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

Black Stone Minerals, L.P. (NYSE:BSM) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Stockholders of record on Friday, August 9th will be given a dividend of 0.375 per share by the oil and gas producer on Friday, August 16th. This represents a $1.50 annualized dividend and a dividend yield of 9.78%. The ex-dividend date is Friday, August 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 research analysts expect Black Stone Minerals to earn $1.52 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 125.0%.

Black Stone Minerals Trading Up 0.3 %

BSM stock traded up $0.04 during trading on Thursday, hitting $15.33. The company had a trading volume of 232,238 shares, compared to its average volume of 458,168. The company has a fifty day moving average price of $15.79 and a two-hundred day moving average price of $15.88. Black Stone Minerals has a fifty-two week low of $14.88 and a fifty-two week high of $18.55. The company has a market cap of $3.22 billion, a P/E ratio of 9.97 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, May 6th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.08). The firm had revenue of $105.49 million during the quarter, compared to analyst estimates of $119.50 million. Black Stone Minerals had a net margin of 66.29% and a return on equity of 38.71%. On average, analysts expect that Black Stone Minerals will post 1.37 earnings per share for the current year.

Analyst Ratings Changes

Separately, KeyCorp assumed coverage on shares of Black Stone Minerals in a report on Thursday, June 27th. They set a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.50.

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.