Black Stone Minerals, L.P.

NYSE:BSM 株式レポート

時価総額：US$2.9b

Black Stone Minerals 過去の業績

過去 基準チェック /66

Black Stone Mineralsは、平均年間9.3%の収益成長を遂げていますが、 Oil and Gas業界の収益は、年間 成長しています。収益は、平均年間8% 3.4%収益成長率で 減少しています。 Black Stone Mineralsの自己資本利益率は27.7%であり、純利益率は65.3%です。

主要情報

9.32%

収益成長率

9.08%

EPS成長率

Oil and Gas 業界の成長33.67%
収益成長率-3.39%
株主資本利益率27.69%
ネット・マージン65.29%
前回の決算情報31 Mar 2026

最近の業績更新

Recent updates

Seeking Alpha • Jun 29

Black Stone Minerals: Drilling Momentum Is Building, But So Are Permian Volumes

Summary Black Stone Minerals is developing three separate drilling agreements on its acreage in the Haynesville. Drilling commitments contractually grow over time, allowing future royalty growth. This builds a flywheel effect for future production. This flywheel is accelerating at the same time as growing LNG export volumes, providing meaningful demand growth to natural gas markets. The company continues to buy mineral packages to market large mineral blocks to operators. The flywheel will continue to strengthen if additional operators are signed into drilling agreements with BSM. However, competition for volumes is growing as new pipelines are constructed to deliver Permian gas to the US Gulf Coast. Read the full article on Seeking Alpha
ナラティブの更新 • Jun 23

BSM: Gas Weighted Exposure Will Shape Upside Despite Steady Production Trends

Analysts now frame Black Stone Minerals' narrative around a reaffirmed $16 price target, citing the company's 76% gas weighted portfolio and the view that gas fundamentals may limit upside to growth relative to peers. What’s in the News for Black Stone Minerals Black Stone Minerals reported unaudited production results for the quarter ended March 31, 2026, covering oil, condensate, and natural gas volumes.
分析記事 • Jun 19

Black Stone Minerals (BSM) Stock Could Be 12.4% Undervalued on Its Gas Growth Narrative

Black Stone Minerals (BSM) is back on investors’ radar after recent trading left the unit price around $14.01, with returns mixed over the past month, the past 3 months, and the past year. See our latest analysis for Black Stone Minerals. Over the past year, Black Stone Minerals has combined a modest year to date share price gain of 3.7% with a stronger 1 year total shareholder return of 16.12%, while its 5 year total shareholder return of 122.82% points to momentum that has built over a...
ナラティブの更新 • Jun 06

BSM: Gas Weighted Portfolio And Rising Production Support Constructive Forward Outlook

Analysts have revised their price target on Black Stone Minerals to $16 from $14, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. This change also reflects recent Street research highlighting the company’s gas weighted portfolio and expectations that gas fundamentals may limit upside to growth.
ナラティブの更新 • Apr 08

BSM: War Risk And Stable U.S. Activity Shape Fairly Valued Outlook

Analysts recently raised their price target on Black Stone Minerals to $14 from $13, citing elevated geopolitical risk to global energy supply and an outlook that U.S. operators are unlikely to significantly alter their activity in response. Analyst Commentary Recent commentary around Black Stone Minerals focuses heavily on how heightened geopolitical risk and potential supply disruptions feed into valuation, especially with the price target set at US$14.
ナラティブの更新 • Mar 25

BSM: War Risk And Steady U.S. Output Guide Balanced Future Outlook

Analysts have raised their price target on Black Stone Minerals to $14.00 from $13.00, citing recent geopolitical risks to global energy supplies and steady expectations for U.S. operator activity as key factors behind the update. Analyst Commentary Analysts are weighing the new US$14 price target for Black Stone Minerals against rising geopolitical risks and expectations for relatively steady U.S. operator activity.
ナラティブの更新 • Mar 08

BSM: War Risk And Stable U.S. Activity Shape Measured Future Outlook

Analysts have raised their price target on Black Stone Minerals to $14 from $13, reflecting updated views on fair value and earnings potential as they consider recent geopolitical risks and U.S. operator commentary. Analyst Commentary Recent commentary around Black Stone Minerals focuses on how geopolitical risks and operator behavior could affect fair value, rather than on big changes to the company’s own execution.
ナラティブの更新 • Aug 16

Shelby Trough Expansion And Operator Diversification Will Drive Drilling

The consensus price target for Black Stone Minerals has been lowered to $13.00, primarily due to a notable decrease in forecast revenue growth, while valuation multiples have only moderately declined. What's in the News Black Stone Minerals lowered its 2025 production guidance to 33–35 MBoe/d from 38–41 MBoe/d due to weaker first-half production and delayed natural gas growth.
Seeking Alpha • Apr 26

Black Stone Minerals: Focusing On Natural Gas Acquisitions

Summary Black Stone Minerals spent $110 million on acquisitions in 2024, funded primarily with cash on hand. It now has a slight amount of net debt and may add to that debt with continued acquisitions and the redemption of some Series A Preferred Units. I project its distribution coverage at 1.07x in 2025 at current strip. Black Stone's estimated value is now $17.75 per unit at long-term $70 WTI oil and $3.75 NYMEX natural gas. Read the full article on Seeking Alpha
Seeking Alpha • Feb 27

Black Stone Minerals: A 10% Distribution For This Natural Gas Royalty Play (Rating Upgrade)

Summary Upgrading Black Stone Minerals to a BUY due to improving natural gas prices, a robust hedging program, and a renegotiated production agreement with Aethon. BSM's 2024 challenges included weak natural gas prices and a dividend cut, but the company maintained a distribution coverage greater than 1x distributable cash flow throughout the year. For 2025, BSM expects a 2% production increase, with natural gas making up 77% of total volumes, driven by new wells and rising prices. LNG export growth and increased electricity demand from AI data centers position BSM's Haynesville acreage as a key resource, enhancing future prospects. I am upgrading BSM to a BUY. Read the full article on Seeking Alpha
Seeking Alpha • Feb 19

Black Stone Minerals' Double-Digit Yield Looks To Benefit From Expanding Electricity Demand

Summary Since its IPO in 2015, Black Stone Minerals performance has matched Exxon and Chevron on an annualized total return basis. Management's interest are closely aligned with unitholders and insider buying volume has been significant in 2025. Improving supply/demand balance for natural gas means more production volume, likely returning the distribution to high water level. More favorable federal energy policy towards fossil fuel minerals and growing electricity need bode well for BSM to benefit. Read the full article on Seeking Alpha
Seeking Alpha • Dec 12

Black Stone Minerals: Distribution Coverage Should Improve From Q3 2024 Levels

Summary Black Stone Minerals reported 1x distribution coverage for Q3 2024. It saw an 8% quarter-over-quarter production decline. BSM's Q4 2024 distribution coverage should increase slightly even if its production declines a bit further in the near term. I've reduced my 2025 production expectations by 3–4% to reflect a lower potential production level entering the year. Stronger natural gas prices in 2025 (particularly later in the year) should increase activity at Black Stone's assets. Read the full article on Seeking Alpha
Seeking Alpha • Oct 08

Black Stone Minerals: Preferred Unit Redemption May Increase Distributable Cash Flow

Summary Black Stone Minerals has been acquiring Gulf Coast mineral and royalty interests. These acquisitions are primarily non-producing currently, but are expected to benefit future production results once natural gas prices improve. Black Stone also has the opportunity to redeem its Series B preferred units at par in late 2025. These units have a 9.8% distribution rate, so redeeming them should benefit Black Stone's distributable cash flow. Black Stone's credit facility interest rate may be 6% to 7% by late 2025. Read the full article on Seeking Alpha
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新しいナラティブ • Sep 05

Hedging Missteps And Acquisition Risks To Hamper Earnings Amidst Volatile Times

Emphasis on grassroots acquisitions and asset enhancement may increase debt without immediate returns, affecting net income and cash flow if expectations are not met.
Seeking Alpha • Aug 11

Black Stone Minerals: Well Covered 10.5% Yield And Debt Free Balance Sheet Make This A Buy

Summary BSM is a high free cash flow royalty-driven MLP with no debt, offering a 10.5% yield and potential upside with improved natural gas prices. The company's business model involves collecting royalty payments on revenue from producers operating on their acreage. BSM offers solid coverage of their distribution and potential for buybacks or acquisitions, making it a bargain investment opportunity. We peg a range of $12 to high teens on the stock, but are happy with a flat share price and a healthy tax-deferred distribution. Read the full article on Seeking Alpha
Seeking Alpha • Jul 30

Black Stone Minerals: Overexposed To Natural Gas

Summary Production was down 2% in Q1 2024, after reducing their working interest exposure. Q1 2024 revenue at $113.2 million, net income at $63.9 million; down 17% and 57% QoQ. Distribution reduced by 21% to $0.375 per unit in Q1 2024. Aethon reduced production volumes by 800 Boe/d in April 2024. This will certainly impact their Q2 2024 production. Due to their natural gas exposure, overvaluation, and strategic uncertainties, my rating for this stock is a Hold. Read the full article on Seeking Alpha
Seeking Alpha • May 10

Black Stone Minerals: Reduced Production Guidance Due To Low Natural Gas Prices

Summary Black Stone Minerals reduced its 2024 production guidance by around 4%. The Company's oil cut may end up slightly higher than previously expected. BSM is projected to have 1.17x distribution coverage with its reduced distribution. It is spending on acquisitions that will benefit its longer-term cash flow. I expect Black Stone's distributable cash flow to rebound to $2+ per unit in 2026. Read the full article on Seeking Alpha
Seeking Alpha • Mar 12

Black Stone Minerals: A Distribution Cut Is Coming

Summary Black Stone Minerals has seen a large decrease in rigs on its acreage. With Aethon taking a drilling pause, 2025 production is likely to decline. With favorable hedges rolling off, a distribution cut will be coming this year barring a natural gas price rally. Read the full article on Seeking Alpha

収支内訳

Black Stone Minerals の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。

収益と収入の歴史

NYSE:BSM 収益、費用、利益 ( )USD Millions
日付収益収益G+A経費研究開発費
31 Mar 26410268750
31 Dec 25401270740
30 Sep 25413245620
30 Jun 25414246630
31 Mar 25422194610
31 Dec 24427242550
30 Sep 24457345560
30 Jun 24491316570
31 Mar 24483328550
31 Dec 23489401540
30 Sep 23552437550
30 Jun 23636544520
31 Mar 23738597530
31 Dec 22771455540
30 Sep 22734406510
30 Jun 22651254500
31 Mar 22556138500
31 Dec 21491161500
30 Sep 2141257490
30 Jun 2134165460
31 Mar 2128641450
31 Dec 20288101430
30 Sep 20314110410
30 Jun 20360157460
31 Mar 20432260490
31 Dec 19463193640
30 Sep 19512317670
30 Jun 19548308750
31 Mar 19552242870
31 Dec 18559275840
30 Sep 18502132900
30 Jun 1844398880
31 Mar 18399128760
31 Dec 17361152750
30 Sep 17337127740
30 Jun 17332142700
31 Mar 1730166740
31 Dec 1626514740
30 Sep 16250-28770
30 Jun 16245-14810
31 Mar 16264-99820
31 Dec 15280-108800
30 Sep 15332-436730

質の高い収益: BSMは 高品質の収益 を持っています。

利益率の向上: BSMの現在の純利益率 (65.3%)は、昨年(45.9%)よりも高くなっています。

フリー・キャッシュフローと収益の比較

過去の収益成長分析

収益動向: BSMの収益は過去 5 年間で年間9.3%増加しました。

成長の加速: BSMの過去 1 年間の収益成長率 ( 38.1% ) は、5 年間の平均 ( 年間9.3%を上回っています。

収益対業界: BSMの過去 1 年間の収益成長率 ( 38.1% ) はOil and Gas業界6%を上回りました。

株主資本利益率

高いROE: BSMの 自己資本利益率 ( 27.7% ) は 高い とみなされます。

総資産利益率

使用総資本利益率

過去の好業績企業の発掘

7D

1Y

7D

1Y

7D

1Y

企業分析と財務データの現状

データ最終更新日（UTC時間）
企業分析2026/07/10 03:30
終値2026/07/10 00:00
収益2026/03/31
年間収益2025/12/31

データソース

企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。

パッケージデータタイムフレーム米国ソース例
会社財務10年
  • 損益計算書
  • キャッシュ・フロー計算書
  • 貸借対照表
アナリストのコンセンサス予想+プラス3年
  • 予想財務
  • アナリストの目標株価
市場価格30年
  • 株価
  • 配当、分割、措置
所有権10年
  • トップ株主
  • インサイダー取引
マネジメント10年
  • リーダーシップ・チーム
  • 取締役会
主な進展10年
  • 会社からのお知らせ

* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。

特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。

分析モデルとスノーフレーク

このレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。

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業界およびセクターの指標

私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。

アナリスト筋

Black Stone Minerals, L.P. 2 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。7

アナリスト機関
Timothy RezvanKeyBanc Capital Markets Inc.
Mark LearPiper Sandler Companies
John FreemanRaymond James & Associates