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

Black Stone Minerals, L.P. (NYSE:BSM) announced 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 10.06%. The ex-dividend date is Friday, November 8th.

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 $1.44 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 Price Performance

NYSE BSM opened at $14.91 on Wednesday. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 10.07 and a beta of 0.94. Black Stone Minerals has a 1-year low of $13.94 and a 1-year high of $18.55. The business’s fifty day moving average price is $14.89 and its 200-day moving average price is $15.33.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BSM shares. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Piper Sandler dropped their price target on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th.

Insider Transactions at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the acquisition, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the transaction, the senior vice president now owns 116,923 shares in the company, valued at approximately $1,735,137.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.60% of the company’s stock.

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.