Fidelity Management & Research Co has recently announced that it has increased stake in Sitio Royalties Corp. (NYSE:STR) by 11.05%. After grabbing 8.62 million shares, the institutional investor is now in possession of 0.86 million shares of the Energy Company. The new investment brought the stake of investor firm to 10.67% having worth around $202.57 million. Moreover, The Vanguard Group, Inc. increased its share by 1.88 million to have a control over 5.59 million shares. And BlackRock Fund Advisors raised its holdings to 0.39 million shares by acquiring 4.5 million shares or 5.58% of the stake.
Sitio Royalties Corp. (STR) concluded trading on 03/15/23 at a closing price of $20.06, with 2.61 million shares of worth about $52.34 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -19.21% during that period and on Wednesday the price saw a loss of about -8.23%. Currently the company’s common shares owned by public are about 154.52M shares, out of which, 78.27M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the STR stock and their offered price forecasts bring an average price target of $34.14. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $37.00 and could fall to a lowest price of $30.00. The stock’s current price level is 41.24% above of average price target set by the analysts, while a rise to estimated low would result in gain of 33.13% for the stock. However, touching the estimated high of $37.00 would mean a gain of 45.78% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 39 times over the past 12 months. They bought 692,450 shares in 31 of the transactions. In 8 selling transactions, insiders dumped 105,128 shares.
Fidelity Small Cap Value Fund, Fidelity Comwlth. Tr. – Small Cap, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Sitio Royalties Corp. Fidelity Small Cap Value Fund is currently holding 3.55 million shares of worth totaling $83.38 million. The company recently came buying 0.0 shares which brought its stake up to 4.39% of the company’s outstanding shares. Vanguard Total Stock Market Index, after selling 2.23 million shares, have now control over 2.76% of the stake in the company. It holds 3.0 shares of worth $52.46 million.
Sitio Royalties Corp. (NYSE: STR) started trading at $21.11, below -$0.75 from concluding price of the previous day. However, the stock later moved at a day high price of 21.15, or with a loss of -8.23%. Stock saw a price change of -16.10% in past 5 days and over the past one month there was a price change of -25.01%. Year-to-date (YTD), STR shares are showing a performance of -30.47% which decreased to -12.63% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $21.40 but also hit the highest price of $33.65 during that period. The average intraday trading volume for Sitio Royalties Corp. shares is 751.89K. The stock is currently trading -16.72% below its 20-day simple moving average (SMA20), while that difference is down -22.19% for SMA50 and it goes to -25.46% lower than SMA200.
Fidelity Management & Research Co acquired 8.62 million shares of Sitio Royalties Corp. having value of about $202.57 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.86 million shares in the company valued at close to $17191660.72, or have control over 11.05% stake in the company. Holding of mutual funds in the company is about 38.17% while other institutional holders and individual stake holders have control over 39.33% and 0.99% of the stake respectively.
The stock has a current market capitalization of $3.29B and its 3Y-monthly beta is at 1.74. PE ratio of stock for trailing 12 months is 16.90, while it has posted earnings per share of $1.19 in the same period. It has Quick Ratio of 7.30 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for STR, volatility over the week remained 5.38% while standing at 4.00% over the month.
Analysts are in expectations that Sitio Royalties Corp. (STR) stock would likely to be making an EPS of $0.43 in the current quarter, while forecast for next quarter EPS is $0.48 and it is $2.03 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.06 which is $0.67 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.4 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -1.10% while it is estimated to increase by 7.41% in next year. EPS is likely to shrink at an annualized rate of -6.64% for next 5-years, compared to annual growth of 40.90% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Sitio Royalties Corp. (STR)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 7 Wall Street analysts, 5 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by KeyBanc Capital Markets on December 16, 2022 offering an Overweight rating for the stock and assigned a target price of $36 to it.
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