Stocks · Energy · Oil & Gas Exploration & Production

Black Stone Minerals, L.P. BSM

$14.56 +0.55% Close, Oct 2, 2026 · NYSE · Market cap $3.09B

High qualityLow risk

Next earnings report: Nov 2, 2026

Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.

Three things to know

  1. The diluted share count fell 6.3% in a year, mainly through buybacks.
  2. Revenue over the last four quarters was $483.7M, up 12.6% from a year earlier, accelerating from 6.9% a quarter earlier.
  3. Diluted EPS over the last four quarters was $1.21, up 4.1% year over year.

PromtFinance scores

Each score is a percentile within the Energy sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.

Growth37Weak

How fast revenue, earnings and cash flow are growing.

  • Revenue growth (TTM, YoY)Top 47%
  • EPS growth (TTM, YoY)Top 50%
  • FCF growth (TTM, YoY)Top 45%
  • Revenue growth, 3-year CAGRBottom 7%
  • Revenue growth accelerationTop 44%
Quality88Strong

Returns on capital, margins, earnings quality and balance-sheet strength.

  • Return on invested capitalTop 5%
  • Gross marginTop 8%
  • Operating marginTop 4%
  • Cash conversion (OCF / net income)Bottom 21%
  • Accruals (lower is better)Bottom 21%
  • Net debt / EBITDA (lower is better)Top 28%
  • Interest coverTop 7%
Value52Neutral

How cheap the shares are relative to earnings, cash flow and their own history.

  • Earnings yieldTop 26%
  • Free-cash-flow yieldTop 37%
  • EBITDA / enterprise valueBottom 46%
  • Sales / enterprise valueBottom 14%
  • P/E vs own 5-year history (lower is better)Top 46%
Momentum61Neutral

Strength and persistence of the price trend, including versus the S&P 500.

  • 12-month return excluding last monthBottom 34%
  • 6-month returnTop 35%
  • 1-year return vs S&P 500Bottom 45%
  • Distance from 52-week highTop 6%
  • Trend checklist (0–4)Top 32%
Revisions46Neutral

Earnings surprises and analyst sentiment (estimate-revision history is being collected).

  • Average EPS surprise, last 4 quartersTop 34%
  • Consecutive EPS beatsTop 50%
  • Share of analysts rating BuyTop 41%
  • Upside to consensus price targetBottom 22%
Stability97Exceptional

Low volatility, shallow drawdowns, low market sensitivity and modest leverage.

  • Volatility, 60 days (lower is better)Top 4%
  • Maximum drawdown, 3 yearsTop 28%
  • Beta vs S&P 500 (lower is better)Top 4%
  • Net debt / EBITDA (lower is better)Top 28%

What changed

Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).

MeasureBeforeNow
Revenue growth (YoY)6.9%12.6%↑
EPS growth (YoY)37.7%4.1%↓
Gross margin78.4%78.4%↓
Operating margin65.2%66.1%↑
FCF margin52.0%53.5%↑

Fundamental momentum

MeasureNow (TTM)Year / quarter beforeSector rank
Revenue growth (TTM, YoY)12.6%6.9%↑Top 47%
EPS growth (TTM, YoY)4.1%37.7%↓Top 50%
Gross margin78.4%78.4%↓Top 8%
Operating margin66.1%65.2%↑Top 4%
Net margin58.6%64.0%↓—
Free-cash-flow margin53.5%52.0%↑—
Return on invested capital23.8%—Top 5%
Revenue growth, 3-year CAGR-18.6%—Bottom 7%

Quality of earnings and balance sheet

Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
1.13×
Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
-2.7%
Stock-based compensation / revenueA cost to shareholders through dilution.
2.2%
Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
-23.8 pp
Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
0.58×
Interest cover (operating income / interest)How many times operating profit covers interest.
25.7×

Shareholder returns

Dividend yield (dividends paid, TTM)
8.23%
Net buyback yield (TTM)
0.09%
Shareholder yield
8.32%
Share count change, 1 year
-6.3%
Share count change, 3-year CAGR
+0.4%

Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.

Based on the four quarters through Jun 30, 2026 (filed Aug 4, 2026).

Earnings and expectations

Earnings momentum

Consecutive EPS beats
1
Beats in the last 8 reports
5 of 8
Average EPS surprise, last 4
+18.9%
Average 2-day reaction, last 8
-0.3%
Positive 20 days after report
4 of 8

Analysts

Consensus price target
$16.00
Target vs current price
+9.9%
Analysts with a rating
16
Share rating Buy or Strong Buy
63%
Consensus rating
Buy

How the stock reacted to recent reports

Report dateEPS surprise2 days5 days20 days60 days
Aug 3, 2026+104.3%+0.7%-5.7%-1.3%—
May 4, 2026-86.4%+0.0%-6.6%-4.1%+3.7%
Feb 23, 2026+14.8%-1.4%+0.2%+1.5%-6.7%
Nov 3, 2025+42.9%-0.7%+0.9%+8.1%+13.6%
Aug 4, 2025+76.7%+0.3%-2.9%-3.2%+4.5%
May 5, 2025-87.3%-2.0%-5.7%-6.9%-13.9%
Feb 24, 2025-53.8%+0.0%+0.1%+2.2%-9.0%
Nov 4, 2024+13.9%+0.5%+0.8%+4.7%-2.6%

Returns from the close before each report. Past reactions do not determine future ones.

Earnings history

Report dateEPSEstimateSurpriseRevenue
Aug 3, 2026$0.47$0.23+104.3%$149.0M
May 4, 2026$0.03$0.22-86.4%$123.9M
Feb 23, 2026$0.31$0.27+14.8%$118.7M
Nov 3, 2025$0.40$0.28+42.9%$77.9M
Aug 4, 2025$0.53$0.30+76.7%$106.7M
May 5, 2025$0.04$0.32-87.3%$59.3M
Feb 24, 2025$0.18$0.39-53.8%$104.3M
Nov 4, 2024$0.41$0.36+13.9%$103.2M

Valuation in context

MultipleNow5-year median5-year percentileSector rank (cheapness)
P/E (trailing)12.1×11.0×62thTop 26%
P/E (forward)14.5×———
EV / EBITDA9.8×——Bottom 46%
EV / Sales6.80×——Bottom 14%
Free-cash-flow yield8.36%——Top 37%
Earnings yield8.30%——Top 26%

P/E over the past five years

Range 5.6× – 45.9× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.

What moved the stock over the past year

Price return, 1 year
+9.8%
Earnings per share growth (TTM)
+4.1%
Change in P/E multiple
+11.5%

Most of the move came from a change in the valuation multiple.

Technical state

Trend checklist

  • ✗ Price above 20-day average
  • ✗ Price above 50-day average
  • ✓ Price above 200-day average
  • ✓ 50-day average above 200-day
  • ✗ MACD histogram positive

Trend quality

Days above the 50-day average
0
Days above the 200-day average
2
50-day average slope (20 days)
+1.7%
200-day average slope (20 days)
+0.4%
Distance from 50-day average
-0.9%
Distance from 200-day average
+1.2%
RSI (14)
47.4
Relative volume
0.46×

Risk and drawdowns

Volatility, 60 days (annualized)
18.3%
Volatility vs own 5-year history
9th percentile · Low for this stock
Beta vs S&P 500 (2 years, weekly)
-0.01
Correlation with S&P 500
-0.01
Current drawdown from 1-year high
-5.7%
Maximum drawdown, 3 years
-35.1%

Largest declines in the past six years

From peakTo lowDeclineLengthRecovery
Nov 8, 2022Aug 19, 2025-39.7%695 daysNot yet recovered
Jun 8, 2022Jul 6, 2022-23.2%18 days65 days (Oct 6, 2022)
Nov 1, 2021Dec 17, 2021-21.1%33 days56 days (Mar 10, 2022)
Feb 10, 2021Mar 23, 2021-15.0%28 days16 days (Apr 15, 2021)
Nov 24, 2020Dec 31, 2020-11.8%25 days4 days (Jan 7, 2021)

Declines of 10% or more from a closing high, measured on daily closes.

Financial statements

Market cap
$3.09B
P/E (TTM)
12.1
EPS, diluted (TTM)
$1.21
Revenue (TTM)
$483.7M
Dividend yield
8.38%
52-week range
$12.32 – $15.49
FY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$505.7M$784.3M$501.1M$439.4M$422.3M
Gross profit$381.9M$657.9M$387.1M$335.0M$316.3M
Operating income$187.3M$482.5M$423.6M$273.1M$260.8M
Net income$182.0M$476.5M$422.5M$271.3M$299.9M
EPS (diluted)$0.77$2.12$1.88$1.15$1.28
Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Revenue$103.2M$104.3M$115.3M$106.7M$77.9M$95.2M$188.5M$122.1M
Net income$92.7M$46.3M$15.9M$120.0M$91.7M$72.2M$13.3M$106.4M
EPS (diluted)$0.41$0.18$0.04$0.53$0.40$0.31$0.03$0.47
FY 2021FY 2022FY 2023FY 2024FY 2025
Operating cash flow$256.9M$425.0M$521.3M$389.0M$310.2M
Capital expenditure-$14.6M-$12.6M-$19.8M-$4.2M-$11.8M
Free cash flow$242.2M$412.4M$501.4M$384.8M$298.4M
Dividends paid-$176.9M-$322.4M-$398.8M-$336.9M-$285.7M
Net share buybacks-$2.0M-$3.0M-$5.5M-$4.4M-$3.8M

Cash outflows are shown as negative numbers.

Cash and short-term investments
$1.7M
Total assets
$1.37B
Total liabilities
$252.4M
Total debt
$196.0M
Net debt
$194.3M
Shareholders’ equity
$1.11B

As of Jun 30, 2026 (filed Aug 4, 2026).

Dividends

Ex-dateAmountPaid
Aug 6, 2026$0.32Aug 13, 2026
May 8, 2026$0.30May 15, 2026
Feb 18, 2026$0.30Feb 25, 2026
Nov 6, 2025$0.30Nov 13, 2025
Aug 7, 2025$0.30Aug 14, 2025
May 8, 2025$0.38May 15, 2025
Feb 18, 2025$0.38Feb 25, 2025
Nov 8, 2024$0.38Nov 15, 2024

Short interest

Shares sold short
2,585,913
Days to cover
6.92
Change vs previous report
-7.8%

FINRA short interest, settlement date Sep 15, 2026.