North European Oil Royalty Trust
Collects German oil and gas royalties for unit owners.
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Profile
Holds overriding royalty rights on gas, oil, condensate, and sulfur sales from the Oldenburg concession in northwestern Germany. This passive grantor trust collects royalties, covers administrative expenses, and distributes the balance to unit owners.
Holds overriding royalty rights tied to gas, oil, condensate, and sulfur sales from the Oldenburg concession in Lower Saxony, Germany. Mobil Erdgas-Erdöl and Oldenburgische Erdölgesellschaft operate the fields; the Trust does not drill wells or run field operations.
Revenue comes through the Mobil and OEG royalty agreements, which apply different formulas to production and sales in the concession. The Trust collects and verifies those royalties, reserves for administrative expenses, and distributes the remaining cash to its unit owners.
Its economic activity is concentrated in that single German concession and depends on the operators' production, drilling activity, and the applicable royalty price formulas.
Company facts
Key statistics
Year to date +27.3% · Average volume (30d) 49.3K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 5, 2026Q2 FY26 | — | $0.22 | — | — | $2.4M | — | −5.34% |
| Mar 2, 2026Q1 FY26 | — | $0.21 | — | — | $2.2M | — | −1.44% |
| Dec 31, 2025Q4 FY25 | — | $0.32 | — | — | $3.1M | — | +7.60% |
| Aug 29, 2025Q3 FY25 | — | $0.26 | — | — | $2.6M | — | −4.86% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $505.7K | $2.5M | $2.6M | $3.1M | $2.2M | $2.4M | |
| Gross profit | $505.7K | $2.5M | $2.6M | $3.1M | $1.9M | $2.1M | |
| Operating income | $505.7K | $2.2M | $2.4M | $2.9M | $1.9M | $2.1M | |
| Net income | $285.5K | $2.3M | $2.5M | $2.9M | $1.9M | $2.1M | |
| Diluted EPS | $0.03 | $0.25 | $0.27 | $0.32 | $0.21 | $0.22 | |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 87.3% | 85.5% | |
| Operating margin | 100.0% | 90.8% | 93.1% | 95.3% | 87.2% | 85.5% |
Fiscal years (4-quarter sums)FY21 $4.6M · FY22 $17.8M · FY23 $22.0M · FY24 $5.8M · FY25 $8.7M
Balance sheet, Apr 30, 2026Cash & short-term investments $3.9M · Total debt $0 · Total assets $3.9M · Shareholders' equity $1.9M
Dividends
Last raised to $0.26 from $0.22 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Aug 31 | $0.26 | raised from $0.22 |
| May 13, 2026 | May 13 | May 27 | $0.22 | |
| Feb 13, 2026 | Feb 13 | Feb 25 | $0.22 | cut from $0.31 |
| Nov 14, 2025 | Nov 14 | Nov 26 | $0.31 | raised from $0.26 |
| Aug 15, 2025 | Aug 15 | Aug 27 | $0.26 | raised from $0.20 |
| May 16, 2025 | May 16 | May 28 | $0.20 | raised from $0.04 |
| Feb 14, 2025 | Feb 14 | Feb 26 | $0.04 | raised from $0.02 |
| Nov 15, 2024 | Nov 15 | Nov 27 | $0.02 | cut from $0.21 |
Ownership
Shares outstanding 9.19M · Float 8.90M · 96.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Marshall Wace, LLP | 221.0K | 2.40% | 13F | Aug 13, 2026 |
| Morgan Stanley | 84.3K | 0.92% | 13F | Aug 13, 2026 |
| Cambridge Investment Research Advisors, Inc. | 70.0K | 0.76% | 13F | Jul 30, 2026 |
| Washington Trust Advisors, Inc. | 53.4K | 0.58% | 13F | Jul 29, 2026 |
| LPL Financial LLC | 40.0K | 0.44% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 17, 2026 | Richard Page Howard | other: Trustee | −25,000 | $8.62 |
Peers
- Permian Basin Royalty Trust
Texas oil-and-gas royalty trust with net overriding interests
- Sabine Royalty Trust
Multi-state oil-and-gas royalty and mineral interests
- San Juan Basin Royalty Trust
San Juan Basin trust holding a net overriding royalty
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| North European Oil Royalty Trust | $9.02 | +0.11% | $82.9M | 8.8 | — | 8.0 | −3.7% |
| Permian Basin Royalty Trust | $33.82 | −0.12% | $1.58B | 97.3 | — | 89.1 | +34.4% |
| Sabine Royalty Trust | $74.85 | −0.22% | $1.09B | 15.3 | — | 14.5 | +16.7% |
| San Juan Basin Royalty Trust | $2.71 | −0.37% | $126.3M | — | — | 120,409.8 | −93.8% |
| Median | 56.3 | — | 89.1 | +16.7% |