Black Stone Minerals, L.P. (BSM) to Issue Quarterly Dividend of $0.38 on May 17th

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 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 dividend yield of 9.00%. The ex-dividend date of this dividend is Thursday, May 9th.

Black Stone Minerals has a 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. 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

BSM stock opened at $16.67 on Tuesday. Black Stone Minerals has a 1-year low of $14.80 and a 1-year high of $18.55. The business has a 50 day simple moving average of $15.85 and a two-hundred day simple moving average of $16.34. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 8.91 and a beta of 0.91.

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

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch purchased 3,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $15.47 per share, with a total value of $50,277.50. Following the completion of the purchase, the director now directly owns 320,436 shares in the company, valued at $4,957,144.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BSM. Piper Sandler boosted their target price on shares of 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 decreased their price target on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock 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.