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Black Stone Minerals , L.P. (NYSE:BSM), a $2.8 billion market cap company currently trading near its 52-week low, announced that Carrie Clark, Senior Vice President and Chief Commercial Officer, will depart the company effective June 17, 2025. According to InvestingPro analysis, the company maintains a strong financial health score and appears slightly undervalued based on its Fair Value assessment. According to the SEC filing, Clark and the Board of Directors of Black Stone Minerals GP, L.L.C., the partnership’s general partner, mutually agreed to the departure. Clark is expected to enter into a separation and release agreement with the partnership.
The filing also reported that unitholders approved the adoption of the Black Stone Minerals, L.P. 2025 Long-Term Incentive Plan (2025 LTIP) during the company’s annual meeting held on June 12. The new plan replaces the prior LTIP, which expired on May 6, 2025, though the previous plan will continue to govern outstanding awards granted before expiration.
The 2025 LTIP reserves 6.7 million common units for awards, including 3.19 million units previously available under the prior plan and an additional 3.51 million newly reserved units. The plan allows for various equity awards including unit options, unit appreciation rights, restricted units, and phantom units to non-employee directors, employees, and consultants.
During the annual meeting, unitholders also elected ten directors to serve until 2026, ratified Deloitte & Touche LLP as the partnership’s independent registered public accounting firm for 2025, and approved executive compensation on a non-binding advisory basis.
In other recent news, Black Stone Minerals reported disappointing first-quarter 2025 earnings, with both earnings per share (EPS) and revenue falling short of analyst expectations. The company posted an EPS of $0.04, significantly below the forecasted $0.32, and revenue of $59.25 million, missing the anticipated $118.35 million. Despite these results, Black Stone Minerals maintained its quarterly distribution of $0.375 per unit. The company also reported a net income of $15.9 million and an adjusted EBITDA of $82.2 million. Analysts from Texas Capital raised questions about the company’s activity in the Haynesville region and its acquisition strategy, noting Black Stone’s purchase of over $160 million in minerals since September 2023. The company continues to focus on strategic development in East Texas and the Permian Basin, with plans to turn nine gross wells to sales in the fourth quarter of 2025. Black Stone Minerals remains optimistic about natural gas prices and is strategically positioned in key regions such as the Shelby Trough and Haynesville.
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