Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors of record on Tuesday, February 18th will be paid a dividend of 0.375 per share by the oil and gas producer on Tuesday, February 25th. This represents a $1.50 annualized dividend and a yield of 9.91%. The ex-dividend date of this dividend is Tuesday, February 18th.
Black Stone Minerals has a dividend 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 $1.44 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 2.5 %
Shares of NYSE BSM traded up $0.37 during midday trading on Monday, hitting $15.14. The stock had a trading volume of 526,955 shares, compared to its average volume of 435,810. The company has a market cap of $3.19 billion, a P/E ratio of 9.35 and a beta of 0.94. The business's 50 day moving average is $14.74 and its 200-day moving average is $14.86. Black Stone Minerals has a 52 week low of $13.78 and a 52 week high of $16.92.
Wall Street Analyst Weigh In
BSM has been the subject of several research analyst reports. Piper Sandler reduced their price objective on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, November 18th. StockNews.com upgraded shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a research note on Monday, December 16th.
Read Our Latest Stock Analysis on Black Stone Minerals
Black Stone Minerals Company Profile
(
Get Free Report)
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.
Further Reading
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