Sitio Royalties Stock Price, News & Analysis

Sitio Royalties Corp. (NYSE: STR) reported a 4Q 2022 average daily production volume of 18,925 Boe/d, marking a 5% sequential increase. Pro forma production, including Brigham Minerals, reached 34,424 Boe/d. The company declared a $0.60 per share dividend, yielding 9.9% annualized based on a share price of $24.23 on March 7, 2023. Net income fell 93% sequentially to $4.6 million, primarily due to higher transaction expenses from the Brigham merger. Adjusted EBITDA decreased 12% to $93.1 million. The company increased its 2023 production guidance midpoint by 6% to 35,500 Boe/d.

Sitio Royalties Corp. (NYSE: STR) announced it will release its fourth quarter 2022 operating and financial results on March 8, 2023, after market close. A conference call to discuss these results will occur on March 9, 2023, at 8:30 a.m. Eastern Time. Participants can join the call by dialing in or via a webcast linked on the company's website. Sitio, focused on consolidating oil and gas mineral and royalty interests, has completed over 185 acquisitions to amass more than 260,000 NRAs. The firm aims to generate cash flow for shareholder returns and reinvestment.

Sitio Royalties Corp. (NYSE: STR) has completed its merger with Brigham Minerals, Inc., forming a leading company in the mineral and royalty sector. This strategic union consolidates high-quality assets primarily in the Permian Basin, creating a robust portfolio of oil and gas interests. Sitio aims to enhance shareholder returns through large-scale consolidation and operational cash flow generation. The merger is expected to bolster the company's market position and operational capabilities.

Sitio Royalties Corp. (NYSE: STR) announced a record average daily production of 17,990 Boe/d and a pro forma production of 18,571 Boe/d for Q3 2022. Despite a 14% drop in realized commodity prices, the company declared a $0.72 dividend per share, reflecting a sequential increase. Net income was $69 million, down 4% sequentially, while cash flow from operations surged 89% to $82.6 million. Additionally, Sitio closed on a significant acquisition of over 12,200 net royalty acres and announced a merger with Brigham Minerals, aiming to enhance its operational scale and shareholder value.

Sitio Royalties Corp. (NYSE: STR) is set to announce its Q3 2022 operating and financial results on November 8, 2022, after market close. A conference call will follow on November 9, 2022, at 8:30 a.m. Eastern, for discussion of the results. Participants may join via phone or webcast. Sitio focuses on consolidating oil and gas mineral and royalty interests, boasting over 173,000 net royalty acres through more than 180 acquisitions. The company aims to generate cash flow for shareholders and reinvestment.

Sitio Royalties Corp. (NYSE: STR) and Brigham Minerals, Inc. (NYSE: MNRL) have agreed to merge in an all-stock transaction valued at approximately $4.8 billion. This merger aims to create a leading entity in the mineral and royalty sector with significant assets in the Permian Basin and other U.S. oil areas. The combined company will have 259,510 net royalty acres and projected annual cost synergies of $15 million. Shareholders will receive 54% and 46% ownership, respectively. The merger is expected to close in Q1 2023, pending regulatory approval and shareholder votes.

Sitio Royalties Corp. (NYSE: STR) reported strong operational and financial results for Q2 2022, achieving an average daily production of 12,402 Boe/d, a 9% increase from Q1. The net income soared to $72 million, reflecting an 87% sequential growth. Adjusted EBITDA increased by 29% to $76.7 million. The company declared a dividend of $0.71 per Class A share, with a yield of 10.3%. Sitio enhanced its asset footprint by 65%, reaching 173,800 net royalty acres after closing mergers and acquisitions, including Falcon Minerals.

Sitio Royalties Corp. (NYSE: STR) has finalized its acquisition of over 12,200 net royalty acres in the Permian Basin from Momentum Minerals. The $191 million transaction follows a $22 million deposit made in June 2022. Funding for the acquisition was sourced from a $175 million draw on Sitio's 364-day unsecured term loan, alongside borrowings from its revolving credit facility and available cash. Post-acquisition, Sitio has a total of $425 million drawn on its term loan, continuing its strategy of consolidating oil and gas mineral interests to enhance shareholder returns.

Sitio Royalties Corp. (NYSE: STR) will report its Q2 2022 operating and financial results on August 8, 2022, after market close. A conference call is scheduled for August 9, 2022, at 8:30 a.m. ET, to discuss the results. Participants can join via phone or webcast. Sitio focuses on consolidating high-quality oil and gas mineral and royalty interests, having amassed over 173,000 net royalty acres through over 180 acquisitions. Their operations aim to generate cash flow for shareholder returns and reinvestment.