Black Stone Minerals (NYSE:BSM) Q1 Revenue Misses by 39.5%, Worst Among E&P Peers

Black Stone Minerals (NYSE:BSM) reported first-quarter revenue that missed analyst estimates by 39.5%, the weakest result among mixed or offshore upstream exploration and production companies tracked. The company’s stock has fallen 6.2% since the earnings release, trading at $13.36 as of May 29, 2026. As a group, the 21 E&P stocks posted aggregate revenue 0.8% below consensus and their shares have averaged a 5.4% decline since results. Vitesse Energy (NYSE:VTS) also disappointed, missing EBITDA and EPS forecasts, while Seadrill (NYSE:SDRL), Centrus Energy (NYSE:LEU), and APA Corporation (NASDAQ:APA) exceeded expectations. The sector’s underperformance coincides with a broader shift in market sentiment from AI-related concerns to geopolitical tensions, including the U.S.-Iran conflict, which has heightened volatility across energy equities.