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

Black Stone Minerals, L.P. (NYSE:BSM) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Stockholders of record on Friday, August 9th will be given a dividend of 0.375 per share by the oil and gas producer on Friday, August 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.78%. The ex-dividend date is Friday, August 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. Equities analysts expect Black Stone Minerals to earn $1.52 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 125.0%.

Black Stone Minerals Trading Up 0.3 %

BSM stock traded up $0.04 during mid-day trading on Thursday, hitting $15.33. 232,238 shares of the company were exchanged, compared to its average volume of 458,168. The firm has a fifty day simple moving average of $15.79 and a 200 day simple moving average of $15.88. The company has a market capitalization of $3.22 billion, a PE ratio of 9.95 and a beta of 0.93. Black Stone Minerals has a twelve month low of $14.88 and a twelve month high of $18.55.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, May 6th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.08). Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. The company had revenue of $105.49 million for the quarter, compared to the consensus estimate of $119.50 million. As a group, sell-side analysts anticipate that Black Stone Minerals will post 1.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, KeyCorp began coverage on Black Stone Minerals in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.50.

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.