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

Black Stone Minerals, L.P. (NYSE:BSM) announced 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% 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 NYSE:BSM opened at $15.36 on Friday. The company has a market capitalization of $3.23 billion, a P/E ratio of 8.21 and a beta of 0.92. The company’s 50-day moving average is $15.71 and its 200 day moving average is $16.49. Black Stone Minerals has a fifty-two week low of $14.80 and a fifty-two week high of $18.55.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.71 EPS. As a group, research analysts predict that Black Stone Minerals will post 1.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on BSM shares. Piper Sandler lifted their price target on shares of Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Stifel Nicolaus lowered their target price 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.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch acquired 3,250 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $15.47 per share, for a total transaction of $50,277.50. Following the completion of the transaction, the director now directly owns 320,436 shares of the company’s stock, valued at $4,957,144.92. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Black Stone Minerals by 29.2% in the 1st quarter. Acadian Asset Management LLC now owns 37,467 shares of the oil and gas producer’s stock valued at $502,000 after purchasing an additional 8,473 shares during the last quarter. Moors & Cabot Inc. raised its position in Black Stone Minerals by 2.6% in the first quarter. Moors & Cabot Inc. now owns 70,100 shares of the oil and gas producer’s stock valued at $944,000 after purchasing an additional 1,750 shares during the period. Covestor Ltd acquired a new stake in Black Stone Minerals in the 1st quarter valued at approximately $77,000. First Trust Advisors LP lifted its stake in Black Stone Minerals by 48.5% during the first quarter. First Trust Advisors LP now owns 325,532 shares of the oil and gas producer’s stock worth $4,382,000 after purchasing an additional 106,352 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in Black Stone Minerals by 29.2% during the first quarter. Ancora Advisors LLC now owns 870,043 shares of the oil and gas producer’s stock worth $7,587,000 after purchasing an additional 196,837 shares during the period. 14.49% of the stock is owned by hedge funds and other institutional investors.

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.