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Permian Basin Royalty 




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Permian Basin Royalty Trust Remains A Sell Because Production Gains Have Slowed

Permian Basin Royalty Trust (NYSE:PBT) has dropped more than 20% since my April sell recommendation article, and I still consider it a sell. Production at the Waddell Ranch has been somewhat disappointing given very high capex over the last 2-3 years. Oil and natural gas production is being sold at prices that are lower than last year, and PBT investors are being negatively impacted because the trust can't hedge against lower prices. This trust, which has effectively become an E&P energy company, is a risky way to invest in the energy industry.

seekingalpha.com     Oct 02, 2023