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

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders 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 annualized dividend and a yield of 9.91%. The ex-dividend date is Friday, November 8th.

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. 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 Stock Up 1.5 %

Black Stone Minerals stock opened at $15.13 on Thursday. The stock has a 50-day simple moving average of $14.90 and a 200 day simple moving average of $15.33. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 10.22 and a beta of 0.94. Black Stone Minerals has a 12-month low of $13.94 and a 12-month high of $18.25.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The company had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, sell-side analysts anticipate that Black Stone Minerals will post 1.27 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Wednesday. Piper Sandler cut their price target on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th.

Insider Buying and Selling

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the purchase, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the transaction, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director D Mark Dewalch purchased 34,200 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $14.62 per share, with a total value of $500,004.00. Following the completion of the purchase, the director now owns 357,005 shares in the company, valued at $5,219,413.10. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.60% of the stock is currently owned by insiders.

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.