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

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.375 per share by the oil and gas producer on Friday, May 17th. This represents a $1.50 dividend on an annualized basis and a yield of 9.77%. The ex-dividend date is Thursday, May 9th.

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 $1.60 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 Performance

Shares of Black Stone Minerals stock opened at $15.36 on Friday. The firm has a 50-day moving average of $15.71 and a 200-day moving average of $16.49. Black Stone Minerals has a 52-week low of $14.80 and a 52-week high of $18.55. The stock has a market cap of $3.23 billion, a PE ratio of 8.21 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. Black Stone Minerals had a net margin of 70.46% and a return on equity of 42.38%. The firm had revenue of $190.84 million during the quarter, compared to the consensus estimate of $142.67 million. During the same quarter in the previous year, the firm posted $0.71 EPS. Equities research analysts predict that Black Stone Minerals will post 1.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report 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 report on Tuesday, January 23rd.

Insider Buying and Selling at Black Stone Minerals

In related news, Director D Mark Dewalch acquired 3,250 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $15.47 per share, with a total value of $50,277.50. Following the transaction, the director now directly owns 320,436 shares of the company’s stock, valued at $4,957,144.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vident Advisory LLC raised its position 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 purchasing an additional 935 shares during the period. Harbour Investments Inc. increased its position in shares of Black Stone Minerals by 21.6% during the fourth quarter. Harbour Investments Inc. now owns 10,467 shares of the oil and gas producer’s stock worth $167,000 after acquiring an additional 1,861 shares in the last quarter. Creative Planning bought a new stake in shares of Black Stone Minerals during the second quarter worth about $166,000. Linscomb & Williams Inc. raised its holdings in shares of Black Stone Minerals by 7.3% in the 1st quarter. Linscomb & Williams Inc. now owns 11,801 shares of the oil and gas producer’s stock worth $159,000 after acquiring an additional 801 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Black Stone Minerals by 80.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,549 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 3,375 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

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.