Sitio Royalties (STR) Declares $0.60 Dividend

Sitio Royalties said on March 8, 2023 that its board of directors declared a regular quarterly dividend of $0.60 per share ($2.40 annualized). Previously, the company paid $0.72 per share.

Shares must be purchased before the ex-div date of March 16, 2023 to qualify for the dividend. Shareholders of record as of March 17, 2023 will receive the payment on March 31, 2023.

At the current share price of $24.36 / share, the stock's dividend yield is 9.85%. Looking back five years and taking a sample every week, the average dividend yield has been 28.41%, the lowest has been 6.94%, and the highest has been 108.00%. The standard deviation of yields is 19.01 (n=232).

The current dividend yield is 0.98 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.97. 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 0.02%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 42.96% Upside

As of March 9, 2023, the average one-year price target for Sitio Royalties is $34.83. The forecasts range from a low of $30.30 to a high of $38.85. The average price target represents an increase of 42.96% from its latest reported closing price of $24.36.

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The projected annual revenue for Sitio Royalties is $541MM, an increase of 46.40%. The projected annual non-GAAP EPS is $2.51.

What is the Fund Sentiment?

There are 333 funds or institutions reporting positions in Sitio Royalties. This is an increase of 325 owner(s) or 4,062.50% in the last quarter. The put/call ratio of STR is 0.52, indicating a bullish outlook.

What are Large Shareholders Doing?

Oaktree Capital Management holds 12,935K shares representing 16.01% ownership of the company.

Wellington Management Group Llp holds 5,469K shares representing 6.77% ownership of the company.

Adage Capital Partners Gp, L.l.c. holds 3,691K shares representing 4.57% ownership of the company.

Neuberger Berman Group holds 2,605K shares representing 3.22% ownership of the company.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,231K shares representing 2.76% 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.