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Black Stone Minerals, L.P. (BSM)

Energy | Oil & Gas E&P | Houston, United States | NYSE
14.31 USD +0.50 (3.621%) ⇧ (July 13, 2026, 4 p.m. EDT)
After hours: 14.40 +0.09 (0.628%) ⇧ (July 13, 2026, 7:50 p.m. EDT)

Short-term:★★☆☆☆Long-term:★★☆☆☆Dividends:★⯪☆☆☆
Hot Take | July 11, 2026, 5:19 a.m. EDT

The investment case for Black Stone Minerals is currently compromised by a severe disconnect between its reported profitability and its actual cash distribution. While the company boasts a 72% profit margin and a 28% return on equity, the payout ratio of 100.4% indicates that the dividend is being funded entirely by borrowing, creating a precarious debt-to-equity ratio of 17.4x. This unsustainable burn is confirmed by the options market, which is screaming for downside protection with heavy put buying and high implied volatility, while the statistical forecast models a slight negative drift over the next 45 days. Although the long-term price trajectory shows resilience with a net gain over the full window, the last two years of consecutive declines suggest the market is pricing in a structural deterioration in the business's ability to generate free cash flow relative to its obligations. Until the payout ratio drops below 100% and the debt load is reduced, the high yield is a trap rather than a reward.

Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoTheta ✓0.021727
AutoARIMA0.023444
AutoETS0.023445
MSTL0.026123

Forecast horizon: 45 days | Selected: AutoTheta

Forecast Reliability
Score 56%
H-stat 0.23
Ljung-Box p 0.000
Jarque-Bera p 0.471
Excess Kurtosis -0.57
Attribute Value
Sector Energy
Ex Dividend Date 2026-05-07
Last Dividend Date 2026-05-07
Debt to Equity Ratio 17.417
Revenue per Share 1.935
Market Cap 3,040,865,536
Trailing P/E 10.84
Forward P/E 12.23
Beta 0.02
Profit Margins 72.47%
Website https://www.blackstoneminerals.com

As of July 11, 2026, 5:19 a.m. EDT: Speculators are heavily positioned for downside protection, evidenced by massive open interest in out-of-the-money puts (over 1,000 contracts at the $12.50 strike) compared to negligible call volume. Implied volatility is significantly elevated for puts (0.75–0.93) versus calls (0.24–0.45), indicating a market consensus expecting a sharp drop rather than a rally. The skew suggests hedging or bearish bets dominate the sentiment.


Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
2.26% 9.01% 10.13% 10.29%
Dividend History
Date Dividend Yield %
2026-05-08 0.300 2.255639
2026-02-18 0.300 2.021563
2025-11-06 0.300 2.281369
2025-08-07 0.300 2.448980
2025-05-08 0.375 2.767528
2025-02-18 0.375 2.505010
2024-11-08 0.375 2.501668
2024-08-09 0.375 2.631579
2024-05-09 0.375 2.299203
2024-02-15 0.475 3.098500
2023-11-08 0.475 2.768065
2023-08-10 0.475 2.815649
2023-05-11 0.475 3.122945
2023-02-15 0.475 2.968750
2022-11-09 0.450 2.552468
2022-08-11 0.420 2.822581
2022-05-12 0.400 2.717391
2022-02-15 0.270 2.317597
2021-11-10 0.250 2.145923
2021-08-12 0.250 2.383222
2021-05-13 0.175 1.757028
2021-02-12 0.175 1.802266
2020-11-12 0.150 2.183406
2020-08-13 0.150 2.092050
2020-05-13 0.080 1.337793
2020-02-13 0.300 3.006012
2019-11-13 0.370 2.908805
2019-08-14 0.370 2.669553
2019-05-15 0.370 2.121560
2019-02-15 0.370 2.072829
2018-11-13 0.370 2.226233
2018-08-15 0.338 1.828015
2018-05-16 0.313 1.715068
2018-02-16 0.313 1.745678
2017-11-16 0.313 1.854265
2017-08-15 0.313 1.900425
2017-05-16 0.288 1.749696
2017-02-15 0.288 1.600889
2016-11-15 0.288 1.608040
2016-08-16 0.288 1.833227
2016-05-17 0.263 1.644778
2016-02-17 0.263 2.286957
2015-11-17 0.263 1.878571
2015-08-18 0.162 1.121107
Additional Data
dividendRate 1.2
dividendYield 8.69
exDividendDate 2026-05-08
trailingAnnualDividendRate 1.2
trailingAnnualDividendYield 0.08689356
lastDividendValue 0.3
lastDividendDate 2026-05-08
dividendDate 2026-05-15

Info Dump

Attribute Value
52 Week Change 0.05178976
Address1 1,001 Fannin Street
Address2 Suite 2020
All Time High 20.24
All Time Low 4.04
Ask 0.0
Ask Size 200
Average Daily Volume10 Day 276,140
Average Daily Volume3 Month 359,404
Average Volume 359,404
Average Volume10Days 276,140
Beta 0.017
Bid 0.0
Bid Size 900
Book Value 3.639
City Houston
Compensation As Of Epoch Date 1,767,139,200
Country United States
Crypto Tradeable 0
Currency USD
Current Price 14.31
Current Ratio 2.335
Custom Price Alert Confidence HIGH
Date Short Interest 1,782,777,600
Day High 14.36
Day Low 13.9334
Debt To Equity 17.417
Display Name Black Stone Minerals, L.P
Dividend Date 1,778,803,200
Dividend Rate 1.2
Dividend Yield 8.69
Earnings Call Timestamp End 1,777,989,600
Earnings Call Timestamp Start 1,777,989,600
Earnings Growth -0.305
Earnings Quarterly Growth -0.168
Earnings Timestamp 1,777,924,800
Earnings Timestamp End 1,785,787,200
Earnings Timestamp Start 1,785,787,200
Ebitda 346,843,008
Ebitda Margins 0.84560996
Enterprise To Ebitda 10.139
Enterprise To Revenue 8.574
Enterprise Value 3,516,731,392
Eps Current Year 0.99
Eps Forward 1.17
Eps Trailing Twelve Months 1.32
Esg Populated 0
Ex Dividend Date 1,778,198,400
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fax 713 658 0943
Fifty Day Average 13.8256
Fifty Day Average Change 0.48440075
Fifty Day Average Change Percent 0.035036508
Fifty Two Week Change Percent 5.178976
Fifty Two Week High 15.49
Fifty Two Week High Change -1.1799994
Fifty Two Week High Change Percent -0.07617814
Fifty Two Week Low 11.78
Fifty Two Week Low Change 2.5300007
Fifty Two Week Low Change Percent 0.21477087
Fifty Two Week Range 11.78 - 15.49
Financial Currency USD
First Trade Date Milliseconds 1,430,400,600,000
Five Year Avg Dividend Yield 9.63
Float Shares 161,935,115
Forward Eps 1.17
Forward P E 12.23077
Free Cashflow 95,446,000
Full Exchange Name NYSE
Gmt Off Set Milliseconds -14,400,000
Gross Margins 0.88319
Gross Profits 362,260,000
Has Pre Post Market Data 1
Held Percent Insiders 0.21384001
Held Percent Institutions 0.18721001
Implied Shares Outstanding 212,499,331
Industry Oil & Gas E&P
Industry Disp Oil & Gas E&P
Industry Key oil-gas-e-p
Is Earnings Date Estimate 1
Language en-US
Last Dividend Date 1,778,198,400
Last Dividend Value 0.3
Last Fiscal Year End 1,767,139,200
Long Business Summary 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.
Long Name Black Stone Minerals, L.P.
Market us_market
Market Cap 3,040,865,536
Market State PREPRE
Max Age 86,400
Message Board Id finmb_3569186
Most Recent Quarter 1,774,915,200
Net Income To Common 267,790,000
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 2,934,615,761
Number Of Analyst Opinions 1
Open 13.94
Operating Cashflow 307,892,000
Operating Margins 0.14155
Payout Ratio 1.0039
Peg Ratio 1.71
Phone 713 445 3200
Post Market Change 0.08990002
Post Market Change Percent 0.6282321
Post Market Price 14.3999
Post Market Time 1,783,986,607
Previous Close 13.81
Price Eps Current Year 14.454546
Price Hint 2
Price To Book 3.9323993
Price To Sales Trailing12 Months 7.413653
Profit Margins 0.72471
Quick Ratio 2.122
Quote Source Name Delayed Quote
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change 0.5
Regular Market Change Percent 3.62056
Regular Market Day High 14.36
Regular Market Day Low 13.9334
Regular Market Day Range 13.9334 - 14.36
Regular Market Open 13.94
Regular Market Previous Close 13.81
Regular Market Price 14.31
Regular Market Time 1,783,972,803
Regular Market Volume 375,164
Return On Assets 0.14932
Return On Equity 0.27798998
Revenue Growth 0.085
Revenue Per Share 1.935
Sand P52 Week Change 0.20847368
Sector Energy
Sector Disp Energy
Sector Key energy
Shares Outstanding 212,499,331
Shares Percent Shares Out 0.0202
Shares Short 4,300,817
Shares Short Previous Month Date 1,780,012,800
Shares Short Prior Month 4,048,700
Short Name Black Stone Minerals, L.P.
Short Percent Of Float 0.024500001
Short Ratio 12.48
Source Interval 15
State TX
Symbol BSM
Target High Price 16.0
Target Low Price 16.0
Target Mean Price 16.0
Target Median Price 16.0
Total Cash 11,612,000
Total Cash Per Share 0.055
Total Debt 187,000,000
Total Revenue 410,171,008
Tradeable 0
Trailing Annual Dividend Rate 1.2
Trailing Annual Dividend Yield 0.08689356
Trailing Eps 1.32
Trailing P E 10.840909
Trailing Peg Ratio 1.7092
Triggerable 1
Two Hundred Day Average 14.0396
Two Hundred Day Average Change 0.27040005
Two Hundred Day Average Change Percent 0.01925981
Type Disp Equity
Volume 375,164
Website https://www.blackstoneminerals.com
Zip 77,002