HOUSTON (AP) — HOUSTON (AP) — Black Stone Minerals LP (BSM) on Monday reported first-quarter earnings of $63.9 million.

The Houston-based company said it had profit of 27 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The partnership that owns mineral and royalty interests posted revenue of $105.5 million in the period.

Black Stone Minerals shares have risen roughly 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $16.70, a climb of 11% in the last 12 months.

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