Sitio Royalties price target raised to $27 from $26 at Piper Sandler

Piper Sandler analyst Mark Lear raised the firm’s price target on Sitio Royalties to $27 from $26 and keeps an Overweight rating on the shares. The analyst updated exploration and production models following the Q4 reports. The firm says gas has been a frequent topic of discussion, and gas-weighted names have responded well to supply curtailments and lower spending and activity levels. Piper’s top picks in the group remain Diamondback Energy (FANG), Permian Resources (PR), Chord Energy (CHRD) and EQT (EQT).