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

Black Stone Minerals, L.P. (NYSE:BSM) declared 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 annualized dividend and a 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 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 Price Performance

NYSE:BSM opened at $16.59 on Wednesday. The company has a market capitalization of $3.49 billion, a P/E 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 has a 1 year low of $14.80 and a 1 year high of $18.55.

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

Insider Activity

In other news, Director D Mark Dewalch bought 3,250 shares of the stock in a transaction on Monday, February 26th. The shares were acquired at an average cost of $15.47 per share, for a total transaction of $50,277.50. Following the purchase, the director now directly owns 320,436 shares of the company’s stock, valued at approximately $4,957,144.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 19.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BSM. Piper Sandler lifted their target price on shares of Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note 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 for the company in a research note on Tuesday, January 23rd.

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.