Black Stone Minerals L.P. (BSM) vs Northern Oil and Gas (NOG)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Black Stone Minerals L.P. (BSM) has outperformed Northern Oil and Gas (NOG) over the past year, gaining 8.7% versus a loss of 2.7%. Over five years, BSM leads with a +19.8% price change compared with -4.0% for NOG. Black Stone Minerals L.P. is the larger company by market cap ($3.14 billion vs $2.68 billion), about 1.2 times the size, while Northern Oil and Gas is growing revenue faster (+11.2% vs +8.4%).
On valuation, Northern Oil and Gas trades at a lower forward P/E (5.5x vs 13.1x for Black Stone Minerals L.P.). Black Stone Minerals L.P. offers the higher dividend yield (8.27% vs 7.16%). Black Stone Minerals L.P. converts more of its revenue into profit, with a net margin of 63.8% versus 1.6%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | BSM | NOG |
|---|---|---|
| Share price | $14.75 | $25.14 |
| Market cap | $3.14B | $2.68B |
| 1-day change | +0.89% | +3.97% |
| YTD return | +10.46% | +12.62% |
| 1-year return | +8.66% | -2.74% |
| 5-year return | +19.84% | -4.01% |
| P/E ratio (TTM) | 12.29 | — |
| Forward P/E | 13.11 | 5.52 |
| EPS (TTM) | $1.20 | $-4.85 |
| Dividend yield | 8.27% | 7.16% |
| Annual dividend | $1.22 | $1.80 |
| Revenue (latest FY) | $469.92M | $2.48B |
| Revenue growth (YoY) | +8.35% | +11.23% |
| Net income (latest FY) | $299.93M | $38.76M |
| Gross margin | — | 80.87% |
| Operating margin | 65.63% | 9.93% |
| Net margin | 63.83% | 1.57% |
| 52-week high | $15.49 | $31.17 |
| 52-week low | $12.32 | $17.18 |
| Distance from 52-week high | -4.78% | -19.35% |
| Analyst consensus | none | buy |
| Avg. price target upside | +8.47% | +21.08% |
| Average volume | 372.02K | 2.35M |
| Shares outstanding | 212.71M | 106.55M |
| Employees | — | 64 |
| Sector | Energy | Energy |
| Industry | Oil & Gas Production | Oil & Gas Production |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- BSM has outperformed NOG by 11.4 percentage points over the past year.
- Black Stone Minerals L.P. offers a meaningfully higher dividend yield (8.27% vs 7.16%).
- Black Stone Minerals L.P. is more profitable, keeping 63.8 cents of every revenue dollar as net income versus 1.6 cents for Northern Oil and Gas.
About Black Stone Minerals L.P.
BSM stock →Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.9 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.
Energy · Oil & Gas Production
About Northern Oil and Gas
NOG stock →Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. Northern Oil and Gas, Inc.
Energy · Oil & Gas Production · 64 employees
BSM vs NOG FAQ
Which is bigger, Black Stone Minerals L.P. or Northern Oil and Gas?
Black Stone Minerals L.P. (BSM) is larger, with a market capitalization of $3.14B compared with $2.68B for Northern Oil and Gas (NOG).
Which stock has performed better over the past year, BSM or NOG?
BSM returned +8.66% over the past 12 months, compared with -2.74% for NOG (price return, excluding dividends). Past performance does not predict future results.
Which pays a higher dividend, Black Stone Minerals L.P. or Northern Oil and Gas?
Black Stone Minerals L.P. has the higher yield at 8.27%, compared with 7.16% for Northern Oil and Gas.
Are Black Stone Minerals L.P. and Northern Oil and Gas in the same industry?
Yes. Both are classified in the Oil & Gas Production industry within the Energy sector.