RBC Capital Markets Details Sales Desk Presentation Highlights from Freehold Royalties
11:48 AM EDT, 04/15/2024 (MT Newswires) -- RBC Capital Markets on Monday outlined the sales desk presentation highlights from Freehold Royalties (FRU.TO).
According to RBC, Freehold continues to focus on its US growth, bolstered by its recent $115 million acquisition that brought an incremental 600 barrels of oil equivalent per day of royalty volumes online in the Midland and Delaware basins.
Although higher valuations and increased competition have impacted M&A to some degree, RBC said Freehold management aims to retain roughly 40% of cash flow to capitalize on accretive opportunities, while the other 60% is distributed to shareholders through its dividend.