Avoiding Permian Basin Royalty Trust Until Litigation With Blackbeard Is Resolved [Seeking Alpha]
Permian Basin Royalty Trust (PBT)
US:NYSE Investor Relations:
pbt-permian.com/financial_statements.php
Company Research
Source: Seeking Alpha
Follow Summary Permian Basin Royalty Trust is litigating against Blackbeard over expenses, failure to report production metrics, and timing of monthly payments. Large CAPEX continues to impact monthly distributions. Production growth seems to have slowed. grandriver Besides energy prices, Permian Basin Royalty Trust ( NYSE: PBT ) investors now have to worry about the current hostile relationship with the Waddell Ranch operator, Blackbeard Operating. Blackbeard is not supplying critical monthly metrics for Waddell Ranch and is also not making correct payments according to Argent Trust. The Texas Royalty Properties that are owned by Riverhill Energy don't have any reporting issues. The latest monthly distribution is $0.051902. Until this litigation is resolved, I am giving PBT a neutral/hold recommendation. This is an update to prior PBT articles Data by YCharts While recent results have been disappointing for PBT investors, the total return percent since January 2000 c
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PBT
Sec Filings
- 9/20/24 - Form 8-K
- 8/20/24 - Form 8-K
- 8/8/24 - Form 10-Q
- PBT's page on the SEC website