Black Stone Minerals, L.P. (NYSE:BSM) Announces Dividend Increase – $0.32 Per Share

Black Stone Minerals, L.P. (NYSE:BSM) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Thursday, August 6th will be paid a dividend of 0.32 per share by the oil and gas producer on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend is Thursday, August 6th. This is a 6.7% increase from Black Stone Minerals’s previous quarterly dividend of $0.30.

Black Stone Minerals has raised its dividend by an average of 0.1%per year over the last three years. Black Stone Minerals has a payout ratio of 77.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Black Stone Minerals to earn $1.13 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 106.2%.

Black Stone Minerals Stock Up 1.1%

BSM stock opened at $14.53 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a market capitalization of $3.09 billion, a P/E ratio of 11.44 and a beta of 0.04. The business has a 50-day moving average of $13.92 and a 200-day moving average of $14.33. Black Stone Minerals has a fifty-two week low of $11.78 and a fifty-two week high of $15.49.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The firm had revenue of $59.36 million for the quarter, compared to the consensus estimate of $107.38 million. On average, sell-side analysts anticipate that Black Stone Minerals will post 0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research downgraded Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada assumed coverage on shares of Black Stone Minerals in a report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $15.00.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.