Black Stone Minerals, L.P. (NYSE:BSM) Plans Dividend Increase – $0.32 Per Share

Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Thursday, August 6th will be given a dividend of 0.32 per share by the oil and gas producer on Thursday, August 13th. This represents a c) annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend is Thursday, August 6th. This is a 6.7% increase from Black Stone Minerals’s previous quarterly dividend of $0.30.

Black Stone Minerals has increased its dividend payment by an average of 0.1%annually over the last three years. Black Stone Minerals has a payout ratio of 77.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Black Stone Minerals to earn $1.13 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 106.2%.

Black Stone Minerals Stock Up 1.1%

Shares of NYSE:BSM opened at $14.53 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market capitalization of $3.09 billion, a PE ratio of 11.44 and a beta of 0.04. The firm’s 50-day moving average is $13.92 and its two-hundred day moving average is $14.33. Black Stone Minerals has a 1 year low of $11.78 and a 1 year high of $15.49.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.19). The business had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. Analysts predict that Black Stone Minerals will post 0.96 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada started coverage on shares of Black Stone Minerals in a research report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price target for the company. Zacks Research lowered Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $15.00.

About Black Stone Minerals

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.