Black Stone Minerals LP Declares Quarterly Dividend of $0.31 (BSM)

Black Stone Minerals LP (NYSE:BSM) announced a quarterly dividend on Friday, February 9th, Fidelity reports. Shareholders of record on Tuesday, February 20th will be paid a dividend of 0.3125 per share by the oil and gas producer on Tuesday, February 27th. This represents a $1.25 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date of this dividend is Friday, February 16th.

Black Stone Minerals has a dividend payout ratio of 162.3% meaning 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 $0.71 per share next year, which means the company may not be able to cover its $1.25 annual dividend with an expected future payout ratio of 176.1%.

Shares of Black Stone Minerals (NYSE BSM) opened at $17.78 on Thursday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.46. Black Stone Minerals has a 52 week low of $15.12 and a 52 week high of $19.03. The firm has a market capitalization of $1,794.99, a P/E ratio of 20.42 and a beta of 0.30.

In other news, CFO Jeffrey P. Wood sold 10,810 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $18.30, for a total value of $197,823.00. Following the transaction, the chief financial officer now owns 53,031 shares of the company’s stock, valued at $970,467.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Luke Stevens Putman sold 23,170 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $18.28, for a total value of $423,547.60. Following the completion of the transaction, the senior vice president now directly owns 257,141 shares in the company, valued at approximately $4,700,537.48. The disclosure for this sale can be found here. Insiders own 25.00% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research cut Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Stifel Nicolaus started coverage on Black Stone Minerals in a report on Wednesday, January 17th. They issued a “hold” rating and a $19.00 target price on the stock. Barclays set a $18.00 target price on Black Stone Minerals and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, TheStreet lowered Black Stone Minerals from a “b-” rating to a “c” rating in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $19.40.

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About Black Stone Minerals

Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.

Dividend History for Black Stone Minerals (NYSE:BSM)

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