Black Stone Minerals, L.P. (BSM) AI Stock Analysis

Headquartered in Houston, Texas, Black Stone Minerals, L.P. owns and manages mineral interests in the United States oil and natural gas sector. Established in 1876, the partnership holds mineral rights across approximately 16.8 million gross acres, including nonparticipating royalty interests in 1.8 million gross acres and overriding royalty interests in 1.7 million gross acres spread across 41 states. As of December 31, 2021, the partnership reported estimated proved reserves of 59,824 barrels of oil equivalent (BOE). Its business centers on maximizing portfolio value through asset management while exploring opportunities for growth.

Revenue over the 5-year period from FY2020 to FY2025 grew at a CAGR of 7.3%. Annual revenue rose from $505.7M in FY2021 to $784.3M in FY2022, before retreating to $501.1M in FY2023, $439.4M in FY2024, and $422.3M in FY2025. In FY2025, operating margin was 61.8% and net income totaled $299.9M, producing EPS of $1.18. Over the trailing twelve months, revenue reached $423.6M with an operating margin of 95.4% and an EPS of $1.20. In the latest quarter ended June 30, 2026, quarterly revenue grew 13.2% year-over-year, while quarterly earnings declined 12.0%.

As of June 30, 2026, Black Stone Minerals held $1.7M in cash and short-term investments against $196.0M in total debt, resulting in net debt of $194.3M. Total assets stood at $1.37B and shareholders' equity was $1.11B, supported by a debt-to-equity ratio of 0.18 and a current ratio of 3.76. In FY2025, the company generated $310.2M in operating cash flow and $298.4M in free cash flow. Cash outlays that year included $11.8M in capital expenditures, $3.8M in share buybacks, and $315.1M in dividends paid.

At a share price of $15.03 on October 16, 2026, Black Stone Minerals carried a market cap of $3.20B and an enterprise value of $3.29B. Its trailing P/E of 12.5x and forward P/E of 12.3x compare to sector medians of 15.0x and 12.7x, respectively, for US-listed Energy peers. Its EV to EBITDA stood at 9.9x versus the peer median of 8.0x, while its price-to-sales was 7.5x compared to 1.8x for peers. Over the trailing 1-year period, BSM gained 31.5% compared to 16.8% for the S&P 500 (SPY), and its 5-year return of 102.9% topped the index's 83.0%.

Black Stone Minerals pays a quarterly dividend with an annualized forward rate of $1.22 per share, representing an 8.12% yield based on its last close. The payout ratio stands at 89.7%, and dividends have been paid for 12 consecutive years. Over the trailing 5-year period, the dividend expanded at an annualized rate of 14.7%. Its most recent ex-dividend date was August 6, 2026.

Consensus coverage shows 3 Hold ratings, with 0 Strong Buy, 0 Buy, 0 Sell, and 0 Strong Sell ratings. The mean price target of $16.00 indicates upside of 6.5% over the $15.03 close on October 16, 2026. For the current fiscal year ending December 31, 2026, analysts estimate EPS of $1.11 and revenue of $433.3M. For the next fiscal year, 2 analysts project EPS of $1.14 on revenue of $478.9M. Black Stone Minerals beat EPS estimates in each of the last 4 quarters, with its next earnings date scheduled for November 2, 2026.

This page is an AI-written research summary of Black Stone Minerals, L.P. (BSM). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: BSM income statement, BSM balance sheet, BSM key metrics, BSM analyst forecast, BSM chart. See the BSM stock overview for the latest quote and news.