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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