded up 0.80% during trading on Friday, hitting $16.46. 78,055 shares of the company traded hands. The stock has a 50-day moving average price of $16.30 and a 200-day moving average price of $16.61. The firm has a market capitalization of $3.23 billion, a P/E ratio of 22.36 and a beta of 0.30. Black Stone Minerals, L.P. has a 12-month low of $15.12 and a 12-month high of $19.86.
Black Stone Minerals, L.P. (NYSE:BSM) last announced its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.14. Black Stone Minerals, L.P. had a return on equity of 12.67% and a net margin of 22.71%. The business had revenue of $120.52 million during the quarter, compared to the consensus estimate of $95.87 million. Equities analysts expect that Black Stone Minerals, L.P. will post $0.71 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on the company. TheStreet upgraded Black Stone Minerals, L.P. from a “d+” rating to a “c” rating in a report on Thursday, June 8th. Zacks Investment Research upgraded Black Stone Minerals, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Barclays PLC decreased their price target on Black Stone Minerals, L.P. from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, July 13th. BidaskClub upgraded Black Stone Minerals, L.P. from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $18.00 price target on shares of Black Stone Minerals, L.P. in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Black Stone Minerals, L.P. currently has an average rating of “Hold” and an average price target of $19.00.
In other Black Stone Minerals, L.P. news, Director Alexander D. Stuart acquired 18,650 shares of Black Stone Minerals, L.P. stock in a transaction on Friday, June 9th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $298,400.00. Following the purchase, the director now directly owns 310,698 shares of the company’s stock, valued at $4,971,168. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 7,750 shares of Black Stone Minerals, L.P. stock in a transaction on Friday, June 9th. The stock was acquired at an average price of $15.86 per share, with a total value of $122,915.00. Following the purchase, the chief executive officer now directly owns 1,124,273 shares in the company, valued at $17,830,969.78. The disclosure for this purchase can be found here. 24.30% of the stock is owned by corporate insiders.
Black Stone Minerals, L.P. Company Profile
Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.
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