Permian Basin Royalty Trust (PBT)
Market Price (2/3/2026): $18.18 | Market Cap: $847.3 MilSector: Energy | Industry: Oil & Gas Storage & Transportation
Permian Basin Royalty Trust (PBT)
Market Price (2/3/2026): $18.18Market Cap: $847.3 MilSector: EnergyIndustry: Oil & Gas Storage & Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 89% | Weak multi-year price returns2Y Excs Rtn is -7.3%, 3Y Excs Rtn is -92% | Expensive valuation multiplesP/SPrice/Sales ratio is 49x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 55x, P/EPrice/Earnings or Price/(Net Income) is 55x |
| Low stock price volatilityVol 12M is 37% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -54%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -19%, Rev Chg QQuarterly Revenue Change % is -14% | |
| Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US Oilfield Technologies. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.3% | |
| Key risksPBT key risks include [1] ongoing litigation with its Waddell Ranch operator, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 89% |
| Low stock price volatilityVol 12M is 37% |
| Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US Oilfield Technologies. |
| Weak multi-year price returns2Y Excs Rtn is -7.3%, 3Y Excs Rtn is -92% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 49x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 55x, P/EPrice/Earnings or Price/(Net Income) is 55x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -54%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -19%, Rev Chg QQuarterly Revenue Change % is -14% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.3% |
| Key risksPBT key risks include [1] ongoing litigation with its Waddell Ranch operator, Show more. |
Qualitative Assessment
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Permian Basin Royalty Trust (PBT) stock has remained largely at the same level since 10/31/2025 because of the following key factors:
1. Unfavorable Crude Oil Price Forecasts for 2026. Analysts projected a decline in crude oil prices for 2026, with West Texas Intermediate (WTI) crude oil forecasted to average $51 per barrel (b) and Brent crude oil at $54-$55/b, representing a significant decrease from prior years' averages. This outlook directly impacts Permian Basin Royalty Trust's revenue, as its income is tied to commodity prices, thus limiting potential for significant stock appreciation.
2. Persistent Excess Cost Position for Waddell Ranch Properties. A substantial portion of the Trust's assets, the Waddell Ranch properties, remained in an "excess cost position" through late 2025. This meant that total production costs from these properties exceeded their gross proceeds for the month of November 2025, preventing any distributions to the Trust from these properties. This ongoing situation constrained the overall distributable income, serving as a drag on the stock's performance.
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1. Unfavorable Crude Oil Price Forecasts for 2026. Analysts projected a decline in crude oil prices for 2026, with West Texas Intermediate (WTI) crude oil forecasted to average $51 per barrel (b) and Brent crude oil at $54-$55/b, representing a significant decrease from prior years' averages. This outlook directly impacts Permian Basin Royalty Trust's revenue, as its income is tied to commodity prices, thus limiting potential for significant stock appreciation.
2. Persistent Excess Cost Position for Waddell Ranch Properties. A substantial portion of the Trust's assets, the Waddell Ranch properties, remained in an "excess cost position" through late 2025. This meant that total production costs from these properties exceeded their gross proceeds for the month of November 2025, preventing any distributions to the Trust from these properties. This ongoing situation constrained the overall distributable income, serving as a drag on the stock's performance.
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Stock Movement Drivers
Fundamental Drivers
The -1.3% change in PBT stock from 10/31/2025 to 2/2/2026 was primarily driven by a -6.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.39 | 18.14 | -1.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18 | 17 | -6.2% |
| Net Income Margin (%) | 89.5% | 88.5% | -1.1% |
| P/E Multiple | 52.0 | 55.3 | 6.4% |
| Shares Outstanding (Mil) | 47 | 47 | 0.0% |
| Cumulative Contribution | -1.3% |
Market Drivers
10/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| PBT | -1.3% | |
| Market (SPY) | 2.0% | 18.1% |
| Sector (XLE) | 13.6% | 48.1% |
Fundamental Drivers
The 37.3% change in PBT stock from 7/31/2025 to 2/2/2026 was primarily driven by a 102.3% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.21 | 18.14 | 37.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 24 | 17 | -28.5% |
| Net Income Margin (%) | 93.3% | 88.5% | -5.1% |
| P/E Multiple | 27.3 | 55.3 | 102.3% |
| Shares Outstanding (Mil) | 47 | 47 | 0.0% |
| Cumulative Contribution | 37.3% |
Market Drivers
7/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| PBT | 37.3% | |
| Market (SPY) | 10.3% | 11.5% |
| Sector (XLE) | 15.8% | 37.5% |
Fundamental Drivers
The 70.4% change in PBT stock from 1/31/2025 to 2/2/2026 was primarily driven by a 304.2% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.64 | 18.14 | 70.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 38 | 17 | -54.2% |
| Net Income Margin (%) | 96.1% | 88.5% | -7.8% |
| P/E Multiple | 13.7 | 55.3 | 304.2% |
| Shares Outstanding (Mil) | 47 | 47 | 0.0% |
| Cumulative Contribution | 70.4% |
Market Drivers
1/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| PBT | 70.4% | |
| Market (SPY) | 16.6% | 33.6% |
| Sector (XLE) | 17.0% | 51.4% |
Fundamental Drivers
The -14.8% change in PBT stock from 1/31/2023 to 2/2/2026 was primarily driven by a -59.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.29 | 18.14 | -14.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 42 | 17 | -59.3% |
| Net Income Margin (%) | 97.8% | 88.5% | -9.5% |
| P/E Multiple | 23.9 | 55.3 | 131.4% |
| Shares Outstanding (Mil) | 47 | 47 | 0.0% |
| Cumulative Contribution | -14.8% |
Market Drivers
1/31/2023 to 2/2/2026| Return | Correlation | |
|---|---|---|
| PBT | -14.8% | |
| Market (SPY) | 77.5% | 26.6% |
| Sector (XLE) | 22.2% | 47.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PBT Return | 218% | 166% | -43% | -17% | 57% | 8% | 580% |
| Peers Return | 63% | 183% | -22% | 22% | -19% | 15% | 307% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| PBT Win Rate | 67% | 58% | 33% | 42% | 50% | 50% | |
| Peers Win Rate | 50% | 75% | 58% | 50% | 31% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PBT Max Drawdown | 0% | 0% | -43% | -22% | -20% | 0% | |
| Peers Max Drawdown | -3% | -7% | -35% | -29% | -25% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TPL, VNOM, CRT, MTR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/2/2026 (YTD)
How Low Can It Go
| Event | PBT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -48.8% | -25.4% |
| % Gain to Breakeven | 95.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -47.4% | -33.9% |
| % Gain to Breakeven | 90.0% | 51.3% |
| Time to Breakeven | 111 days | 148 days |
| 2018 Correction | ||
| % Loss | -65.5% | -19.8% |
| % Gain to Breakeven | 190.1% | 24.7% |
| Time to Breakeven | 760 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -72.1% | -56.8% |
| % Gain to Breakeven | 258.4% | 131.3% |
| Time to Breakeven | 5,159 days | 1,480 days |
Compare to TPL, VNOM, CRT, MTR
In The Past
Permian Basin Royalty Trust's stock fell -48.8% during the 2022 Inflation Shock from a high on 4/10/2023. A -48.8% loss requires a 95.3% gain to breakeven.
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About Permian Basin Royalty Trust (PBT)
Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, Devonian, and Waddell fields located in Crane County, Texas. As of December 31, 2021, the Waddell Ranch properties contained 268 net productive oil wells, 38 net productive gas wells, and 50 net injection wells. The company also holds a 95% net overriding royalty in the Texas Royalty properties, which consist of various producing oil fields, such as Yates, Wasson, Sand Hills, East Texas, Kelly-Snyder, Panhandle Regular, N. Cowden, Todd, Keystone, Kermit, McElroy, Howard-Glasscock, Seminole, and others located in 33 counties in Texas. Its Texas Royalty properties comprised approximately 125 separate royalty interests containing approximately 51,000 net producing acres. Permian Basin Royalty Trust was founded in 1980 and is based in Dallas, Texas.
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It's like a Real Estate Investment Trust (REIT), but instead of owning buildings, it owns a passive interest in specific oil and gas production and distributes that income directly to investors.
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- Cash Distributions from Royalty Interests: The trust distributes income to its unit holders, derived from its overriding royalty interests in oil and natural gas properties located primarily in the Permian Basin.
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Permian Basin Royalty Trust (PBT) is a royalty trust, not an operating company that sells products or services. It holds royalty interests in oil and gas properties and derives its income from royalty payments made by the companies that operate these properties. Therefore, the "major customers" in this context are the operators responsible for the production and sale of oil and natural gas from the underlying properties, who then pay royalties to PBT. Based on PBT's SEC filings, the primary operator responsible for a significant portion of its royalty income is:- XTO Energy Inc. (a subsidiary of Exxon Mobil Corporation, symbol: XOM). XTO Energy operates 100% of the Waddell Ranch Properties and a substantial portion of the Texas Royalty Properties from which Permian Basin Royalty Trust receives its royalty income.
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Permian Basin Royalty Trust (PBT) operates as an express trust and, in its structure, does not have a traditional management team with a Chief Executive Officer (CEO) or Chief Financial Officer (CFO) in the conventional corporate sense. The Trust's assets and operations are managed by a Trustee, which is currently Argent Trust Company. The Trust does not have employees. While PBT does not have a CEO or CFO, key individuals associated with the management of the Trust's affairs through Argent Trust Company include: Jana Egeler, Vice President, Royalty Trust ManagementJana Egeler is a Vice President in Royalty Trust Management at Argent Trust Company, the current Trustee for the Permian Basin Royalty Trust.
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Permian Basin Royalty Trust (PBT) faces several key risks inherent to its structure and the industry in which it operates. The most significant risks include:- Legal Disputes and Operational Control with Operators: A primary risk stems from legal disputes and the trust's limited operational control over the underlying properties. Specifically, ongoing litigation with Blackbeard Operating, LLC, the operator of the Waddell Ranch properties, regarding alleged underpayment of royalties and withheld production data, poses a critical vulnerability. This dispute could delay distributions and erode investor confidence. Furthermore, PBT, as a pass-through trust, has no control over production decisions or cost management by its operators, exacerbating financial stability concerns, particularly regarding high operating costs at the Waddell Ranch properties.
- Volatility of Oil and Gas Prices: The trust's income and, consequently, its distributions are directly tied to the fluctuating prices and production volumes of oil and gas. Significant declines in commodity prices, such as the reported near four-year low in oil prices, directly and negatively impact the trust's revenue and distribution capacity. This inherent sensitivity to market forces makes PBT highly susceptible to cyclical downturns in the energy sector.
- Energy Transition and Long-Term Demand Uncertainty: The long-term outlook for Permian Basin Royalty Trust is subject to the broader energy transition and the uncertain future demand for fossil fuels. While the Permian Basin currently exhibits robust efficiency, the shift towards renewable energy sources and environmental regulations could diminish the long-term value and demand for oil and gas assets, affecting PBT's underlying royalty interests.
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The clear emerging threat for Permian Basin Royalty Trust (PBT) is the accelerating global energy transition away from fossil fuels and towards renewable energy sources.
This macro trend poses several risks:
- Depressed Long-Term Commodity Prices: As renewable energy technologies advance and become more widespread, and as demand-side factors like electric vehicle adoption increase, the long-term demand and price for oil and gas could face significant downward pressure. Since PBT's distributions are directly tied to the sale price of oil and gas produced from its royalty interests, a sustained decline in commodity prices would directly reduce income for unit holders.
- Reduced Investment in Fossil Fuel Production: Operators of the underlying properties (such as ConocoPhillips, through its subsidiary Burlington Resources) are facing increasing pressure to decarbonize and shift capital towards more sustainable energy solutions. This could lead to a reduction in capital allocated to drilling new wells or enhancing recovery in mature fields, like those underlying PBT's royalty interests. Such reduced investment could accelerate the natural decline in production from the underlying assets, thereby shortening the economic life of the trust and diminishing overall distributions.
- Increased Regulatory and Environmental Scrutiny: Governments worldwide are implementing policies to incentivize renewable energy and restrict fossil fuel production. While PBT is a passive trust, these regulations could indirectly impact the operational costs of the underlying wells or the operator's willingness to continue production, ultimately affecting PBT's revenue stream.
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The main products for Permian Basin Royalty Trust (PBT) are oil and natural gas, derived from their royalty interests in properties primarily located in the Permian Basin and other counties in Texas, United States.
The addressable market for these products is the U.S. oil and gas market.
The U.S. oil and gas market size is calculated at approximately USD 1.61 trillion in 2025. This market is projected to reach around USD 2.24 trillion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 3.75% between 2025 and 2034.
Within this broader market, the Permian Basin itself is a significant contributor. In 2024, the Permian Basin accounted for 44% of the U.S. oil & gas market by deployment. It also contributed over 45% of the national crude output in 2024.
Looking specifically at production in the Permian Basin, crude oil output is projected to reach 6.6 million barrels per day (b/d) in 2025. Marketed natural gas production in the Permian Basin is expected to grow to an average of 25.8 billion cubic feet per day (Bcf/d) in 2025.
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Here are the expected drivers of future revenue growth for Permian Basin Royalty Trust (PBT) over the next 2-3 years:- Fluctuations in Oil and Natural Gas Prices: As a royalty trust, PBT's revenue is directly tied to the market prices of crude oil and natural gas. Higher commodity prices translate to increased royalty income, while lower prices have a detrimental effect on its financial performance.
- Production Volume from Underlying Properties: Revenue for PBT is directly dependent on the volume of oil and gas produced from the properties it holds royalty interests in, particularly the Waddell Ranch properties. Any increase in production, potentially through enhanced drilling techniques or new discoveries, could boost its financial performance.
- Reduction in Operating Costs at Waddell Ranch Properties: While not a direct revenue driver, a significant reduction in the operating costs associated with the Waddell Ranch properties could lead to a substantial increase in the Trust's distributable income. This would positively impact the net income available for distribution to unitholders.
- Resolution and Recovery from Litigation: Permian Basin Royalty Trust has initiated a lawsuit to recover over $25 million based on an audit for the years 2020 to 2022, with a trial scheduled for November 17, 2025. A successful outcome in this litigation could provide a significant, albeit non-recurring, increase in funds available to the Trust, impacting its financial results within the next 2-3 years.
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Capital Expenditures
- Capital expenditures for drilling, remedial, and maintenance activities on the Waddell Ranch properties totaled $9.5 million in the first quarter of 2021, compared to $528,000 for the first quarter of 2020.
- The approved capital expenditures budget for the Waddell Ranch properties for 2021 was $88.6 million (gross), with $32.5 million net to the Trust.
- Total capital expenditures for the Waddell Ranch properties in 2020 amounted to $10.4 million (gross).
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 18.14 |
| Mkt Cap | 0.8 |
| Rev LTM | 17 |
| Op Inc LTM | 15 |
| FCF LTM | -867 |
| FCF 3Y Avg | -154 |
| CFO LTM | 685 |
| CFO 3Y Avg | 595 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -27.2% |
| Rev Chg 3Y Avg | -18.4% |
| Rev Chg Q | 17.0% |
| QoQ Delta Rev Chg LTM | 4.0% |
| Op Mgn LTM | 75.8% |
| Op Mgn 3Y Avg | 76.7% |
| QoQ Delta Op Mgn LTM | -1.0% |
| CFO/Rev LTM | 70.3% |
| CFO/Rev 3Y Avg | 72.7% |
| FCF/Rev LTM | -67.6% |
| FCF/Rev 3Y Avg | -2.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.8 |
| P/S | 16.2 |
| P/EBIT | 24.9 |
| P/E | 25.0 |
| P/CFO | 24.5 |
| Total Yield | 4.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -3.1% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 10.7% |
| 3M Rtn | 9.4% |
| 6M Rtn | 6.5% |
| 12M Rtn | -11.7% |
| 3Y Rtn | -14.7% |
| 1M Excs Rtn | 6.8% |
| 3M Excs Rtn | 6.7% |
| 6M Excs Rtn | -3.4% |
| 12M Excs Rtn | -27.6% |
| 3Y Excs Rtn | -91.9% |
Price Behavior
Price Behavior
| Market Price | $18.14 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 12/30/1987 | |
| Distance from 52W High | -10.9% | |
| 50 Days | 200 Days | |
| DMA Price | $17.86 | $15.27 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 1.6% | 18.8% |
| 3M | 1YR | |
| Volatility | 38.4% | 37.3% |
| Downside Capture | 88.88 | 36.98 |
| Upside Capture | 62.83 | 85.35 |
| Correlation (SPY) | 18.5% | 33.8% |
PBT Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.07 | 0.05 | 0.63 | 0.41 | 0.65 | 0.70 |
| Up Beta | -0.26 | -0.31 | -0.33 | 1.64 | 0.69 | 0.67 |
| Down Beta | -0.27 | -0.86 | 0.74 | -0.36 | 0.66 | 0.72 |
| Up Capture | 117% | 76% | 75% | 79% | 80% | 29% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 13 | 19 | 27 | 62 | 129 | 361 |
| Down Capture | -40% | 64% | 90% | -7% | 49% | 94% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 7 | 20 | 32 | 60 | 116 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PBT | |
|---|---|---|---|---|
| PBT | 67.6% | 37.2% | 1.45 | - |
| Sector ETF (XLE) | 13.8% | 25.1% | 0.47 | 51.6% |
| Equity (SPY) | 16.0% | 19.2% | 0.64 | 33.7% |
| Gold (GLD) | 66.9% | 23.7% | 2.11 | 15.1% |
| Commodities (DBC) | 7.0% | 16.3% | 0.23 | 36.2% |
| Real Estate (VNQ) | 2.9% | 16.5% | -0.00 | 30.5% |
| Bitcoin (BTCUSD) | -19.7% | 39.9% | -0.46 | 13.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PBT | |
|---|---|---|---|---|
| PBT | 43.5% | 47.1% | 0.93 | - |
| Sector ETF (XLE) | 24.1% | 26.5% | 0.82 | 50.5% |
| Equity (SPY) | 14.1% | 17.1% | 0.66 | 24.2% |
| Gold (GLD) | 19.9% | 16.6% | 0.97 | 13.2% |
| Commodities (DBC) | 11.4% | 18.9% | 0.49 | 38.3% |
| Real Estate (VNQ) | 4.5% | 18.8% | 0.15 | 18.8% |
| Bitcoin (BTCUSD) | 20.9% | 57.6% | 0.56 | 9.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PBT | |
|---|---|---|---|---|
| PBT | 21.2% | 42.4% | 0.60 | - |
| Sector ETF (XLE) | 10.9% | 29.6% | 0.41 | 50.1% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 29.3% |
| Gold (GLD) | 15.0% | 15.3% | 0.81 | 9.7% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 38.9% |
| Real Estate (VNQ) | 5.8% | 20.8% | 0.25 | 24.1% |
| Bitcoin (BTCUSD) | 71.1% | 66.4% | 1.10 | 8.7% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/17/2025 | -1.2% | -2.3% | -11.0% |
| 8/19/2025 | 3.1% | 5.2% | 16.6% |
| 5/19/2025 | -0.1% | 2.6% | 10.0% |
| 2/18/2025 | 2.3% | -3.9% | -9.7% |
| 11/18/2024 | 1.6% | 0.2% | -12.4% |
| 8/20/2024 | -1.2% | 0.7% | 6.0% |
| 6/4/2024 | -1.7% | 1.9% | -6.8% |
| 3/19/2024 | 3.8% | -7.2% | -16.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 14 | 13 |
| # Negative | 15 | 10 | 11 |
| Median Positive | 2.8% | 3.4% | 10.0% |
| Median Negative | -1.1% | -2.4% | -9.7% |
| Max Positive | 8.2% | 12.9% | 59.8% |
| Max Negative | -4.9% | -9.5% | -16.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/30/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Oliver, Eric L | SoftVest, LP | Buy | 7222025 | 11.49 | 5,000 | 57,450 | 69,686,850 | Form | |
| 2 | Oliver, Eric L | SoftVest, LP | Buy | 7222025 | 11.62 | 22,000 | 255,640 | 70,742,560 | Form | |
| 3 | Oliver, Eric L | SoftVest, LP | Buy | 7222025 | 12.08 | 15,000 | 181,200 | 73,969,464 | Form | |
| 4 | Oliver, Eric L | SoftVest, LP | Buy | 7222025 | 12.11 | 11,241 | 136,129 | 74,289,292 | Form | |
| 5 | Oliver, Eric L | SoftVest, LP | Buy | 7222025 | 11.96 | 4,582 | 54,801 | 73,423,911 | Form |
Industry Resources
External Quote Links
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| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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