Black Stone Minerals, L.P. (BSM) To Go Ex-Dividend on May 9th

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 paid 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 of this dividend 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 Price Performance

Shares of BSM 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. The company has a market cap of $3.23 billion, a P/E ratio of 8.21 and a beta of 0.92. Black Stone Minerals has a one year low of $14.80 and a one year high of $18.55.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 EPS for the quarter, beating the consensus estimate 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 company had revenue of $190.84 million during the quarter, compared to the consensus estimate of $142.67 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, research analysts expect that Black Stone Minerals will post 1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Black Stone Minerals news, Director D Mark Dewalch bought 3,250 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Money Concepts Capital Corp bought a new position in Black Stone Minerals during the fourth quarter worth about $30,000. Clearstead Advisors LLC bought a new position in Black Stone Minerals during the third quarter worth about $51,000. Harbour Investments Inc. bought a new position in Black Stone Minerals during the first quarter worth about $56,000. Covestor Ltd bought a new position in Black Stone Minerals during the first quarter worth about $77,000. Finally, Belpointe Asset Management LLC boosted its position in Black Stone Minerals by 3,556.4% during the first quarter. Belpointe Asset Management LLC now owns 5,960 shares of the oil and gas producer’s stock worth $94,000 after purchasing an additional 5,797 shares during the period. Institutional investors own 14.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BSM. Piper Sandler raised their price objective 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 decreased their price objective on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd.

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.