Black Stone Minerals, L.P. (NYSE:BSM) Declares Quarterly Dividend of $0.30

Key Points

• Black Stone Minerals, L.P. has declared a quarterly dividend of $0.30 per share, with an ex-dividend date of November 6th and a payment date of November 13th, representing a 9.6% annual dividend yield.
• The company has a payout ratio of 123.4%, indicating it relies on its balance sheet to cover dividends as earnings do not fully support the payout.
• Analysts have set a consensus target price of $13.00 for Black Stone Minerals, with the stock currently rated as a "Hold" by multiple research firms.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) declared a quarterly dividend on Wednesday, October 15th. Investors of record on Thursday, November 6th will be paid a dividend of 0.30 per share by the oil and gas producer on Thursday, November 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date of this dividend is Thursday, November 6th.

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. 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 0.6%

Shares of Black Stone Minerals stock opened at $12.50 on Thursday. Black Stone Minerals has a 52-week low of $11.78 and a 52-week high of $15.66. The company has a 50 day moving average of $12.60 and a 200 day moving average of $13.21. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.65 billion, a P/E ratio of 10.77 and a beta of 0.24.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.23. The company had revenue of $159.49 million during the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. As a group, research analysts forecast that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BSM has been the topic of a number of recent analyst reports. Zacks Research raised shares of Black Stone Minerals from a "strong sell" rating to a "hold" rating in a research report on Monday. Piper Sandler dropped their target price on shares of Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Black Stone Minerals in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $13.00.

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.

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