NYSE: BSM
Black Stone Minerals, L.P.
Energy · Oil & Gas Exploration & Production
After hours: $14.08(+0.5%) · as of 6:00 PM ET
Market Cap
$2.98B
52w High
$15.49
52w Low
$11.78
P/E
10.01
Volume
318.65K
Outstanding Shares
212.50M
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 6.22% over the last year. Revenue grew 6.93% over the trailing twelve months. Operating margin moved from 51.68% to 76.64%. Free cash flow declined 18.11% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 76.64%. A decisive move in revenue — currently up 6.93% — would be the clearest signal to resolve the ambiguity.
Company profile
Black Stone Minerals, L.P. and its subsidiaries are primarily engaged in the ownership and active management of oil and natural gas mineral interests.
Valuation
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Analyst consensus
10
Buy
6
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 3, 2026
Q3 FY26 · EPS est $0.22 · Revenue est $109.1M
View
Dividends
$1.20/shareQuarterlyStretchedBSM pays a dividend with a 8.57% dividend yield, growing at 13.05% annually, covered 0.9× by free cash flow.
Dividend Yield
8.57%
Annual Div / Share
$1.20
5yr CAGR
+13.05%
Doubles every ~5.7yr
Payout Ratio
100.8%
Stretched
Dividend Growth Rate
3yr CAGR
-12.96%
5yr CAGR
+13.05%
10yr CAGR
+2.37%
Dividend History
Annualized dividend cycles per share
Income Projection
Today
$7/mo
In 5 yrs
$13/mo
In 10 yrs
$22/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$86/yr $7/mo | $151/yr+76% $13/mo | $266/yr+211% $22/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 8.57% → 26.6% over 10yr
Analysis
Dividend Strengths
Strong dividend growth rate
The 5-year CAGR of 13.05% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
High payout ratio
With 100.8% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.
Dividend exceeds free cash flow
Free cash flow covers only 0.95× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.