Sitio Royalties price target lowered to $23 from $27 at Barclays

Barclays lowered the firm’s price target on Sitio Royalties to $23 from $27 and keeps an Underweight rating on the shares. The firm changed estimates in the integrated oil and exploration and production group to reflect a reduction in oil price forecasts of $10 per barrel in 2025 and $5 in 2026. With the recent sector pullback, the risk/rewards are skewed to the upside for stocks as company fundamentals and operational momentum remain solid, the analyst tells investors in a research note.