Black Stone Minerals LP (BSM) Declares $0.37 Dividend

Black Stone Minerals LP (NYSE:BSM) announced a dividend on Thursday, February 7th, Fidelity reports. Shareholders of record on Tuesday, February 19th will be paid a dividend of 0.37 per share by the oil and gas producer on Tuesday, February 26th. The ex-dividend date of this dividend is Friday, February 15th.

Black Stone Minerals has increased its dividend payment by an average of 46.5% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Black Stone Minerals has a dividend payout ratio of 170.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Black Stone Minerals to earn $1.22 per share next year, which means the company may not be able to cover its $1.48 annual dividend with an expected future payout ratio of 121.3%.

Shares of BSM stock opened at $16.90 on Friday. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.73 and a beta of 0.61. Black Stone Minerals has a fifty-two week low of $15.23 and a fifty-two week high of $19.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.02.

A number of brokerages have recently commented on BSM. Raymond James set a $21.00 price target on Black Stone Minerals and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Zacks Investment Research cut Black Stone Minerals from a “buy” rating to a “sell” rating in a research note on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $20.25.

In other news, CFO Jeffrey P. Wood sold 8,000 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $17.51, for a total value of $140,080.00. Following the completion of the transaction, the chief financial officer now directly owns 110,219 shares in the company, valued at approximately $1,929,934.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William N. Mathis purchased 11,400 shares of the company’s stock in a transaction dated Tuesday, November 13th. The stock was purchased at an average price of $16.79 per share, with a total value of $191,406.00. Following the completion of the purchase, the director now directly owns 74,021 shares in the company, valued at approximately $1,242,812.59. The disclosure for this purchase can be found here. Insiders bought a total of 27,875 shares of company stock valued at $459,924 over the last quarter. 25.10% of the stock is owned by corporate insiders.

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Black Stone Minerals Company Profile

Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and in 64 onshore basins in the continental United States.

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Dividend History for Black Stone Minerals (NYSE:BSM)

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