BSM
Black Stone Minerals, L.P.
NYSEUSDEQUITY
Energy
DELAYED
Neutral
+13/100
Last price
14.68
▲ 0.01 (0.07%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
14.67
Prev close
14.67
Day high
14.72
Day low
14.52
Volume
212.29K
Market cap
$3.12B
P/E (TTM)
12.23
52W range
12.32 – 15.49
Day trading desk
Gap from prior close
-0.00%
Prior close 14.67
VWAP
14.68
+0.02% from price
Relative volume
1.09×
Normal
Session range
1.41%
14.52 – 14.73
Position in range
78%
Near session high
ATR (14D)
0.23
1.58% of price
Prior day high
14.78
PDH
Prior day low
14.45
PDL
Bid / ask spread
—
Quote not published
Session volume
409.11K
Avg 375.43K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
+2.59%
+0.6%
1M
+0.20%
-1.0%
3M
+3.60%
-0.9%
6M
+1.87%
-16.3%
YTD
+10.46%
-3.8%
1Y
+10.04%
-6.4%
3Y
-14.80%
-97.1%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on BSM open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
-2.02M
Net selling
Buy transactions
13
205.82K shares
Sell transactions
5
2.23M shares
Net transactions
+18
Buys less sells
Sell : buy shares
10.8 : 1
Heavily one-sided
Insider-held shares
45.42M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Aug 18, 26 | STUART ALEXANDER D Director |
STOCK | 15.90K | $0 | Direct |
| Aug 6, 26 | WHITEHEAD JAMES Director |
SELL | 2.13M | $28.10M | Indirect |
| Jul 2, 26 | STUART ALEXANDER D Director |
STOCK | 1.70K | $23.75K | Direct |
| Jul 2, 26 | RANDALL WILLIAM E Director |
STOCK | 1.61K | $22.49K | Direct |
| Jul 2, 26 | KYLE JERRY V JR. Director |
STOCK | 1.34K | $18.75K | Direct |
| Jun 1, 26 | DEWALCH D. MARK Director |
BUY | 72.73K | $985.35K | Indirect |
| May 28, 26 | DEWALCH D. MARK Director |
BUY | 37.65K | $497.34K | Direct |
| May 13, 26 | CARTER THOMAS L JR Officer and Director |
BUY | 1.12K | $15.12K | Direct |
| May 12, 26 | CARTER THOMAS L JR Officer and Director |
BUY | 67.76K | $909.34K | Direct |
| May 12, 26 | LONGMAID ASHLEY J Director |
SELL | 11.13K | $149.70K | Direct |
| May 5, 26 | PUTMAN LUKE STEVENS General Counsel |
SELL | 29.39K | $404.00K | Direct |
| Apr 6, 26 | PUTMAN LUKE STEVENS General Counsel |
SELL | 29.39K | $424.68K | Direct |
| Apr 6, 26 | PUTMAN LUKE STEVENS General Counsel |
SELL | 29.39K | $424.68K | Direct |
| Apr 2, 26 | STUART ALEXANDER D Director |
STOCK | 1.57K | $23.74K | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
CARTER THOMAS L JR |
Officer and Director | 15.46M | Purchase |
DEWALCH D. MARK |
Director | — | Purchase |
HAMMAN ANNE LENOIR |
Director | 509.79K | Stock Award(Grant) |
KYLE JERRY V JR. |
Director | 926.76K | Stock Award(Grant) |
LINN MICHAEL C |
Director | 208.15K | Stock Award(Grant) |
MATHIS WILLIAM N |
Director | 2.27M | Stock Award(Grant) |
PUTMAN LUKE STEVENS |
General Counsel | 702.64K | Sale |
RANDALL WILLIAM E |
Director | 193.38K | Stock Award(Grant) |
STUART ALEXANDER D |
Director | 6.58M | Stock Gift |
WHITEHEAD JAMES |
Director | — | Sale |
Fundamentals
Market cap$3.12B
Enterprise value$3.62B
Revenue (TTM)$423.60M
Gross profit$379.50M
EBITDA$334.90M
Net income$254.12M
EPS (TTM)$1.20
Free cash flow$97.28M
Total cash$1.67M
Total debt$196.00M
Book value / share$3.82
Shares outstanding212.71M
Float164.31M
Short % of float1.47%
Dividend yield8.31%
Beta (5Y)0.12
Valuation & profitability ratios
Trailing P/E12.23
Forward P/E13.05
PEG ratio1.36
Price / sales—
Price / book3.84
EV / revenue8.54
EV / EBITDA10.80
Gross margin89.59%
Operating margin95.36%
Profit margin66.95%
Return on equity25.59%
Return on assets14.03%
Debt / equity17.60
Current ratio3.76
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $422.33M | $439.43M | $501.10M | $784.28M | -3.9% |
| Operating revenue | $422.33M | $439.43M | $501.10M | $784.28M | -3.9% |
| Cost of revenue | $86.05M | $104.48M | $114.05M | $126.42M | -17.6% |
| Gross profit | $336.28M | $334.95M | $387.05M | $657.87M | +0.4% |
| Selling, general & admin | $55.46M | $52.08M | $51.45M | $53.65M | +6.5% |
| Total operating expense | $75.47M | $56.12M | $54.65M | $54.71M | +34.5% |
| Operating income | $260.81M | $278.84M | $332.41M | $603.16M | -6.5% |
| Net interest income | -$8.69M | -$1.44M | -$887.00K | -$6.23M | -502.4% |
| Pre-tax income | $299.93M | $271.33M | $422.55M | $476.48M | +10.5% |
| Net income | $299.93M | $271.33M | $422.55M | $476.48M | +10.5% |
| Net income to common | $270.47M | $241.86M | $400.77M | $455.48M | +11.8% |
| Basic EPS | 1.28 | 1.15 | 1.91 | 2.18 | +11.3% |
| Diluted EPS | 1.28 | 1.15 | 1.88 | 2.12 | +11.3% |
| EBIT | $308.86M | $274.44M | $425.30M | $482.77M | +12.5% |
| EBITDA | $345.75M | $319.63M | $470.99M | $530.57M | +8.2% |
| Basic shares | 211.67M | 210.68M | 209.97M | 209.38M | +0.5% |
| Diluted shares | 211.73M | 210.78M | 225.10M | 224.45M | +0.5% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.48M | $2.52M | $70.28M | $4.31M | — | -41.3% |
| Cash & short-term investments | $1.48M | $2.52M | $70.28M | $4.31M | — | -41.3% |
| Accounts receivable | $2.89M | $4.05M | $77.56M | $129.08M | — | -28.5% |
| Total current assets | $95.64M | $78.54M | $193.13M | $173.38M | — | +21.8% |
| Property, plant & equipment | $1.23B | $1.13B | $1.07B | $1.09B | — | +8.0% |
| Total assets | $1.34B | $1.22B | $1.27B | $1.27B | — | +9.6% |
| Total current liabilities | $24.62M | $30.42M | $25.84M | $30.73M | — | -19.1% |
| Long-term debt | $154.00M | $25.00M | — | $10.00M | $89.00M | +516.0% |
| Total debt | $155.99M | $25.71M | — | $10.00M | $89.00M | +506.6% |
| Total liabilities | $207.10M | $89.47M | $49.54M | $61.27M | — | +131.5% |
| Shareholder equity | $0 | $0 | $0 | $0 | — | — |
| Working capital | $71.01M | $48.12M | $167.29M | $142.65M | — | +47.6% |
| Net tangible assets | $0 | $0 | $0 | $0 | — | — |
| Shares issued | 211.87M | 210.69M | 209.99M | 209.41M | — | +0.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $299.93M | $271.33M | $422.55M | $476.48M | +10.5% |
| Stock-based compensation | $9.62M | $8.56M | $10.83M | $17.39M | +12.3% |
| Change in working capital | -$1.35M | $11.50M | $48.81M | -$36.45M | -111.8% |
| Operating cash flow | $310.17M | $389.04M | $521.25M | $424.98M | -20.3% |
| Capital expenditure | -$119.11M | -$115.03M | -$19.81M | -$12.56M | -3.5% |
| Investing cash flow | -$118.27M | -$112.24M | -$19.74M | -$1.22M | -5.4% |
| Share buybacks | -$3.78M | -$4.45M | -$5.50M | -$2.99M | +15.1% |
| Dividends paid | -$315.12M | -$365.06M | -$419.82M | -$343.40M | +13.7% |
| Financing cash flow | -$192.93M | -$344.57M | -$435.54M | -$428.34M | +44.0% |
| Free cash flow | $191.06M | $274.01M | $501.44M | $412.42M | -30.3% |
| End cash position | $1.48M | $2.52M | $70.28M | $4.31M | -41.3% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $122.12M | $123.91M | $95.18M | $105.18M | $106.71M | -1.4% |
| Operating revenue | $122.12M | $123.91M | $95.18M | $105.18M | $106.71M | -1.4% |
| Cost of revenue | $17.61M | $20.88M | $19.78M | $23.59M | $21.20M | -15.7% |
| Gross profit | $104.51M | $103.03M | $75.40M | $81.59M | $85.51M | +1.4% |
| Selling, general & admin | $16.08M | $16.83M | $14.08M | $12.29M | $13.92M | -4.5% |
| Total operating expense | $21.29M | $21.85M | $24.07M | $14.78M | $16.01M | -2.5% |
| Operating income | $83.22M | $81.19M | $51.33M | $66.81M | $69.50M | +2.5% |
| Net interest income | -$3.76M | -$3.33M | -$2.78M | -$2.36M | -$2.21M | -12.9% |
| Pre-tax income | $106.36M | $13.27M | $72.23M | $91.73M | $120.03M | +701.4% |
| Net income | $106.36M | $13.27M | $72.23M | $91.73M | $120.03M | +701.4% |
| Net income to common | $98.99M | $5.91M | $64.86M | $84.36M | $112.66M | +1,576.1% |
| Basic EPS | 0.47 | 0.03 | 0.31 | 0.40 | 0.53 | +1,466.7% |
| Diluted EPS | 0.47 | 0.03 | 0.31 | 0.40 | 0.53 | +1,466.7% |
| EBIT | $110.17M | $16.63M | $75.06M | $94.16M | $122.30M | +562.4% |
| EBITDA | $119.58M | $26.42M | $83.73M | $104.06M | $131.49M | +352.6% |
| Basic shares | 212.60M | 212.37M | 211.87M | 211.85M | 211.69M | +0.1% |
| Diluted shares | 212.60M | 212.37M | 212.12M | 211.85M | 226.76M | +0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.67M | $11.61M | $1.48M | $2.86M | $2.52M | -85.6% |
| Cash & short-term investments | $1.67M | $11.61M | $1.48M | $2.86M | $2.52M | -85.6% |
| Accounts receivable | $6.62M | $3.75M | $2.89M | $5.15M | $5.45M | +76.3% |
| Total current assets | $89.01M | $95.69M | $95.64M | $85.17M | $93.39M | -7.0% |
| Property, plant & equipment | $1.26B | $1.23B | $1.23B | $1.18B | $1.17B | +2.8% |
| Total assets | $1.37B | $1.34B | $1.34B | $1.27B | $1.27B | +2.1% |
| Total current liabilities | $23.69M | $40.98M | $24.62M | $19.50M | $28.98M | -42.2% |
| Long-term debt | $196.00M | $187.00M | $154.00M | $95.00M | $99.00M | +4.8% |
| Total debt | $197.17M | $188.05M | $155.99M | $95.00M | $99.00M | +4.8% |
| Total liabilities | $252.44M | $264.73M | $207.10M | $145.17M | $165.27M | -4.6% |
| Shareholder equity | $0 | $0 | $0 | $0 | $0 | — |
| Working capital | $65.31M | $54.71M | $71.01M | $65.67M | $64.41M | +19.4% |
| Net tangible assets | $0 | $0 | $0 | $0 | $0 | — |
| Shares issued | 212.70M | 212.49M | 211.87M | 211.85M | 211.84M | +0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $106.36M | $13.27M | $72.23M | $91.73M | $120.03M | +701.4% |
| Stock-based compensation | $2.48M | $3.55M | $2.40M | $2.21M | $1.96M | -30.2% |
| Change in working capital | $9.70M | -$16.90M | $786.00K | $15.73M | -$1.61M | +157.4% |
| Operating cash flow | $92.97M | $62.56M | $65.10M | $99.76M | $80.48M | +48.6% |
| Capital expenditure | -$40.79M | -$12.11M | -$55.32M | -$20.70M | -$29.62M | -236.8% |
| Investing cash flow | -$40.79M | -$11.99M | -$54.88M | -$20.70M | -$29.62M | -240.2% |
| Share buybacks | $0 | -$2.33M | -$22.00K | -$466.00K | $0 | +100.0% |
| Dividends paid | -$71.12M | -$71.07M | -$70.92M | -$70.92M | -$86.73M | -0.1% |
| Financing cash flow | -$62.12M | -$40.44M | -$14.91M | -$75.40M | -$50.76M | -53.6% |
| Free cash flow | $52.18M | $50.45M | $9.78M | $79.05M | $50.86M | +3.4% |
| End cash position | $1.67M | $11.61M | $1.48M | $6.17M | $2.52M | -85.6% |
Options analytics
Put / call volume
0.02
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
2.50
-83.0% from spot
ATM implied vol
3.1%
Nearest strike to spot
Skew (10% OTM)
+21.9%
Puts bid over calls
Call volume
456
Contracts, this expiry
Put volume
11
Contracts, this expiry
Heaviest call OI
2.50
0 contracts
Heaviest put OI
10.00
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.25 | 0.30 | +20.0% |
| Mar 2026 | 0.23 | 0.28 | +20.0% |
| Dec 2025 | 0.27 | 0.22 | -19.3% |
| Sep 2025 | 0.29 | 0.30 | +4.7% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.21 | 1 | $105.24M | -20.6% |
| Next quarter | 0.19 | 1 | $103.04M | -13.2% |
| Current year | 1.10 | 2 | $433.30M | -7.8% |
| Next year | 1.13 | 2 | $478.89M | +10.5% |
Analyst targets & ownership
Mean target$16.00
High target$16.00
Low target$16.00
Implied upside8.99%
Analyst count1
ConsensusNONE
Strong buy / Buy0 / 0
Hold3
Sell / Strong sell0 / 0
Held by insiders21.36%
Held by institutions19.42%
Institutions holding213
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
14.52
+1.14% from price
SMA 20
14.70
-0.15% from price
SMA 50
14.69
-0.07% from price
SMA 100
14.33
+2.44% from price
SMA 200
14.39
+2.00% from price
EMA 12
14.60
+0.57% from price
EMA 26
14.65
+0.23% from price
EMA 50
14.61
+0.51% from price
RSI (14)
51.1
Neutral
MACD (12,26,9)
-0.05
Hist -0.01
ATR (14)
0.23
1.58% of price
Realised vol 30D
15.9%
Annualised
Bollinger upper
15.15
20, 2σ
Bollinger lower
14.25
20, 2σ
50 / 200 cross
Golden
14.69 vs 14.39
Trend bias
Above 200
+2.00%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
-0.16
Less volatile than market
Correlation to SPY
-0.10
Largely independent
Realised vol 30D
15.9%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-14.0%
Peak to trough
Max drawdown 5Y
-39.7%
Peak to trough
ATR 14
0.23
1.58% of price
Beta (reported)
0.12
5Y monthly, from filing
Short interest
Shares short
2.59M
Prior 3.17M
Change vs prior
-18.5%
Shorts covering
% of float
1.47%
Normal
% of shares out
1.22%
Against total outstanding
Days to cover
7.4
Crowded exit
Float
164.31M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| May 29, 26 | RBC Capital | INITIATED | — | Sector Perform |
| Mar 5, 26 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Aug 14, 25 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| May 13, 25 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Apr 22, 25 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Mar 6, 25 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Nov 18, 24 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Aug 15, 24 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Jun 27, 24 | Keybanc | INITIATED | — | Sector Weight |
| Mar 7, 24 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Jan 24, 24 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Jan 23, 24 | Stifel | MAINTAINED | Buy | Buy |
Dividends & splits
Forward rate$1.22 / yr
Forward yield8.31%
5-year avg yield9.42%
Payout ratio100.00%
Ex-dividend dateAug 6, 2026
Next pay dateAug 13, 2026
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-08-04
Corporate Changes & Voting Matters
8-K · 2026-06-16
Corporate Changes & Voting Matters
8-K · 2026-05-05
Proxy Statements
DEF 14A · 2026-04-30
Corporate Changes & Voting Matters
8-K · 2026-02-24
Corporate Changes & Voting Matters
8-K · 2026-02-10
Corporate Changes & Voting Matters
8-K/A · 2026-01-07
Corporate Changes & Voting Matters
8-K · 2025-11-05
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Are Options Traders Betting on a Big Move in Black Stone Minerals Stock?
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1 Stock Under $50 on Our Buy List and 2 We Find Risky
StockStory · 50d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.