Upgrading Sitio Royalties To A Buy Following A 20% Decline In Share Price [Seeking Alpha]
Sitio Royalties Corp. (STR)
US:NYSE Investor Relations:
ir.qepres.com/phoenix.zhtml?c=237732&p=irol-newsarticle&id=1499617
Company Research
Source: Seeking Alpha
These actions will save the company over $20 million annually in interest expenses, which will be used for additional distributions and debt repayment. Strong permitting activity in the DJ basin will provide additional avenues for revenue growth. An 8.5% dividend can be supported at $74/barrel WTI. Following the recent share price decline, I have upgraded STR to a BUY. Thesis Sitio Royalties Corp. ( NYSE: STR ) is an oil-heavy royalty company that has taken several actions to reduce its costs of debt and increase cash flows available to shareholders. The company has refinanced its high interest rate senior notes due in 2026 while also selling off its Anadarko and Marcellus assets to pay down debt. As a result of these actions, the company stands to directly save over $20 million annually in reduced interest expenses. Operationally, the company stands to realize revenue growth from increasing activity in the DJ basin. Permitting activity was strong in Q4 and that momentum
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STR
News
- How to Find Strong Oils-Energy Stocks Slated for Positive Earnings Surprises [Yahoo! Finance]Yahoo! Finance
- Sitio Royalties (STR) Upgraded to Buy: What Does It Mean for the Stock? [Yahoo! Finance]Yahoo! Finance
- Sitio Royalties Schedules First Quarter 2024 Earnings CallBusiness Wire
- 5 Top Stocks Worth a Buy for Solid Earnings Growth [Yahoo! Finance]Yahoo! Finance
- Earnings Estimates Moving Higher for SITIO ROYALTIES (STR): Time to Buy? [Yahoo! Finance]Yahoo! Finance
STR
Earnings
- 11/8/23 - Miss
STR
Sec Filings
- 4/5/24 - Form SC
- 3/29/24 - Form ARS
- 3/29/24 - Form DEF
- STR's page on the SEC website