Declared Dividend • May 20
Dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 29th May 2026 Payment date: 12th June 2026 Dividend yield will be 1.1%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 7.9% to bring the payout ratio under control, which is less than the 16% EPS growth achieved over the last 5 years. Announcement • May 19
Permian Basin Royalty Trust Declares May Cash Distribution, Payable on June 12, 2026 Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.020355 per unit, payable on June 12, 2026, to unit holders of record on May 29, 2026. Reported Earnings • May 17
First quarter 2026 earnings released: EPS: US$0.065 (vs US$0.056 in 1Q 2025) First quarter 2026 results: EPS: US$0.065 (up from US$0.056 in 1Q 2025). Revenue: US$3.57m (up 16% from 1Q 2025). Net income: US$3.03m (up 17% from 1Q 2025). Profit margin: 85% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Live News • May 16
Permian Basin Royalty Trust Gains Flexible Governance as Court Lowers Unitholder Approval Requirement A Texas court approved an amendment to Permian Basin Royalty Trust’s Indenture that replaces the previous 75% supermajority requirement with a simple majority of unitholders present at a quorum for certain changes.
In Q1 2026, the Trust reported revenue of US$3.55 million and distributable income of US$3.03 million, equal to US$0.06 per unit, supported in part by a US$1.125 million payment from a US$9 million Blackbeard settlement.
The Trust reports cumulative excess costs of more than US$62 million at properties including Waddell Ranch, which continue to generate no royalty income. It also carries a 9/10 Financial Strength rating and limited growth potential.
Greater flexibility in governance could make it easier for unitholders to respond to issues such as excess costs and potential future amendments to the Trust’s structure or operations.
At the same time, the combination of steady distributable income, ongoing excess cost burdens, and concerns about stock valuation means you may want to weigh income stability against the constraints on future distribution growth. Declared Dividend • Apr 22
Dividend increased to US$0.038 Dividend of US$0.038 is 94% higher than last year. Ex-date: 30th April 2026 Payment date: 14th May 2026 Dividend yield will be 1.5%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 5.5% EPS growth achieved over the last 5 years. Announcement • Apr 21
Permian Basin Royalty Trust Declares Cash Distribution, Payable on May 14, 2026 Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.038014 per unit, payable on May 14, 2026, to unit holders of record on April 30, 2026. Reported Earnings • Mar 30
Full year 2025 earnings released: EPS: US$0.31 (vs US$0.55 in FY 2024) Full year 2025 results: EPS: US$0.31 (down from US$0.55 in FY 2024). Revenue: US$16.1m (down 41% from FY 2024). Net income: US$14.3m (down 44% from FY 2024). Profit margin: 89% (down from 94% in FY 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 23
Dividend of US$0.011 announced Shareholders will receive a dividend of US$0.011. Ex-date: 31st March 2026 Payment date: 14th April 2026 Dividend yield will be 1.5%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control, which is more than the 1.7% EPS growth achieved over the last 5 years. Announcement • Mar 20
Permian Basin Royalty Trust Announces March Cash Distribution, Payable on April 14, 2026 Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.010662 per unit, payable on April 14, 2026, to unit holders of record on March 31, 2026. Declared Dividend • Feb 19
Dividend of US$0.014 announced Shareholders will receive a dividend of US$0.014. Ex-date: 27th February 2026 Payment date: 13th March 2026 Dividend yield will be 1.7%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control, which is more than the 1.7% EPS growth achieved over the last 5 years. Announcement • Feb 17
Permian Basin Royalty Trust Announces February Cash Distribution, Payable on March 13, 2026 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.014221 per unit, payable on March 13, 2026, to unit holders of record on February 27, 2026. Declared Dividend • Jan 23
Dividend of US$0.04 announced Shareholders will receive a dividend of US$0.04. Ex-date: 30th January 2026 Payment date: 13th February 2026 Dividend yield will be 1.7%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control, which is more than the 1.7% EPS growth achieved over the last 5 years. Announcement • Jan 20
Permian Basin Royalty Trust Announces January Cash Distribution, Payable on February 13, 2026 Permian Basin Royalty Trust declared a January cash distribution to the holders of its units of beneficial interest of $0.040056 per unit, payable on February 13, 2026, to unit holders of record on January 30, 2026. Declared Dividend • Dec 22
Dividend of US$0.013 announced Shareholders will receive a dividend of US$0.013. Ex-date: 31st December 2025 Payment date: 15th January 2026 Dividend yield will be 1.8%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control, which is more than the 1.7% EPS growth achieved over the last 5 years. Announcement • Dec 19
Permian Basin Royalty Trust Announces December Cash Distribution, Payable on January 15, 2026 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.013198 per unit, payable on January 15, 2026, to unit holders of record on December 31, 2025. Declared Dividend • Nov 20
Dividend of US$0.019 announced Shareholders will receive a dividend of US$0.019. Ex-date: 28th November 2025 Payment date: 12th December 2025 Dividend yield will be 1.7%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 2.5% over the last 5 years so the company would need to reverse this trend. Announcement • Nov 17
Permian Basin Royalty Trust Announces November Cash Distribution, Payable on December 12, 2025 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.019233 per unit, payable on December 12, 2025, to unit holders of record on November 28, 2025. Upcoming Dividend • Oct 24
Upcoming dividend of US$0.02 per share Eligible shareholders must have bought the stock before 31 October 2025. Payment date: 17 November 2025. Trailing yield: 1.8%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (4.0%). Announcement • Oct 22
Permian Basin Royalty Trust Announces October Cash Distribution, Payable on November 17, 2025 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.020021 per unit, payable on November 17, 2025, to unit holders of record on October 31, 2025. Declared Dividend • Sep 22
Dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 30th September 2025 Payment date: 15th October 2025 Dividend yield will be 1.8%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 2.5% over the last 5 years so the company would need to reverse this trend. Announcement • Sep 19
Permian Basin Royalty Trust Declares September Cash Distribution, Payable on October 15, 2025 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.115493 per unit, payable on October 15, 2025, to unit holders of record on September 30, 2025. Buy Or Sell Opportunity • Sep 02
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 62% to US$17.69. The fair value is estimated to be US$13.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 20%. Declared Dividend • Aug 21
Dividend of US$0.016 announced Shareholders will receive a dividend of US$0.016. Ex-date: 29th August 2025 Payment date: 15th September 2025 Dividend yield will be 1.7%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 2.5% over the last 5 years so the company would need to reverse this trend. Announcement • Aug 20
Permian Basin Royalty Trust Declares August Cash Distribution, Payable on September 15, 2025 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust to the holders of its units of beneficial interest of $0.016418 per unit, payable on September 15, 2025, to unit holders of record on August 29, 2025. The distribution does not include proceeds from the Waddell Ranch properties, as total production costs ("Production Costs") exceeded gross proceeds ("Gross Proceeds") for the month of July, resulting in a continuing excess cost position for the Waddell Ranch properties. More information regarding the Waddell Ranch properties is described below. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: US$0.051 (vs US$0.18 in 2Q 2024) Second quarter 2025 results: EPS: US$0.051 (down from US$0.18 in 2Q 2024). Revenue: US$3.11m (down 65% from 2Q 2024). Net income: US$2.40m (down 72% from 2Q 2024). Profit margin: 77% (down from 96% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$15.60, the stock trades at a trailing P/E ratio of 32.3x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Total loss to shareholders of 9.9% over the past three years. Declared Dividend • Jul 23
Dividend of US$0.015 announced Shareholders will receive a dividend of US$0.015. Ex-date: 31st July 2025 Payment date: 14th August 2025 Dividend yield will be 2.3%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 1.3% EPS growth achieved over the last 5 years. Announcement • Jul 21
Permian Basin Royalty Trust Announces July Cash Distribution, Payable on August 14, 2025 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution for the month of July, to the holders of its units of beneficial interest of $0.015311 per unit, payable on August 14, 2025, to unit holders of record on July 31, 2025. Buy Or Sell Opportunity • Jul 16
Now 21% undervalued Over the last 90 days, the stock has risen 27% to US$12.46. The fair value is estimated to be US$15.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years. Earnings per share has declined by 4.2%. Declared Dividend • Jun 23
Dividend of US$0.013 announced Shareholders will receive a dividend of US$0.013. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 3.0%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 1.3% EPS growth achieved over the last 5 years. Announcement • Jun 20
Permian Basin Royalty Trust Declares Cash Distribution, Payable on July 15, 2025 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.012976 per unit, payable on July 15, 2025, to unit holders of record on June 30, 2025. Declared Dividend • May 21
Dividend of US$0.019 announced Shareholders will receive a dividend of US$0.019. Ex-date: 30th May 2025 Payment date: 13th June 2025 Dividend yield will be 3.7%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 24% to bring the payout ratio under control, which is more than the 1.3% EPS growth achieved over the last 5 years. Announcement • May 20
Permian Basin Royalty Trust Announces May Cash Distribution, Payable on June 13, 2025 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.018841 per unit, payable on June 13, 2025, to unit holders of record on May 30, 2025. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: US$0.06 (vs US$0.12 in 1Q 2024) First quarter 2025 results: EPS: US$0.06 (down from US$0.12 in 1Q 2024). Revenue: US$3.07m (down 49% from 1Q 2024). Net income: US$2.60m (down 53% from 1Q 2024). Profit margin: 85% (down from 91% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year. Buy Or Sell Opportunity • May 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to US$9.47. The fair value is estimated to be US$12.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 10.0%. Declared Dividend • Apr 21
Dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 30th April 2025 Payment date: 14th May 2025 Dividend yield will be 4.2%, which is lower than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 5.5% EPS growth achieved over the last 5 years. Announcement • Apr 17
Permian Basin Royalty Trust Announces April Cash Distribution, Payable on May 14, 2025 Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.019615 per unit, payable on May 14, 2025, to unit holders of record on April 30, 2025. Buy Or Sell Opportunity • Apr 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to US$9.87. The fair value is estimated to be US$12.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 10.0%. Declared Dividend • Mar 24
Dividend of US$0.018 announced Shareholders will receive a dividend of US$0.018. Ex-date: 31st March 2025 Payment date: 14th April 2025 Dividend yield will be 4.7%, which is about the same as the industry average. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 5.5% EPS growth achieved over the last 5 years. Announcement • Mar 21
Permian Basin Royalty Trust Announces Cash Distribution for the Month of March 2025, Payable on April 14, 2025 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.018047 per unit for the month of March 2025, payable on April 14, 2025, to unit holders of record on March 31, 2025. Reported Earnings • Mar 16
Full year 2024 earnings released: EPS: US$0.55 (vs US$0.60 in FY 2023) Full year 2024 results: EPS: US$0.55 (down from US$0.60 in FY 2023). Revenue: US$27.1m (down 6.8% from FY 2023). Net income: US$25.4m (down 9.2% from FY 2023). Profit margin: 94% (down from 96% in FY 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 20
Dividend of US$0.017 announced Shareholders will receive a dividend of US$0.017. Ex-date: 28th February 2025 Payment date: 14th March 2025 Dividend yield will be 4.5%, which is about the same as the industry average. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control, which is more than the 11% EPS growth achieved over the last 5 years. Announcement • Feb 18
Permian Basin Royalty Trust Declares Cash Distribution for the Month of February 2025, Payable on March 14, 2025 Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.017144 per unit for the month of February 2025, payable on March 14, 2025, to unit holders of record on February 28, 2025. Declared Dividend • Jan 23
Dividend of US$0.021 announced Shareholders will receive a dividend of US$0.021. Ex-date: 31st January 2025 Payment date: 14th February 2025 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control, which is more than the 11% EPS growth achieved over the last 5 years. Announcement • Jan 21
Permian Basin Royalty Trust Declares Cash Distribution for the Month of January 2025, Payable on February 14, 2025 Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.020510 per unit, payable on February 14, 2025, to unit holders of record on January 31, 2025. Declared Dividend • Dec 23
Dividend of US$0.022 announced Shareholders will receive a dividend of US$0.022. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 4.9%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control, which is more than the 11% EPS growth achieved over the last 5 years. Announcement • Dec 20
Permian Basin Royalty Trust Declares December Cash Distribution, Payable on January 15, 2025 Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.021939 per unit, payable on January 15, 2025, to unit holders of record on December 31, 2024. The distribution does not include proceeds from the Waddell Ranch properties, as total production costs ("Production Costs") exceeded gross proceeds ("Gross Proceeds") for the month of November, resulting in an excess cost position for the Waddell Ranch properties. Buy Or Sell Opportunity • Dec 18
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.0% to US$11.19. The fair value is estimated to be US$14.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 24%. Declared Dividend • Nov 20
Dividend of US$0.022 announced Shareholders will receive a dividend of US$0.022. Ex-date: 29th November 2024 Payment date: 13th December 2024 Dividend yield will be 4.8%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control, which is more than the 11% EPS growth achieved over the last 5 years. Announcement • Nov 19
Permian Basin Royalty Trust Declares November Cash Distribution, Payable on December 13, 2024 Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.021733 per unit, payable on December 13, 2024, to unit holders of record on November 29, 2024. This month's distribution decreased from the previous month due primarily to no proceeds for October being received from Blackbeard Operating, LLC (‘Blackbeard’) for the Waddell Ranch properties due to the excess cost position and, for the Texas Royalty Properties, lower oil and gas volumes as well as lower oil prices, slightly offset by higher gas prices for the month reported. Reported Earnings • Nov 14
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: US$8.42m (up 152% from 3Q 2023). Net income: US$8.05m (up 152% from 3Q 2023). Profit margin: 96% (in line with 3Q 2023). Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$12.19, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 11x in the Oil and Gas industry in the US. Total returns to shareholders of 67% over the past three years. Buy Or Sell Opportunity • Oct 24
Now 20% undervalued Over the last 90 days, the stock has risen 2.1% to US$11.63. The fair value is estimated to be US$14.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 33%. Declared Dividend • Oct 24
Dividend of US$0.03 announced Shareholders will receive a dividend of US$0.03. Ex-date: 31st October 2024 Payment date: 15th November 2024 Dividend yield will be 6.5%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 10% to bring the payout ratio under control, which is more than the 6.4% EPS growth achieved over the last 5 years. Buy Or Sell Opportunity • Oct 07
Now 20% undervalued Over the last 90 days, the stock has risen 1.9% to US$11.64. The fair value is estimated to be US$14.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 33%. Declared Dividend • Sep 25
Dividend of US$0.051 announced Shareholders will receive a dividend of US$0.051. Ex-date: 30th September 2024 Payment date: 15th October 2024 Dividend yield will be 6.7%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 10% to bring the payout ratio under control, which is more than the 6.4% EPS growth achieved over the last 5 years. Announcement • Sep 21
Permian Basin Royalty Trust Declares September Cash Distribution, Payable on October 15, 2024 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.050711 per unit, payable on October 15, 2024, to unit holders of record on September 30, 2024. Declared Dividend • Aug 22
Dividend of US$0.052 announced Shareholders will receive a dividend of US$0.052. Ex-date: 30th August 2024 Payment date: 16th September 2024 Dividend yield will be 7.1%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 2.2% EPS growth achieved over the last 5 years. Buy Or Sell Opportunity • Aug 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to US$10.62. The fair value is estimated to be US$13.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years. Earnings per share has grown by 45%. Announcement • Aug 20
Permian Basin Royalty Trust Announces August Cash Distribution, Payable on September 16, 2024 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.051902 per unit, payable on September 16, 2024, to unit holders of record on August 30, 2024. Declared Dividend • Jul 22
Dividend of US$0.07 announced Shareholders will receive a dividend of US$0.07. Ex-date: 31st July 2024 Payment date: 14th August 2024 Dividend yield will be 6.5%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 2.2% EPS growth achieved over the last 5 years. Announcement • Jul 20
Permian Basin Royalty Trust Announces July Cash Distribution, Payable on August 14, 2024 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.070169 per unit, payable on August 14, 2024, to unit holders of record on July 31, 2024. The distribution does not include proceeds from the Waddell Ranch properties for the current month but does include the proceeds from June in the amount of $2,177,289. Buy Or Sell Opportunity • Jul 10
Now 21% overvalued Over the last 90 days, the stock has fallen 4.7% to US$11.78. The fair value is estimated to be US$9.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years. Earnings per share has grown by 45%. Declared Dividend • Jun 19
Dividend of US$0.073 announced Shareholders will receive a dividend of US$0.073. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 6.2%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 2.2% EPS growth achieved over the last 5 years. Announcement • Jun 18
Permian Basin Royalty Trust Announces June Cash Distribution, Payable on July 15, 2024 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.072743 per unit, payable on July 15, 2024, to unit holders of record on June 28, 2024. Declared Dividend • May 23
Dividend of US$0.02 announced Shareholders will receive a dividend of US$0.02. Ex-date: 31st May 2024 Payment date: 14th June 2024 Dividend yield will be 5.2%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 8.2% to bring the payout ratio under control, which is more than the 2.2% EPS growth achieved over the last 5 years. Announcement • May 23
Permian Basin Royalty Trust Announces May Cash Distribution, Payable on June 14, 2024 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.020052 per unit, payable on June 14, 2024, to unit holders of record on May 31, 2024. The distribution does not include proceeds from the Waddell Ranch properties for the reasons described in more detail below. This month's distribution decreased from the previous month due mainly to the omission of proceeds from the Waddell Ranch properties and, for the Texas Royalty Properties, lower volumes produced for the month for both oil and gas, partially offset by higher oil and gas prices for the month reported. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: US$0.12 (vs US$0.10 in 1Q 2023) First quarter 2024 results: EPS: US$0.12 (up from US$0.10 in 1Q 2023). Revenue: US$6.04m (up 16% from 1Q 2023). Net income: US$5.49m (up 16% from 1Q 2023). Profit margin: 91% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 45% per year and the company’s share price has also increased by 45% per year. Declared Dividend • Apr 22
Dividend of US$0.088 announced Shareholders will receive a dividend of US$0.088. Ex-date: 29th April 2024 Payment date: 14th May 2024 Dividend yield will be 5.6%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 1.9% over the last 5 years so the company would need to reverse this trend. Announcement • Apr 20
Permian Basin Royalty Trust Announces April Cash Distribution, Payable on May 14, 2024 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.088214 per unit, payable on May 14, 2024, to unit holders of record on April 30, 2024. Declared Dividend • Mar 20
Dividend of US$0.041 announced Shareholders will receive a dividend of US$0.041. Ex-date: 27th March 2024 Payment date: 12th April 2024 Dividend yield will be 4.3%, which is about the same as the industry average. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 1.9% over the last 5 years so the company would need to reverse this trend. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$13.81, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 9x in the Oil and Gas industry in the US. Total returns to shareholders of 268% over the past three years. Buy Or Sell Opportunity • Mar 05
Now 27% overvalued Over the last 90 days, the stock has fallen 21% to US$12.04. The fair value is estimated to be US$9.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Earnings per share has grown by 55%. Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: US$0.60 (vs US$1.15 in FY 2022) Full year 2023 results: EPS: US$0.60 (down from US$1.15 in FY 2022). Revenue: US$29.1m (down 47% from FY 2022). Net income: US$28.0m (down 48% from FY 2022). Profit margin: 96% (down from 98% in FY 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 21
Upcoming dividend of US$0.045 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 14 March 2024. Trailing yield: 4.4%. Lower than top quartile of American dividend payers (4.7%). In line with average of industry peers (4.4%). Declared Dividend • Feb 19
Dividend of US$0.045 announced Shareholders will receive a dividend of US$0.045. Ex-date: 28th February 2024 Payment date: 14th March 2024 Dividend yield will be 4.4%, which is about the same as the industry average. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control. However, EPS has declined by 1.2% over the last 5 years so the company would need to reverse this trend. Announcement • Feb 16
Permian Basin Royalty Trust Declares February Cash Distribution to the Holders of Its Units of Beneficial Interest, Payable on March 14, 2024 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.045460 per unit, payable on March 14, 2024, to unit holders of record on February 29, 2024. Upcoming Dividend • Dec 21
Upcoming dividend of US$0.11 per share at 3.7% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 16 January 2024. Trailing yield: 3.7%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (4.4%). Upcoming Dividend • Dec 21
Upcoming dividend of US$0.11 per share at 3.7% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 16 January 2024. Trailing yield: 3.7%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (4.4%). Announcement • Dec 20
Permian Basin Royalty Trust Declares December Cash Distribution, Payable on January 16, 2023 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.106232 per unit, payable on January 16, 2023, to unit holders of record on December 29, 2023. Upcoming Dividend • Nov 22
Upcoming dividend of US$0.16 per share at 2.6% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 14 December 2023. Trailing yield: 2.6%. Lower than top quartile of American dividend payers (4.9%). Lower than average of industry peers (4.5%). Announcement • Nov 18
Argent Trust Company Declares Cash Distribution, Payable on December 14, 2023 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.157171 per unit, payable on December 14, 2023, to unit holders of record on November 30, 2023. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: US$0.07 (vs US$0.58 in 3Q 2022) Third quarter 2023 results: EPS: US$0.07 (down from US$0.58 in 3Q 2022). Revenue: US$3.34m (down 88% from 3Q 2022). Net income: US$3.20m (down 88% from 3Q 2022). Profit margin: 96% (down from 100% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$16.10, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 7x in the Oil and Gas industry in the US. Total returns to shareholders of 634% over the past three years. Announcement • Oct 22
Permian Basin Royalty Trust Declares a Cash Distribution, Payable on November 14, 2023 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.042862 per unit, payable on November 14, 2023, to unit holders of record on October 31, 2023. Announcement • Sep 21
Argent Trust Company Declares Monthly Cash Distribution, Payable on October 16, 2023 Argent Trust Company, declared a cash distribution to the holders of its units of beneficial interest of $0.022414 per unit, payable on October 16, 2023, to unit holders of record on September 29, 2023. Announcement • Aug 22
Permian Basin Royalty Trust Declares Cash Distribution for August 2023, Payable on September 15, 2023 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.024535 per unit, payable on September 15, 2023, to unit holders of record on August 31, 2023. This month's distribution increased slightly from the previous month primarily due to a decrease in the pricing of both oil and gas offset by an increase in both oil and gas production on the Texas Royalty Properties for this month. The Waddell Ranch Properties did not contribute to the distribution for the month of June. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: US$0.12 (vs US$0.16 in 2Q 2022) Second quarter 2023 results: EPS: US$0.12 (down from US$0.16 in 2Q 2022). Revenue: US$6.10m (down 20% from 2Q 2022). Net income: US$5.76m (down 22% from 2Q 2022). Profit margin: 95% (down from 96% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 23
Permian Basin Royalty Trust Declares July 2023 Cash Distribution, Payable on August 14, 2023 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared July 2023 cash distribution to the holders of its units of beneficial interest of $0.021749 per unit, payable on August 14, 2023, to unit holders of record on July 31, 2023. This month’s distribution decreased from the previous month primarily due to a decrease in the price of both oil and gas offset by an increase in both oil and gas production on the Waddell Ranch Properties during the month of May. Upcoming Dividend • May 23
Upcoming dividend of US$0.044 per share at 4.7% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 14 June 2023. Trailing yield: 4.7%. Lower than top quartile of American dividend payers (5.1%). In line with average of industry peers (4.8%). Announcement • May 20
Permian Basin Royalty Trust Announces May Cash Distribution, Payable on June 14, 2023 Argent Trust Company, as Trustee of the Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.044388 per unit, payable on June 14, 2023, to unit holders of record on May 31, 2023. This month's distribution increased from the previous month primarily due to an increase in the production of both oil and gas on the Waddell Ranch Properties during the month of March. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: US$0.10 (vs US$0.08 in 1Q 2022) First quarter 2023 results: EPS: US$0.10 (up from US$0.08 in 1Q 2022). Revenue: US$5.22m (up 28% from 1Q 2022). Net income: US$4.74m (up 27% from 1Q 2022). Profit margin: 91% (in line with 1Q 2022). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth.