Ratios

		vs industry	vs history
P/E(ttm)	17.10	HGT's P/E(ttm) is ranked lower than 76% of the 415 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 0.40 vs. HGT: 17.10 )	HGT' s 10-Year P/E(ttm) Range Min: 3.27   Max: 24.64 Current: 17.1 3.27 24.64
P/B	3.30	HGT's P/B is ranked lower than 83% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 1.32 vs. HGT: 3.30 )	HGT' s 10-Year P/B Range Min: 1.46   Max: 9.55 Current: 3.3 1.46 9.55
P/S	15.91	HGT's P/S is ranked lower than 76% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 3.55 vs. HGT: 15.91 )	HGT' s 10-Year P/S Range Min: 3.25   Max: 24.41 Current: 15.91 3.25 24.41
EV-to-EBIT	17.06	HGT's EV-to-EBIT is ranked lower than 66% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 15.22 vs. HGT: 17.06 )	HGT' s 10-Year EV-to-EBIT Range Min: 3.4   Max: 46 Current: 17.06 3.4 46
Shiller P/E	5.84	HGT's Shiller P/E is ranked lower than 70% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 19.33 vs. HGT: 5.84 )	HGT' s 10-Year Shiller P/E Range Min: 3.47   Max: 21.75 Current: 5.84 3.47 21.75

Dividend & Buy Back

		vs industry	vs history
Dividend Yield	5.89	HGT's Dividend Yield is ranked higher than 93% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 2.86 vs. HGT: 5.89 )	HGT' s 10-Year Dividend Yield Range Min: 4.06   Max: 30.62 Current: 5.89 4.06 30.62
Dividend Payout	1.2	HGT's Dividend Payout is ranked lower than 95% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 0.55 vs. HGT: 1.2 )	HGT' s 10-Year Dividend Payout Range Min: 0.89   Max: 1 Current: 1.2 0.89 1
Dividend growth (3y)	-5.6	HGT's Dividend growth (3y) is ranked lower than 94% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: -10.00 vs. HGT: -5.6 )	HGT' s 10-Year Dividend growth (3y) Range Min: -24.6   Max: 37.2 Current: -5.6 -24.6 37.2
Yield on cost (5-Year)	1.63	HGT's Yield on cost (5-Year) is ranked higher than 92% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 2.54 vs. HGT: 1.63 )	HGT' s 10-Year Yield on cost (5-Year) Range Min: 1.12   Max: 8.45 Current: 1.63 1.12 8.45

Valuation & Return

		vs industry	vs history
Price/Tangible Book	3.4	HGT's Price/Tangible Book is ranked higher than 83% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 1.40 vs. HGT: 3.4 )	HGT' s 10-Year Price/Tangible Book Range Min: 1.9   Max: 8.8 Current: 3.4 1.9 8.8
Price/DCF (Projected)	2	HGT's Price/DCF (Projected) is ranked lower than 70% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 3.10 vs. HGT: 2 )	HGT' s 10-Year Price/DCF (Projected) Range Min: 0.8   Max: 2.4 Current: 2 0.8 2.4
Price/Median PS Value	1.2	HGT's Price/Median PS Value is ranked higher than 70% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 0.80 vs. HGT: 1.2 )	HGT' s 10-Year Price/Median PS Value Range Min: 0.4   Max: 1.8 Current: 1.2 0.4 1.8
Price/Graham Number	1.5	HGT's Price/Graham Number is ranked higher than 92% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 1.00 vs. HGT: 1.5 )	HGT' s 10-Year Price/Graham Number Range Min: 0.7   Max: 2.4 Current: 1.5 0.7 2.4
Earnings Yield (Greenblatt)	5.90	HGT's Earnings Yield (Greenblatt) is ranked higher than 89% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: 5.00 vs. HGT: 5.90 )	HGT' s 10-Year Earnings Yield (Greenblatt) Range Min: 2.2   Max: 29.4 Current: 5.9 2.2 29.4
Forward Rate of Return (Yacktman)	0.75	HGT's Forward Rate of Return (Yacktman) is ranked higher than 91% of the 463 Companies in the Global Oil & Gas E&P industry. ( Industry Median: -17.69 vs. HGT: 0.75 )	HGT' s 10-Year Forward Rate of Return (Yacktman) Range Min: -1   Max: 30.8 Current: 0.75 -1 30.8

Business Description

Hugoton Royalty Trust was created on December 1, 1998 by XTO Energy Inc. Effective on that date, XTO Energy conveyed 80% net profits interests in certain predominantly gas-producing working interest properties in Kansas, Oklahoma and Wyoming to the trust under separate conveyances for each of the three states. The trust's initial public offering was in April 1999. XTO Energy operates approximately 94% of the underlying properties. Natural gas was discovered in the Hugoton area in 1922. With an estimated five million productive acres covering parts of Texas, Oklahoma and Kansas, the Hugoton area is a domestic natural gas producing area. During 2011, daily sales volumes from the underlying properties in the Hugoton area averaged approximately 16,900 Mcf of gas and 81 Bbls of oil. Most of the production from the underlying properties in the Hugoton area is from the Chase formation. XTO Energy has informed the trustee that it plans to develop other formations that underlie the 79,500 net acres held by production by the Chase formation wells, which include the Council Grove, Morrow, Chester and St. Louis formations. These formations are characterized by both oil and gas production from a number of structural and stratigraphic traps. Since 2003, XTO Energy has drilled wells to these formations and plans to continue this development program in 2010. Oil and gas accumulations were discovered in the Anadarko Basin of western Oklahoma in 1945. XTO Energy is a producer in the Ringwood, Northwest Okeene and Cheyenne Valley fields of Major County, the Northeast Cedardale field of Woodward County and the Elk City field of Beckham County, the main producing regions of the underlying properties in the Anadarko Basin. Daily sales volumes from the underlying properties in the Anadarko Basin averaged averaged 26,500 Mcf of gas and 568 Bbls of oil in 2011. The Green River Basin is located in southwestern Wyoming. Natural gas was discovered in the Fontenelle Field of the Green River Basin in the early 1970s. The producing reservoirs are the Frontier, Baxter and Dakota sandstones. XTO Energy sells a considerable portion of natural gas production from the underlying properties to certain of its wholly owned subsidiaries under contracts in existence when the trust was created, generally at amounts approximating monthly published market prices. Most of the production from the Hugoton area is sold under a contract to Timberland Gathering & Processing Company, Inc. (TGPC) based on the index price. Much of the gas production in Major County, Oklahoma is sold to Ringwood Gathering Company (RGC), which retains approximately $0.31 per Mcf as a compression and gathering fee. TGPC and RGC sell gas to Cross Timbers Energy Services, Inc. (CTES), which markets gas to third parties. Bank of America, N.A. is the trustee for the trust. In 2007 the Bank of America private wealth management group officially became known as 'U.S. Trust, Bank of America Private Wealth Man
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Industry:	Oil & Gas E&P
Compare:	MTR, CRT, NGT, LRT, MARPS, SBR, WTU

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