Sitio Royalties (STR) Update - Mar 14

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Sitio Royalties (STR) Update - Mar 14

Post by dan_s »

I just posted my updated profile and forecast model for STR to the EPG website.

The company has grown rapidly via acquisitions and it is built to generate solid dividends.

Sitio Royalties (NYSE: STR) is one of four minerals companies in our High Yield Income Portfolio. Brigham Minerals Inc. (MNRL) merged into STR in a deal that closed 12-29-2022, increasing production from 18,925 Boepd in Q4 to ~34,500 Boepd in Q1 2023.

STR is a C-Corp. which pays quarterly dividends. Based on the Company’s recently updated guidance and dividend policy, I am estimating that 2023 dividends will total $2.11 per share, which would be an annualized yield of ~9.6% based on STR’s closing price of $22.07 on March 13, 2023.
Dan Steffens
Energy Prospectus Group
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