Sitio Royalties Corp - (STR) Declares $0.50 Dividend
Sitio Royalties Corp - said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Previously, the company paid $0.60 per share.
Shares must be purchased before the ex-div date of May 18, 2023 to qualify for the dividend. Shareholders of record as of May 19, 2023 will receive the payment on May 31, 2023.
At the current share price of $25.90 / share, the stock's dividend yield is 7.72%.
Looking back five years and taking a sample every week, the average dividend yield has been 27.64%, the lowest has been 6.94%, and the highest has been 108.00%. The standard deviation of yields is 19.25 (n=235).
The current dividend yield is 1.03 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 4.50%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 439 funds or institutions reporting positions in Sitio Royalties Corp -. This is an increase of 360 owner(s) or 455.70% in the last quarter. Average portfolio weight of all funds dedicated to STR is 0.33%, an increase of 1,076.02%. Total shares owned by institutions increased in the last three months by 1,601.95% to 83,934K shares. 
The put/call ratio of STR is 0.53, indicating a bullish outlook.
Analyst Price Forecast Suggests 33.90% Upside
As of May 11, 2023, the average one-year price target for Sitio Royalties Corp - is 34.68. The forecasts range from a low of 30.30 to a high of $38.85. The average price target represents an increase of 33.90% from its latest reported closing price of 25.90.
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The projected annual revenue for Sitio Royalties Corp - is 541MM, an increase of 19.17%. The projected annual non-GAAP EPS is 2.51.
What are Other Shareholders Doing?
Oaktree Capital Management holds 12,935K shares representing 16.13% ownership of the company.
Wellington Management Group Llp holds 5,469K shares representing 6.82% ownership of the company.
Adage Capital Partners Gp, L.l.c. holds 3,691K shares representing 4.60% ownership of the company.
FCPVX - Fidelity Small Cap Value Fund holds 3,546K shares representing 4.42% ownership of the company.
Neuberger Berman Group holds 2,605K shares representing 3.25% ownership of the company.
Sitio Royalties Background Information
(This description is provided by the company.)
Falcon Minerals Corporation is a C-Corporation formed to own and acquire high growth oil-weighted mineral rights. Falcon Minerals owns mineral, royalty, and over-riding royalty interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas. The Company also owns approximately 80,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio, and West Virginia.
This story originally appeared on Fintel.