Symbols / BSM Stock $13.70 -1.08% Black Stone Minerals, L.P.

Energy • Oil & Gas E&P • United States • NYQ
BSM (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
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Index EQUITY
Sector Energy
Industry Oil & Gas E&P
CEO Mr. H. Taylor DeWalch
Exch · Country NYQ · United States
Market Cap 2.91B
Enterprise Value 3.39B
Income 267.79M
Sales 410.17M
FCF (ttm) 95.45M
Book/sh 3.64
Cash/sh 0.06
Employees —
Insider 10d —
IPO Apr 30, 2015
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 100.39%
P/E 10.79
Forward P/E 12.02
PEG 1.70
P/S 7.10
P/B 3.76
P/C —
EV/EBITDA 9.77
EV/Sales 8.26
Quick Ratio 2.12
Current Ratio 2.33
Debt/Eq 17.42
LT Debt/Eq —
EPS (ttm) 1.27
EPS next Y 1.14
EPS Growth -30.50%
Revenue Growth 8.50%
EPS Gr Q/Q -16.80%
Rev Gr Q/Q —
Earnings (next) 2026-08-03
Earnings (prior) 2026-05-04
ROA 14.93%
ROE 27.80%
ROIC —
Gross Margin 88.32%
Oper. Margin 14.16%
Profit Margin 72.47%
Shs Outstand 212.50M
Shs Float 157.17M
Insider Own 20.82%
Instit Own 18.63%
Short Float 2.31%
Short Ratio 9.88
Short Interest 4.05M
52W High 15.49
vs 52W High -11.56%
52W Low 11.78
vs 52W Low 16.30%
Beta 0.02
Impl. Vol. 6.25%
Rel Volume 1.57
Avg Volume 407.57K
Volume 640.23K
Target (mean) $16.00
Tgt Median $16.00
Tgt Low $16.00
Tgt High $16.00
# Analysts 1
Recom Hold
Prev Close $13.85
Price $13.70
Change -1.08%
About

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.9 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. The company was founded in 1876 and is based in Houston, Texas.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$16.00
Mean price target
2. Current target
$13.70
Latest analyst target
3. DCF / Fair value
$8.08
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$13.70
Low
$16.00
High
$16.00
Mean
$16.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-29 init RBC Capital — → Sector Perform $16
2026-03-05 main Piper Sandler Neutral → Neutral $14
2025-08-14 main Piper Sandler Neutral → Neutral $13
2025-05-13 main Piper Sandler Neutral → Neutral $14
2025-04-22 main Piper Sandler Neutral → Neutral $15
2025-03-06 main Piper Sandler Neutral → Neutral $16
2024-11-18 main Piper Sandler Neutral → Neutral $14
2024-08-15 main Piper Sandler Neutral → Neutral $15
2024-06-27 init Keybanc — → Sector Weight —
2024-03-07 main Piper Sandler Neutral → Neutral $17
2024-01-24 main Piper Sandler Neutral → Neutral $16
2024-01-23 main Stifel Buy → Buy $20
2023-11-16 main Piper Sandler Neutral → Neutral $17
2023-10-24 down Raymond James Outperform → Market Perform —
2023-08-14 main Piper Sandler Neutral → Neutral $16
2023-07-24 init Raymond James — → Outperform $21
2023-06-13 main Piper Sandler Neutral → Neutral $14
2023-05-18 main Piper Sandler Neutral → Neutral $15
2023-04-21 main Raymond James — → Outperform $21
2023-04-19 main Piper Sandler — → Neutral $16
News
RSS: Latest BSM news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-06-01 DEWALCH D. MARK Director — 72,726 $13.48 $985,354
2026-05-28 DEWALCH D. MARK Director — 37,650 $13.21 $497,341
2026-05-13 CARTER THOMAS L JR Officer and Director — 1,120 $13.50 $15,120
2026-05-12 CARTER THOMAS L JR Officer and Director — 67,758 $13.32 $909,335
2026-05-12 LONGMAID ASHLEY J Director — 11,128 $13.45 $149,697
2026-05-05 PUTMAN LUKE STEVENS General Counsel — 29,386 $13.75 $403,999
2026-04-06 PUTMAN LUKE STEVENS General Counsel — 29,386 $14.45 $424,678
2026-04-06 PUTMAN LUKE STEVENS General Counsel — 29,386 $14.45 $424,678
2026-04-02 HAMMAN ANNE LENOIR Director — 473 $15.12 $7,152
2026-04-02 KYLE JERRY V JR. Director — 1,240 $15.12 $18,749
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
422.33
-3.89%
439.43
-12.31%
501.10
-36.11%
784.28
Operating Revenue
422.33
-3.89%
439.43
-12.31%
501.10
-36.11%
784.28
Cost Of Revenue
86.05
-17.64%
104.48
-8.39%
114.05
-9.78%
126.42
Reconciled Cost Of Revenue
86.05
-17.64%
104.48
-8.39%
114.05
-9.78%
126.42
Gross Profit
336.28
+0.40%
334.95
-13.46%
387.05
-41.17%
657.87
Operating Expense
75.47
+34.49%
56.12
+2.69%
54.65
-0.11%
54.71
Selling General And Administration
55.46
+6.49%
52.08
+1.22%
51.45
-4.09%
53.65
General And Administrative Expense
55.46
+6.49%
52.08
+1.22%
51.45
-4.09%
53.65
Other Gand A
55.46
+6.49%
52.08
+1.22%
51.45
-4.09%
53.65
Other Operating Expenses
20.01
+396.11%
4.03
+26.43%
3.19
+202.66%
1.05
Total Expenses
161.52
+0.58%
160.59
-4.80%
168.69
-6.86%
181.12
Operating Income
260.81
-6.47%
278.84
-16.12%
332.41
-44.89%
603.16
Total Operating Income As Reported
308.40
+12.92%
273.11
-35.53%
423.60
-12.21%
482.50
EBITDA
345.75
+8.17%
319.63
-32.14%
470.99
-11.23%
530.57
Normalized EBITDA
298.16
-8.36%
325.36
-14.33%
379.80
-41.68%
651.23
Reconciled Depreciation
36.89
-18.38%
45.20
-1.07%
45.68
-4.44%
47.80
EBIT
308.86
+12.54%
274.44
-35.47%
425.30
-11.90%
482.77
Total Unusual Items
47.59
+930.56%
-5.73
-106.28%
91.19
+175.57%
-120.66
Total Unusual Items Excluding Goodwill
47.59
+930.56%
-5.73
-106.28%
91.19
+175.57%
-120.66
Special Income Charges
0.00
0.00
-100.00%
0.07
+329.41%
0.02
Impairment Of Capital Assets
—
—
—
0.00
Net Income
299.93
+10.54%
271.33
-35.79%
422.55
-11.32%
476.48
Pretax Income
299.93
+10.54%
271.33
-35.79%
422.55
-11.32%
476.48
Net Non Operating Interest Income Expense
-8.69
-502.43%
-1.44
-62.68%
-0.89
+85.77%
-6.23
Interest Expense Non Operating
8.93
+187.23%
3.11
+12.89%
2.75
-56.19%
6.29
Net Interest Income
-8.69
-502.43%
-1.44
-62.68%
-0.89
+85.77%
-6.23
Interest Expense
8.93
+187.23%
3.11
+12.89%
2.75
-56.19%
6.29
Interest Income Non Operating
0.24
-85.77%
1.67
-10.77%
1.87
+3422.64%
0.05
Interest Income
0.24
-85.77%
1.67
-10.77%
1.87
+3422.64%
0.05
Other Income Expense
47.82
+888.20%
-6.07
-106.66%
91.03
+175.58%
-120.45
Other Non Operating Income Expenses
0.23
+167.95%
-0.34
-110.63%
-0.16
-174.42%
0.21
Gain On Sale Of Security
47.59
+930.56%
-5.73
-106.29%
91.12
+175.50%
-120.68
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
9.99
+930.56%
-1.20
-106.28%
19.15
+175.57%
-25.34
Net Income Including Noncontrolling Interests
299.93
+10.54%
271.33
-35.79%
422.55
-11.32%
476.48
Net Income From Continuing Operation Net Minority Interest
299.93
+10.54%
271.33
-35.79%
422.55
-11.32%
476.48
Net Income From Continuing And Discontinued Operation
299.93
+10.54%
271.33
-35.79%
422.55
-11.32%
476.48
Net Income Continuous Operations
299.93
+10.54%
271.33
-35.79%
422.55
-11.32%
476.48
Normalized Income
262.34
-4.90%
275.85
-21.30%
350.51
-38.70%
571.80
Net Income Common Stockholders
270.47
+11.83%
241.86
-39.65%
400.77
-12.01%
455.48
Diluted EPS
1.28
+11.30%
1.15
-38.83%
1.88
-11.32%
2.12
Basic EPS
1.28
+11.30%
1.15
-39.79%
1.91
-12.39%
2.18
Basic Average Shares
211.67
+0.47%
210.68
+0.34%
209.97
+0.28%
209.38
Diluted Average Shares
211.73
+0.45%
210.78
-6.36%
225.10
+0.29%
224.45
Diluted NI Availto Com Stockholders
270.47
+11.83%
241.86
-42.76%
422.55
-11.32%
476.48
Average Dilution Earnings
—
0.00
-100.00%
21.78
+3.70%
21.00
Gain On Sale Of PPE
0.00
0.00
-100.00%
0.07
+329.41%
0.02
Preferred Stock Dividends
29.47
+0.00%
29.47
+35.31%
21.78
+3.70%
21.00
Line Item Trend 2024-12-31 2023-12-31
Total Assets
1,218.91
-3.79%
1,266.88
Current Assets
78.54
-59.33%
193.13
Cash Cash Equivalents And Short Term Investments
2.52
-96.42%
70.28
Cash And Cash Equivalents
2.52
-96.42%
70.28
Receivables
71.09
-13.57%
82.25
Accounts Receivable
4.05
-94.78%
77.56
Other Receivables
67.05
+1328.66%
4.69
Prepaid Assets
—
—
Hedging Assets Current
1.82
-95.23%
38.27
Other Current Assets
3.11
+34.02%
2.32
Total Non Current Assets
1,140.36
+6.20%
1,073.76
Net PPE
1,134.04
+6.43%
1,065.50
Gross PPE
3,122.01
+2.64%
3,041.56
Accumulated Depreciation
-1,987.97
-0.60%
-1,976.06
Other Properties
16.55
+9.13%
15.17
Non Current Deferred Assets
—
—
Other Non Current Assets
6.32
-23.43%
8.26
Total Liabilities Net Minority Interest
89.47
+80.60%
49.54
Current Liabilities
30.42
+17.75%
25.84
Payables And Accrued Expenses
14.12
-7.31%
15.23
Payables
12.44
-1.61%
12.65
Accounts Payable
5.95
-5.17%
6.27
Current Accrued Expenses
1.68
-35.18%
2.58
Employee Benefits
1.23
-27.37%
1.70
Pensionand Other Post Retirement Benefit Plans Current
8.36
+3.92%
8.04
Total Tax Payable
6.50
+1.88%
6.38
Current Debt And Capital Lease Obligation
0.71
—
Current Capital Lease Obligation
0.71
—
Other Current Liabilities
7.24
+182.29%
2.56
Total Non Current Liabilities Net Minority Interest
59.04
+149.10%
23.70
Long Term Debt And Capital Lease Obligation
25.00
—
Long Term Debt
25.00
—
Long Term Provisions
19.29
+1.35%
19.03
Other Non Current Liabilities
1.94
-32.84%
2.89
Stockholders Equity
0.00
0.00
Common Stock Equity
1,129.44
-7.22%
1,217.35
Share Issued
210.69
+0.34%
209.99
Ordinary Shares Number
210.69
+0.34%
209.99
Total Equity Gross Minority Interest
1,129.44
-7.22%
1,217.35
Total Capitalization
1,154.44
-5.17%
1,217.35
Working Capital
48.12
-71.24%
167.29
Invested Capital
1,154.44
-5.17%
1,217.35
Total Debt
25.71
—
Net Debt
22.48
—
Capital Lease Obligations
0.71
—
Net Tangible Assets
0.00
0.00
Tangible Book Value
1,129.44
-7.22%
1,217.35
Derivative Product Liabilities
11.58
+14197.53%
0.08
General Partnership Capital
0.00
0.00
Limited Partnership Capital
1,129.44
-7.22%
1,217.35
Preferred Shares Number
14.71
+0.00%
14.71
Total Partnership Capital
1,129.44
-7.22%
1,217.35
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
310.17
-20.27%
389.04
-25.36%
521.25
+22.65%
424.98
Cash Flow From Continuing Operating Activities
310.17
-20.27%
389.04
-25.36%
521.25
+22.65%
424.98
Net Income From Continuing Operations
299.93
+10.54%
271.33
-35.79%
422.55
-11.32%
476.48
Depreciation Amortization Depletion
36.89
-18.38%
45.20
-1.07%
45.68
-4.44%
47.80
Other Non Cash Items
12.67
-72.88%
46.73
-44.74%
84.57
+142.09%
-200.90
Stock Based Compensation
9.62
+12.33%
8.56
-20.92%
10.83
-37.72%
17.39
Asset Impairment Charge
—
—
—
0.00
Operating Gains Losses
-47.59
-930.56%
5.73
+106.28%
-91.19
-175.57%
120.66
Gain Loss On Investment Securities
-47.59
-930.56%
5.73
+106.29%
-91.12
-175.50%
120.68
Change In Working Capital
-1.35
-111.79%
11.50
-76.45%
48.81
+233.91%
-36.45
Change In Receivables
5.54
-50.68%
11.24
-78.81%
53.05
+234.27%
-39.51
Changes In Account Receivables
5.54
-50.68%
11.24
-78.81%
53.05
+234.27%
-39.51
Change In Prepaid Assets
-6.61
-738.28%
-0.79
-90.58%
-0.41
-911.76%
0.05
Change In Payables And Accrued Expense
-0.29
-127.45%
1.04
+127.23%
-3.83
-227.06%
3.01
Change In Payable
-0.29
-127.45%
1.04
+127.23%
-3.83
-227.06%
3.01
Change In Account Payable
-0.29
-127.45%
1.04
+127.23%
-3.83
-227.06%
3.01
Investing Cash Flow
-118.27
-5.38%
-112.24
-468.57%
-19.74
-1524.69%
-1.22
Cash Flow From Continuing Investing Activities
-118.27
-5.38%
-112.24
-468.57%
-19.74
-1524.69%
-1.22
Net PPE Purchase And Sale
-118.27
-5.38%
-112.24
-468.57%
-19.74
-1524.69%
-1.22
Purchase Of PPE
-119.11
-3.54%
-115.03
-480.58%
-19.81
-57.71%
-12.56
Sale Of PPE
0.83
-70.16%
2.79
+3728.77%
0.07
-99.36%
11.35
Capital Expenditure
-119.11
-3.54%
-115.03
-480.58%
-19.81
-57.71%
-12.56
Financing Cash Flow
-192.93
+44.01%
-344.57
+20.89%
-435.54
-1.68%
-428.34
Cash Flow From Continuing Financing Activities
-192.93
+44.01%
-344.57
+20.89%
-435.54
-1.68%
-428.34
Net Issuance Payments Of Debt
129.00
+416.00%
25.00
+350.00%
-10.00
+87.34%
-79.00
Issuance Of Debt
373.00
+284.54%
97.00
+51.56%
64.00
-81.12%
339.00
Repayment Of Debt
-244.00
-238.89%
-72.00
+2.70%
-74.00
+82.30%
-418.00
Long Term Debt Issuance
373.00
+284.54%
97.00
+51.56%
64.00
-81.12%
339.00
Long Term Debt Payments
-244.00
-238.89%
-72.00
+2.70%
-74.00
+82.30%
-418.00
Net Long Term Debt Issuance
129.00
+416.00%
25.00
+350.00%
-10.00
+87.34%
-79.00
Short Term Debt Issuance
—
—
—
—
Short Term Debt Payments
—
—
—
—
Net Short Term Debt Issuance
—
—
—
—
Net Common Stock Issuance
-3.78
+15.10%
-4.45
+19.05%
-5.50
-83.75%
-2.99
Common Stock Payments
-3.78
+15.10%
-4.45
+19.05%
-5.50
-83.75%
-2.99
Common Stock Dividend Paid
-285.65
+15.22%
-336.93
+15.52%
-398.82
-23.70%
-322.40
Cash Dividends Paid
-315.12
+13.68%
-365.06
+13.05%
-419.82
-22.25%
-343.40
Repurchase Of Capital Stock
-3.78
+15.10%
-4.45
+19.05%
-5.50
-83.75%
-2.99
Net Other Financing Charges
-3.04
-4645.31%
-0.06
+70.37%
-0.22
+92.66%
-2.94
Changes In Cash
-1.04
+98.46%
-67.76
-202.71%
65.97
+1543.97%
-4.57
Beginning Cash Position
2.52
-96.42%
70.28
+1531.81%
4.31
-51.48%
8.88
End Cash Position
1.48
-41.33%
2.52
-96.42%
70.28
+1531.81%
4.31
Free Cash Flow
191.06
-30.27%
274.01
-45.35%
501.44
+21.58%
412.42
Interest Paid Supplemental Data
7.38
+276.49%
1.96
+12.96%
1.74
-59.93%
4.33
Preferred Stock Dividend Paid
-29.47
-4.76%
-28.13
-33.93%
-21.00
+0.00%
-21.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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