No. It's more like capitalism. Consider me a shareholder in "State of Minnesota, Inc." and that entitles me to a portion of the profits. Not much different.
What sort of dividends did Minnesota pay out to shareholders last quarter?
In Texas, they had a lot of oil on state lands, and they spent it on roads and schools. The people did not get any checks in the mail.
Oklahoma did the same thing. In Louisiana a lot more went to graft and corruption than in TX and OK, but they got a goodly amount as well.
If an industry belongs to the state and the state divvies up the money, that isn't capitalism. Capitalism deals with investments more than with sharing. Even old US copanies rarely pay out more than a minor share of the profits.