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

Black Stone Minerals, L.P. (NYSE:BSM) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.375 per share by the oil and gas producer on Tuesday, February 25th. This represents a $1.50 dividend on an annualized basis and a yield of 10.17%. The ex-dividend date is Tuesday, February 18th.

Black Stone Minerals has a payout ratio of 123.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Black Stone Minerals to earn $1.44 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 131.9%.

Black Stone Minerals Trading Down 1.0 %

Shares of BSM stock traded down $0.16 on Thursday, hitting $14.75. 593,024 shares of the stock were exchanged, compared to its average volume of 439,651. The firm’s 50 day moving average is $14.77 and its two-hundred day moving average is $14.87. Black Stone Minerals has a one year low of $13.78 and a one year high of $16.92. The firm has a market capitalization of $3.11 billion, a PE ratio of 9.10 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The firm had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. During the same period last year, the company earned $0.27 earnings per share. On average, sell-side analysts expect that Black Stone Minerals will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Monday, December 16th.

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.