Sitio Royalties downgraded to Sector Weight from Overweight at KeyBanc
The Fly

Sitio Royalties downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc downgraded Sitio Royalties to Sector Weight from Overweight without a price target The firm sees a lack of catalysts for the shares in the near-term given the company’s “stubbornly high leverage and an inferior cash distribution yield.” The analyst says the downgrade is also tactical, with Sitio shares up 11% month-to-date. KeyBanc views the company as an “inferior investment vehicle” relative to peers.

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