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

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Friday, May 10th will be given 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 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 $1.60 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 Down 2.3 %

BSM opened at $15.36 on Friday. Black Stone Minerals has a 52 week low of $14.80 and a 52 week high of $18.55. The business has a fifty day simple moving average of $15.71 and a 200-day simple moving average of $16.49. The firm has a market cap of $3.23 billion, a P/E ratio of 8.21 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 EPS 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 business had revenue of $190.84 million during the quarter, compared to analyst estimates of $142.67 million. During the same period last year, the business posted $0.71 earnings per share. Sell-side analysts expect that Black Stone Minerals will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch purchased 3,250 shares of the business’s 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 completion of the purchase, the director now directly owns 320,436 shares in the company, valued at $4,957,144.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.60% of the stock is owned by insiders.

Institutional Trading of Black Stone Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. increased its position in shares of Black Stone Minerals by 21.4% during the second quarter. Harbour Investments Inc. now owns 4,372 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 772 shares in the last quarter. Linscomb & Williams Inc. grew its holdings in shares of Black Stone Minerals by 7.3% during the first quarter. Linscomb & Williams Inc. now owns 11,801 shares of the oil and gas producer’s stock worth $159,000 after buying an additional 801 shares during the last quarter. Creative Planning grew its holdings in shares of Black Stone Minerals by 7.5% during the fourth quarter. Creative Planning now owns 13,179 shares of the oil and gas producer’s stock worth $210,000 after buying an additional 921 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Black Stone Minerals by 8.3% during the fourth quarter. Vident Advisory LLC now owns 12,261 shares of the oil and gas producer’s stock worth $196,000 after buying an additional 935 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Black Stone Minerals by 4.7% during the fourth quarter. US Bancorp DE now owns 22,450 shares of the oil and gas producer’s stock worth $358,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company’s stock.

Analysts Set New Price Targets

BSM has been the topic of several analyst reports. Piper Sandler increased their price objective on Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a research note 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 research note on Tuesday, January 23rd.

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.