Black Stone Minerals, L.P. (BSM) to Issue Quarterly Dividend of $0.38 on February 25th

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.375 per share by the oil and gas producer on Tuesday, February 25th. This represents a $1.50 annualized dividend and a yield of 10.17%. The ex-dividend date is Tuesday, February 18th.

Black Stone Minerals has a 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. Equities 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 Performance

Black Stone Minerals stock opened at $14.75 on Friday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 9.10 and a beta of 0.94. Black Stone Minerals has a 1 year low of $13.78 and a 1 year high of $16.92. The firm’s 50 day moving average price is $14.77 and its two-hundred day moving average price is $14.87.

Black Stone Minerals (NYSE:BSM) last posted its quarterly 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. The firm had revenue of $134.86 million for the quarter, compared to analyst estimates of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, equities analysts predict that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSM has been the topic of several research analyst reports. Piper Sandler lowered their price objective on shares of 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 shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report 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.