Permian Basin Royalty Trust
Collects net-profits royalties from Texas oil and gas properties.
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Profile
Collects cost-bearing royalty proceeds from the Waddell Ranch and Texas Royalty properties, then distributes remaining cash monthly to unitholders. The indenture bars new assets and operating activity, making income dependent on property operators, commodity prices, and allowable costs.
Collects net-profits royalty proceeds from Waddell Ranch in Crane County and Texas Royalty properties across Texas. Property owners sell the crude oil, natural gas, and natural-gas liquids; Blackbeard operates Waddell Ranch, while Riverhill conducts field, technical, and accounting work for Texas Royalty properties.
Passes available cash to unitholders after expenses, liabilities, and reserve additions. Gross production proceeds are reduced by taxes and permitted development, drilling, operating, processing, and other costs before the applicable royalty applies; excess costs carry forward separately within each property group.
The indenture prohibits new assets and operating business activity, leaving execution focused on collecting proceeds, paying obligations, maintaining reserves, and distributing cash. Results depend on commodity prices, operator development and reporting, regulatory costs, and depleting Texas reserves. Operators retain control over drilling, marketing, transfers, and abandonment.
Company facts
Key statistics
Year to date +92.5% · Average volume (30d) 137.0K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | — | $0.08 | — | — | $4.2M | — | +0.27% |
| May 14, 2026Q1 FY26 | — | $0.06 | — | — | $3.6M | — | +6.19% |
| Mar 27, 2026 | — | $0.06 | — | — | $2.7M | — | −1.94% |
| Nov 13, 2025 | — | $0.15 | — | — | $7.3M | — | +5.74% |
Financial highlights
| 2 quarters | — | — | — | — | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $3.6M | $4.2M | |
| Gross profit | — | — | — | — | $3.6M | $4.2M | |
| Operating income | — | — | — | — | $3.0M | $3.9M | |
| Net income | — | — | — | — | $3.0M | $3.9M | |
| Diluted EPS | — | — | — | — | $0.06 | $0.08 | |
| Gross margin | — | — | — | — | 100.0% | 100.0% | |
| Operating margin | — | — | — | — | 84.8% | 92.7% |
Balance sheet, Jun 30, 2026Cash & short-term investments $2.2M · Total debt $0 · Total assets $2.4M · Shareholders' equity $161.7K
Dividends
Last raised to $0.0436 from $0.0247 in Jul 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 31, 2026 | Jul 31 | Aug 14 | $0.0436 | raised from $0.0247 |
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.0247 | raised from $0.0204 |
| May 29, 2026 | May 29 | Jun 12 | $0.0204 | cut from $0.038 |
| Apr 30, 2026 | Apr 30 | May 14 | $0.038 | raised from $0.0107 |
| Mar 31, 2026 | Mar 31 | Apr 14 | $0.0107 | cut from $0.0142 |
| Feb 27, 2026 | Feb 27 | Mar 13 | $0.0142 | cut from $0.0401 |
| Jan 30, 2026 | Jan 30 | Feb 13 | $0.0401 | raised from $0.0132 |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.0132 | cut from $0.0192 |
Ownership
Shares outstanding 46.61M · Float 35.72M · 76.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Horizon Kinetics Asset Management LLC | 6.73M | 14.44% | 13F | Aug 11, 2026 |
| SoftVest Advisors, LLC | 6.22M | 13.30% | 13D | Jul 29, 2026 |
| Mad River Investors | 1.01M | 2.16% | 13F | Aug 3, 2026 |
| Schwartz Investment Counsel Inc | 933.7K | 2.00% | 13F | Jul 27, 2026 |
| Foundation Resource Management Inc | 626.3K | 1.34% | 13F | Jul 21, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Viper Energy
Large Permian mineral-and-royalty platform for public income exposure.
- Sabine Royalty Trust
Fixed-purpose royalty trust for oil-and-gas income exposure.
- Cross Timbers Royalty Trust
Closest structural peer in cost-bearing net-profits interests.
- Kimbell Royalty Partners
Diversified mineral-and-royalty portfolio for public income investors.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Permian Basin Royalty Trust | $33.82 | −0.12% | $1.58B | 97.3 | — | 89.1 | +34.4% |
| Viper Energy | $44.18 | 0.00% | $15.91B | 339.8 | 18.6 | 8.1 | +135.9% |
| Sabine Royalty Trust | $74.85 | −0.22% | $1.09B | 15.3 | — | 14.5 | +16.7% |
| Cross Timbers Royalty Trust | $10.42 | −0.71% | $62.5M | 19.7 | — | 14.6 | −14.8% |
| Kimbell Royalty Partners | $15.46 | +3.85% | $1.47B | 22.8 | 14.7 | 4.0 | +30.0% |
| Median | 21.2 | 16.7 | 11.3 | +23.3% |