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, April 17th, Zacks reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.375 per share by the oil and gas producer on Friday, May 17th. This represents a $1.50 annualized dividend and a dividend yield of 9.77%. The ex-dividend date is Thursday, May 9th.

Black Stone Minerals has a dividend 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 $1.60 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 118.8%.

Black Stone Minerals Stock Performance

Shares of NYSE BSM opened at $15.36 on Friday. The business’s 50 day moving average price is $15.71 and its 200-day moving average price is $16.49. Black Stone Minerals has a fifty-two week low of $14.80 and a fifty-two week high of $18.55. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 8.21 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.15. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. The firm had revenue of $190.84 million for the quarter, compared to the consensus estimate of $142.67 million. During the same period in the prior year, the business posted $0.71 earnings per share. Sell-side analysts predict that Black Stone Minerals will post 1.42 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Black Stone Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of BSM. Morgan Stanley boosted its position in Black Stone Minerals by 144.9% during the 4th quarter. Morgan Stanley now owns 4,004,701 shares of the oil and gas producer’s stock valued at $67,559,000 after acquiring an additional 2,369,656 shares in the last quarter. UBS Group AG boosted its position in Black Stone Minerals by 12,416.2% during the 1st quarter. UBS Group AG now owns 1,587,809 shares of the oil and gas producer’s stock valued at $21,372,000 after acquiring an additional 1,575,123 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Black Stone Minerals by 239.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,152,661 shares of the oil and gas producer’s stock valued at $19,445,000 after acquiring an additional 812,840 shares in the last quarter. Epacria Capital Partners LLC bought a new stake in Black Stone Minerals during the 4th quarter valued at $12,149,000. Finally, Bank of America Corp DE boosted its position in shares of Black Stone Minerals by 1,353.9% in the 1st quarter. Bank of America Corp DE now owns 687,529 shares of the oil and gas producer’s stock worth $10,787,000 after purchasing an additional 640,241 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BSM shares. Piper Sandler increased their price target on 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 reduced their price objective on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd.

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.