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

Black Stone Minerals, L.P. (NYSE:BSM) announced a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid 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 dividend 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. Research 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 Black Stone Minerals stock traded down $0.16 during trading on Thursday, reaching $14.75. The stock had a trading volume of 593,024 shares, compared to its average volume of 439,651. Black Stone Minerals has a 52 week low of $13.78 and a 52 week high of $16.92. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 9.10 and a beta of 0.94. The stock has a fifty day moving average price of $14.77 and a two-hundred day moving average price of $14.87.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $134.86 million for the quarter, compared to analyst estimates of $117.68 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities analysts forecast that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on BSM. Piper Sandler reduced their price target 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 note on Monday, December 16th.

About Black Stone Minerals

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.