Black Stone Minerals Dividends and Buybacks
Dividend criteria checks 3/6
Black Stone Minerals is a dividend paying company with a current yield of 8.69%.
Key information
8.7%
Dividend yield
0.1%
Buyback Yield
| Total Shareholder Yield | 8.8% |
| Future Dividend Yield | 10.1% |
| Dividend Growth | 4.9% |
| Next dividend pay date | n/a |
| Ex dividend date | n/a |
| Dividend per share | n/a |
| Payout ratio | 95% |
Recent dividend and buyback updates
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
Narrative Update • 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.Analysis Article • 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...Narrative Update • 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.Narrative Update • 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.Narrative Update • 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.Narrative Update • 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.Narrative Update • 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 AlphaSeeking 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 AlphaSeeking 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 AlphaSeeking 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 AlphaSeeking 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
New Narrative • 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 AlphaSeeking 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 AlphaSeeking 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 AlphaSeeking 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 AlphaStability and Growth of Payments
Fetching dividends data
Stable Dividend: BSM's dividend payments have been volatile in the past 10 years.
Growing Dividend: BSM's dividend payments have increased over the past 10 years.
Dividend Yield vs Market
| Black Stone Minerals Dividend Yield vs Market |
|---|
| Segment | Dividend Yield |
|---|---|
| Company (BSM) | 8.7% |
| Market Bottom 25% (US) | 1.4% |
| Market Top 25% (US) | 4.2% |
| Industry Average (Oil and Gas) | 3.4% |
| Analyst forecast (BSM) (up to 3 years) | 10.1% |
Notable Dividend: BSM's dividend (8.69%) is higher than the bottom 25% of dividend payers in the US market (1.35%).
High Dividend: BSM's dividend (8.69%) is in the top 25% of dividend payers in the US market (4.19%)
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (95%), BSM's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its high cash payout ratio (134.1%), BSM's dividend payments are not well covered by cash flows.
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/10 21:40 |
| End of Day Share Price | 2026/07/10 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Black Stone Minerals, L.P. is covered by 7 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Timothy Rezvan | KeyBanc Capital Markets Inc. |
| Mark Lear | Piper Sandler Companies |
| John Freeman | Raymond James & Associates |