STR Stock Recent News

Sitio Royalties has taken steps to reduce debt and increase cash flows, including refinancing high-interest senior notes and selling off assets in the Appalachia and Anadarko Basins. 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.

Sitio Royalties Corp. (NYSE:STR ) Q3 2023 Earnings Call Transcript November 9, 2023 8:30 AM ET Company Participants Ross Wong - VP, Finance and IR Chris Conoscenti - CEO Conference Call Participants Derrick Whitfield - Stifel Noel Parks - Tuohy Brothers Investment Operator Hello, and welcome to the Sitio Royalties Third Quarter 2023 Earnings Call. My name is Alex, I'll be coordinating the call today.

The headline numbers for Sitio Royalties (STR) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Sitio Royalties (STR) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Although the revenue and EPS for Sitio Royalties (STR) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Sitio Royalties (STR) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.39 per share a year ago.

DENVER--(BUSINESS WIRE)--Sitio Royalties Corp. (NYSE: STR) (“Sitio”) today announced that it will report operating and financial results for the second quarter of 2023 on Tuesday, August 8, 2023, after the close of trading on the New York Stock Exchange. Sitio will host a conference call at 8:30 a.m. Eastern on Wednesday, August 9, 2023 to discuss its second quarter 2023 operating and financial results.  Participants can access the call by dialing 1-833-470-1428 in the United States or 1-404-97.

Sitio is now expected to generate around $2.78 per share in free cash flow in 2023 at the current low-$70s WTI strip. At a 65% payout ratio, this would allow it to pay $1.81 per share in dividends while putting approximately $150 million toward debt reduction.

Sitio Royalties (STR) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.32 per share a year ago.

Sitio Royalties Corp. owns mineral and royalty interests in top-tier oil and gas assets across the United States. It's a huge player in the Permian Basin, which Warren Buffett has invested heavily in through his Occidental purchase.