DENVER (AP) — DENVER (AP) — Sitio Royalties Corp. (STR) on Tuesday reported first-quarter profit of $22.7 million.

The Denver-based company said it had net income of 28 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The company posted revenue of $150.8 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $155.9 million.

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