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

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.375 per share by the oil and gas producer on Friday, November 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.94%. The ex-dividend date of this dividend is Friday, November 8th.

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. Analysts expect Black Stone Minerals to earn $1.45 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 131.0%.

Black Stone Minerals Stock Performance

Shares of BSM stock opened at $15.09 on Friday. Black Stone Minerals has a 52-week low of $13.94 and a 52-week high of $18.55. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 9.80 and a beta of 0.93. The firm’s 50-day moving average is $14.83 and its 200-day moving average is $15.46.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The business had revenue of $109.62 million during the quarter, compared to the consensus estimate of $124.24 million. During the same quarter last year, the company posted $0.35 EPS. Sell-side analysts predict that Black Stone Minerals will post 1.31 EPS for the current fiscal year.

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction on Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the transaction, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director D Mark Dewalch bought 34,200 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $14.62 per share, with a total value of $500,004.00. Following the completion of the transaction, the director now directly owns 357,005 shares in the company, valued at approximately $5,219,413.10. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 19.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BSM. KeyCorp initiated coverage on Black Stone Minerals in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Piper Sandler lowered their price objective on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.50.

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.