Overview
U.S. mineral rights firm's Q4 2025 oil & gas revenue fell 10% from prior quarter
Adjusted EBITDA for Q4 2025 beat analyst expectations
Company expects production growth in 2026 from Shelby Trough and Permian projects
Outlook
Black Stone expects 2026 total production between 33 MBoe/d and 36 MBoe/d
Company anticipates 2026 exploration expenses of $28 mln to $32 mln
Black Stone sees 2026 lease bonus income between $12 mln and $15 mln
Result Drivers
PRODUCTION DECLINE - Q4 2025 mineral and royalty production decreased due to reduced activity in the Shelby Trough since late 2023
Company press release: ID:nBw66ppnxa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Oil & Gas Revenue
$90.50 mln
Q4 EPS
$0.31
Q4 Net Income
$72.20 mln
Q4 Adjusted EBITDA
Beat
$76.70 mln
$73.74 mln (4 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy."
Wall Street's median 12-month price target for Black Stone Minerals LP is $15.00, about 0.9% below its February 23 closing price of $14.86
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 11 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
