Welcome to our dedicated page for Sitio Royalties news (Ticker: STR), a resource for investors and traders seeking the latest updates and insights on Sitio Royalties stock.
Sitio Royalties Corp. reports developments tied to its oil and gas royalty business, including royalty revenue, production volumes, net wells turned-in-line, cash costs and taxes, and acquisition activity across its mineral and royalty asset base.
Company news also covers quarterly operating previews, earnings releases, guidance updates, dividends and share repurchases, material agreements, shareholder voting matters, and capital-structure changes affecting STR Class A common stock.
Sitio Royalties Corp. (NYSE: STR) has announced its schedule for reporting third quarter 2024 operating and financial results. The company will release its results on Wednesday, November 6, 2024, after the New York Stock Exchange closes. A conference call to discuss the results is scheduled for Thursday, November 7, 2024, at 8:30 a.m. Eastern.
Participants can join the call by dialing 1-833-470-1428 (US) or 1-404-975-4839 (other locations) with access code 296060. A webcast option is also available. The call, webcast, and replay will be accessible through Sitio's Investor Relations website.
Sitio Royalties focuses on consolidating high-quality oil & gas mineral and royalty interests across premium basins. The company has accumulated over 265,000 NRAs through more than 200 acquisitions, aiming to generate cash flow for shareholder returns and reinvestment.
Sitio Royalties (NYSE: STR) announced its Q2 2024 results with a record high average daily production of 39,231 Boe/d (50% oil), an 11% increase from Q1 2024.
The company declared a return of capital of $0.71 per share, comprising a $0.30 cash dividend and $0.41 in stock repurchases. Net income rose to $29 million, a 55% increase from Q1 2024, driven by higher revenues and lower derivative losses. Adjusted EBITDA increased by 12% to $151.6 million.
Sitio also updated its 2024 full-year production guidance to 36,000-38,000 Boe/d, up from 35,000-38,000 Boe/d. The midpoint of cash tax guidance was reduced by $21.5 million. Six acquisitions worth $38.5 million were closed in Q2 2024, adding 2,110 NRAs, primarily in the Permian and DJ Basins.
The company repurchased 2.6 million shares at an average price of $24.50 per share. As of June 30, 2024, Sitio had $1.06 billion in total debt and $406.3 million in liquidity.
Sitio Royalties (NYSE: STR) will report its Q2 2024 operating and financial results on August 7, 2024, after NYSE trading ends. A conference call will follow on August 8, 2024, at 8:30 a.m. Eastern to discuss these results. Investors can join the call via specific phone numbers or a webcast. Pre-registration is available for the event. Sitio Royalties focuses on consolidating high-quality oil and gas mineral and royalty interests, having acquired over 265,000 NRAs through more than 190 acquisitions. Detailed information is accessible on their investor relations website.
Sitio Royalties Corp. (NYSE: STR) reported operational and financial results for the first quarter of 2024, including a record pro forma average daily production volume of 37,970 BOE/D, a return of capital of $0.49 per share, and the acquisition of DJ Basin assets. The company also achieved a net income of $18.7 million, a 3.7% increase in production volume, and closed a unique opportunity to repurchase shares. Sitio continues to evaluate strong mineral acquisition opportunities.
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