Black Stone Minerals, L.P. (NYSE:BSM) declared a quarterly dividend on Monday, November 6th, NASDAQ reports. Shareholders of record on Friday, November 17th will be given a dividend of 0.313 per share by the oil and gas producer on Friday, November 24th. This represents a $1.25 annualized dividend and a yield of 7.19%. The ex-dividend date of this dividend is Thursday, November 16th.
Black Stone Minerals, L.P. has a dividend payout ratio of 162.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Black Stone Minerals, L.P. to earn $0.72 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 173.6%.
Black Stone Minerals, L.P. (NYSE BSM) traded down $0.12 on Wednesday, reaching $17.42. The company’s stock had a trading volume of 112,300 shares, compared to its average volume of 149,430. Black Stone Minerals, L.P. has a 52 week low of $15.12 and a 52 week high of $19.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market capitalization of $1,813.94, a price-to-earnings ratio of 20.64 and a beta of 0.30.
Several research firms have issued reports on BSM. TheStreet lowered Black Stone Minerals, L.P. from a “b-” rating to a “c” rating in a research note on Monday, October 30th. Zacks Investment Research upgraded Black Stone Minerals, L.P. from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Piper Jaffray Companies cut their target price on Black Stone Minerals, L.P. from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $18.00 target price on shares of Black Stone Minerals, L.P. in a research note on Friday, September 22nd. Finally, Scotiabank set a $20.00 target price on Black Stone Minerals, L.P. and gave the company a “hold” rating in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.60.
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About Black Stone Minerals, L.P.
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.
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