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Community sentiment
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PBT vs S&P 500 · rebased to 100
Background shading marks the US business-cycle phase at each point in time — early, mid and late expansion, then recession— so you can see which economic backdrop each move happened in. Recessions are NBER-official; expansion sub-phases are ActaClear's editorial dating.
Live market
delayed ≤15 min- Market cap
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- Dividend yield
- 1.6%
- 52-wk high
- $32.25
- 52-wk low
- $12.31
- Beta
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- Shares out
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What this company does
Permian Basin Royalty Trust holds net overriding royalty interests on oil and gas properties in West Texas, primarily the Waddell Ranch in Crane County and various Texas Royalty properties. It earns income by collecting a share of net proceeds from crude oil and natural gas production on those underlying properties, then passes that cash through to unitholders as monthly distributions after trustee expenses. Since Blackbeard Operating took over the Waddell Ranch in 2020, distributions now run one month in arrears, and the trust remains entirely passive with no employees and no ability to acquire new assets.
Generated from PBT's filing dated 2026-03-27
Key risks
- Operator concentration: Blackbeard Operating (Waddell Ranch) and BROG/ConocoPhillips (Texas Royalties) control all production decisions, marketing, and cost reporting affecting distributions.
- Production-cost overruns reduce or zero out distributions: if costs exceed gross proceeds, shortfalls plus interest are recovered from future Trust payments.
- Distribution timing lag: since May 2024, Blackbeard proceeds are reported and distributed one month in arrears, delaying unitholder cash flow visibility.
Generated from PBT's filing dated 2026-03-27
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Oil Royalty Traders (10 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 29, 2026.