Black Stone Minerals said on February 1, 2023 that its board of directors declared a regular quarterly dividend of $0.48 per share ($1.90 annualized). Shareholders of record as of February 15, 2023 will receive the payment on February 23, 2023. Previously, the company paid $0.45 per share.
At the current share price of $15.59 / share, the stock's dividend yield is 12.19%. Looking back five years and taking a sample every week, the average dividend yield has been 9.98%, the lowest has been 6.32%, and the highest has been 33.89%. The standard deviation of yields is 4.56 (n=237).
The current dividend yield is 0.48 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.88. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.28%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 35.22% Upside
As of February 7, 2023, the average one-year price target for Black Stone Minerals is $21.08. The forecasts range from a low of $18.18 to a high of $24.15. The average price target represents an increase of 35.22% from its latest reported closing price of $15.59.
The projected annual revenue for Black Stone Minerals is $701MM, a decrease of 4.51%. The projected annual EPS is $2.16, an increase of 10.93%.
Fund Sentiment
There are 172 funds or institutions reporting positions in Black Stone Minerals. This is an increase of 13 owner(s) or 8.18%.
Average portfolio weight of all funds dedicated to US:BSM is 1.2376%, an increase of 43.8210%. Total shares owned by institutions increased in the last three months by 7.91% to 36,369K shares.
What are large shareholders doing?
William Marsh Rice University holds 7,266,343 shares representing 3.47% ownership of the company. No change in the last quarter.
EdgePoint Investment Group holds 3,618,261 shares representing 1.73% ownership of the company. No change in the last quarter.
UBS Group holds 3,608,208 shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 2,757,288 shares, representing an increase of 23.58%. The firm increased its portfolio allocation in BSM by 59.71% over the last quarter.
Penn Davis Mcfarland holds 1,559,627 shares representing 0.74% ownership of the company. In it's prior filing, the firm reported owning 1,575,272 shares, representing a decrease of 1.00%. The firm increased its portfolio allocation in BSM by 4.32% over the last quarter.
Mudita Advisors LLP holds 1,454,522 shares representing 0.69% ownership of the company. No change in the last quarter.
Black Stone Minerals Background Information
(This description is provided by the company.)
Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The Company owns mineral interests and royalty interests in 41 states in the continental United States. Black Stone believes its large, diversified asset base and long-lived, non-cost-bearing mineral and royalty interests provide for relatively stable production and reserves over time, with minimal operating costs or capital requirements, allowing the majority of generated cash flow to be distributed to unitholders.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
