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DENVER - Sitio Royalties Corp (NYSE:STR), a $2.98 billion market cap company specializing in crude petroleum and natural gas, has reported a change in its executive team. The company, which maintains impressive gross profit margins of 92.57% and offers a 5.74% dividend yield, announced that Dawn Smajstrla has stepped down from her role as Chief Accounting Officer as of February 27, 2025. The company stated that Smajstrla’s departure is not due to any disagreements on matters related to the company’s operations, policies, or practices.
In the interim, Carrie Osicka, who currently serves as the company’s Chief Financial Officer, will take on the additional responsibilities of principal accounting officer. Osicka’s compensation will remain unchanged despite the expanded role. Further details about Osicka’s background can be found in the company’s Schedule 14A filed with the SEC on March 29, 2024.
Sitio Royalties Corp plans to finalize a separation agreement with Smajstrla that aligns with the benefits outlined in the company’s Amended & Restated Severance Plan, effective August 6, 2024. This agreement is contingent upon Smajstrla’s execution and non-revocation of a general release of claims. The Severance Plan details were previously disclosed in the company’s Form 10-Q for the quarter ended June 30, 2024.
The company’s recent filing with the Securities and Exchange Commission includes no other significant announcements regarding financial statements or exhibits. The information provided in this article is based on the latest 8-K filing by Sitio Royalties Corp. For comprehensive analysis and additional insights, including 8 more exclusive ProTips and detailed financial metrics, explore the full company profile on InvestingPro.
In other recent news, Sitio Royalties Corp announced its fourth-quarter earnings for 2024, revealing a mixed financial performance. The company reported earnings per share (EPS) of $0.09, which fell short of analyst expectations of $0.1217. However, revenue was a bright spot, reaching $155.09 million and surpassing the forecast of $147.5 million. The company’s operational performance was strong, with adjusted EBITDA increasing by 4% quarter-over-quarter to $141.2 million. Production levels were also noteworthy, averaging nearly 41,000 barrels of oil equivalent per day, a 14% increase from the previous year.
Sitio Royalties returned $330 million to shareholders in 2024, demonstrating a commitment to shareholder value. The company also utilized proprietary technology to capture $19 million in missing revenue payments. Analysts from firms like Taurus Securities have shown interest in Sitio’s acquisition strategy, which included 16 high-value acquisitions in 2024, amounting to $350 million. These acquisitions were immediately accretive to discretionary cash flow per share. Looking ahead, Sitio Royalties projects a total production of approximately 40,000 BOE per day for 2025, with plans to exceed $1 billion in capital returns, supported by a strong acquisition pipeline.
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