Black Stone Minerals

BSM

Market cap $2.89B

Putman sold 29,386 shares on April 6, 2026, with a transaction value of approximately $425,000 based on a weighted average price of around $14.45 per share. Putman retains 732,031 common units representing direct limited partner interests.

Black Stone Minerals offers a compelling 8% yield near $15/unit, leveraging a royalty model with minimal operational risk and strong insider alignment. BSM is poised for significant production growth, with projections targeting 50 MBoe/d by 2030 and 60 MBoe/d by 2035, nearly doubling current levels. Management aims to raise distributions to $2/unit as production ramps, potentially boosting yield to 13% and supporting a $25 price target in 3–5 years.

Black Stone Minerals' SVP sold 30,276 common units for a transaction value of ~$462,000 on March 5, 2026. The transaction represented 100.00% of Putman's direct common unit holdings, reducing direct ownership to zero.

Black Stone's Q4 2025 production was around 32,100 BOEPD, with 2025 averaging approximately 34,600 BOEPD. At guidance midpoint, Black Stone expects 34,500 BOEPD in 2026 production, with production ramping up during the year. At the current strip, I project Black Stone to have 1.06x distribution coverage with a $0.30 per unit quarterly distribution.

Black Stone Minerals, L.P. Common Units (BSM) Q4 2025 Earnings Call Transcript

While the top- and bottom-line numbers for Black Stone Minerals (BSM) give a sense of how the business performed in the quarter ended December 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone Minerals,” “Black Stone,” or “the Partnership”) today announces its financial and operating results for the fourth quarter and full year of 2025 and provides guidance for 2026. Fourth Quarter 2025 Highlights Mineral and royalty production for the fourth quarter of 2025 equaled 30.9 MBoe/d; total production, including working interest volumes, was 32.1 MBoe/d for the quarter Net income for the quarter was $72.2 millio.

Besides Wall Street's top-and-bottom-line estimates for Black Stone Minerals (BSM), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2025.

HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) (“Black Stone,” “BSM,” or “the Partnership”) today declared the distribution attributable to the fourth quarter of 2025. Additionally, the Partnership announced the date of its fourth quarter and full-year 2025 earnings call. Common Distribution The Board of Directors of the general partner has approved a cash distribution of $0.30 per common unit attributable to the fourth quarter of 2025, consistent with the prior quarter. Distr.

Black Stone's Q3 2025 production increased by 5% quarter-over-quarter. This puts it on track to reach the high-end or above the high-end of its revised (in Q2 2025) guidance for the full year. Black Stone also signed a Kurth Lake Expansion development agreement that will help it towards its goal of 50,000 BOEPD in 2030 production.