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Civitas Resources (CIVI) Dips More Than Broader Markets: What You Should Know
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Civitas Resources (CIVI - Free Report) closed at $78.19 in the latest trading session, marking a -1.99% move from the prior day. This change lagged the S&P 500's 1.64% loss on the day. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Heading into today, shares of the oil and gas company had lost 0.75% over the past month, lagging the Oils-Energy sector's gain of 3.68% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Civitas Resources as it approaches its next earnings release. On that day, Civitas Resources is projected to report earnings of $2.30 per share, which would represent a year-over-year decline of 35.39%. Meanwhile, our latest consensus estimate is calling for revenue of $972.02 million, down 3.56% from the prior-year quarter.
CIVI's full-year Zacks Consensus Estimates are calling for earnings of $9.51 per share and revenue of $3.5 billion. These results would represent year-over-year changes of -27.85% and -7.73%, respectively.
Investors might also notice recent changes to analyst estimates for Civitas Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.53% higher. Civitas Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 8.39. This valuation marks a discount compared to its industry's average Forward P/E of 9.24.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Civitas Resources (CIVI) Dips More Than Broader Markets: What You Should Know
Civitas Resources (CIVI - Free Report) closed at $78.19 in the latest trading session, marking a -1.99% move from the prior day. This change lagged the S&P 500's 1.64% loss on the day. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Heading into today, shares of the oil and gas company had lost 0.75% over the past month, lagging the Oils-Energy sector's gain of 3.68% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Civitas Resources as it approaches its next earnings release. On that day, Civitas Resources is projected to report earnings of $2.30 per share, which would represent a year-over-year decline of 35.39%. Meanwhile, our latest consensus estimate is calling for revenue of $972.02 million, down 3.56% from the prior-year quarter.
CIVI's full-year Zacks Consensus Estimates are calling for earnings of $9.51 per share and revenue of $3.5 billion. These results would represent year-over-year changes of -27.85% and -7.73%, respectively.
Investors might also notice recent changes to analyst estimates for Civitas Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.53% higher. Civitas Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 8.39. This valuation marks a discount compared to its industry's average Forward P/E of 9.24.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.