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

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors 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 dividend yield of 10.17%. The ex-dividend date of this dividend 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. Equities 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 Price Performance

Black Stone Minerals stock traded down $0.16 during mid-day trading on Thursday, hitting $14.75. The company’s stock had a trading volume of 593,024 shares, compared to its average volume of 439,651. The firm’s 50 day moving average is $14.77 and its 200 day moving average is $14.87. The company has a market cap of $3.11 billion, a PE ratio of 9.10 and a beta of 0.94. Black Stone Minerals has a 52-week low of $13.78 and a 52-week high of $16.92.

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

Analysts Set New Price Targets

A number of research firms have issued reports on BSM. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Monday, December 16th. Piper Sandler decreased their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, November 18th.

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.