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. (STR) is a dedicated mineral and royalty company that concentrates on investing in mineral and royalty interests within the Permian Basin and other prolific U.S. oil regions. As a pure-play entity, Sitio Royalties Corp. offers a streamlined approach to capitalizing on the robust potential of these high-yield areas.
The company has built a significant portfolio of investments, targeting key oil-producing zones renowned for their extensive and productive hydrocarbon reserves. Sitio Royalties Corp. leverages its expertise in mineral and royalty management to optimize returns and ensure the sustainable growth of its assets.
Recent achievements include the strategic acquisition of various mineral interests, which have amplified its footprint in the Permian Basin. These acquisitions not only boost the company’s asset base but also enhance its revenue streams through increased royalty income from oil and gas production.
Currently, Sitio Royalties Corp. is engaged in several high-profile projects aimed at further expanding its holdings and maximizing the value of its existing portfolio. The company’s financial condition reflects robust health, supported by a diversified investment strategy and a focus on high-quality, low-risk assets. Strategic partnerships with industry-leading operators add another layer of strength, facilitating access to superior development opportunities and technological advancements.
For investors, Sitio Royalties Corp. represents a stable and lucrative opportunity to gain exposure to the oil and gas sector via mineral and royalty interests. The company’s commitment to operational excellence and strategic growth ensures it remains a significant player in the industry.
Sitio Royalties reported strong Q3 2024 operational and financial results, exceeding production guidance with 38,585 Boe/d. The company achieved a net income of $27.9 million and Adjusted EBITDA of $135.4 million. Long-term debt was reduced by approximately $56.5 million, and $0.47 per share was returned to shareholders, comprising dividends and stock repurchases. Recent acquisitions bolstered the 2024 outlook, with line of sight wells increasing by 11% QoQ. Sitio’s diverse asset base and robust operator activity in the Permian and DJ Basins contributed to the positive performance. The company’s liquidity stood at $455.5 million, with a credit facility balance of $403.0 million. Average realized commodity prices were $41.65 per Boe unhedged and $42.85 per Boe hedged. The company repurchased 1.4 million shares at an average price of $21.47 per share. Sitio’s updated 2024 guidance raised the midpoint of average daily production by 1,000 Boe/d, reflecting strong legacy production and acquisitions.
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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