In a report released today, Mark Lear from Piper Sandler maintained a Buy rating on Sitio Royalties (STR – Research Report), with a price target of $28.00. The company’s shares closed yesterday at $23.25.
Lear covers the Energy sector, focusing on stocks such as Civitas Resources, APA, and Vital Energy. According to TipRanks, Lear has an average return of 8.2% and a 60.13% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sitio Royalties with a $28.60 average price target, representing a 23.01% upside. In a report released on April 5, Truist Financial also maintained a Buy rating on the stock with a $32.00 price target.
STR market cap is currently $3.66B and has a P/E ratio of -115.16.
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Sitio Royalties (STR) Company Description:
Sitio Royalties owns and manages high-quality mineral and royalty interests in key basins across the United States. The company leases its mineral holdings to exploration and production (E&P) entities in the oil and gas sector, granting them the rights to explore and extract oil, natural gas, and natural gas liquids from its properties. In exchange, Sitio receives a portion of the proceeds generated from the sales of these commodities.
Read More on STR:
- Barclays starts U.S. Integrated Oil & E&P sector with Positive view
- Sitio Royalties initiated with an Underweight at Barclays
- Sitio Royalties price target raised to $32 from $29 at Truist
- 5 Best Dividend Stocks to Buy in March 2024, According to Analysts
- Sitio Royalties price target raised to $27 from $26 at Piper Sandler
