Permian Basin Royalty Trust (PBT)
Collects net-profits royalties from Texas oil and gas properties.
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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
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.2M · Total debt $0 · Total assets $2.4M · Shareholders' equity $161.7K
- Revenue
- $4.2M
- Operating income
- $3.9M
- Net income
- $3.9M
HistoryDividendAnnual yieldUpcoming
| Institutions | ≈ 43.25% | 20.16M shares | |
|---|---|---|---|
| 105 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 7.24% | 3.37M shares | |
| 1 holder · as of Feb 11, 2021 | |||
| Other | ≈ 49.51% | 23.08M shares | |
| remainder | |||
46.61M company shares as of Aug 25, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Horizon Kinetics Asset Management LLCInstitution | 14.44% | 6.73M | as of Jun 30, 2026 |
Softvest Advisors, LLCInstitution | 13.34% | 6.22M | as of Jun 30, 2026 |
Loyd PowellInsider | 7.24% | 3.37M | filed Feb 11, 2021 |
Mad River InvestorsInstitution | 2.16% | 1.01M | as of Jun 30, 2026 |
Schwartz Investment Counsel IncInstitution | 2.00% | 933,719 | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- 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.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Permian Basin Royalty Trust | $33.34 | +0.23% | $1.55B | 94.9 | — | 87.6 | +34.4% |
| Viper Energy | $41.41 | −0.75% | $15.02B | 320.9 | 16.8 | 7.6 | +128.0% |
| Sabine Royalty Trust | $72.75 | +0.54% | $1.05B | 14.8 | — | 14.1 | +16.7% |
| Cross Timbers Royalty Trust | $12.23 | −0.77% | $73.9M | 23.7 | — | 17.2 | −14.8% |
| Kimbell Royalty Partners | $14.31 | −0.90% | $1.42B | 22.1 | 13.2 | 3.9 | +30.0% |
| Median | 22.9 | 15.0 | 10.8 | +23.3% |