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Civitas Resources (CIVI) Gains But Lags Market: What You Should Know
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In the latest trading session, Civitas Resources (CIVI - Free Report) closed at $64.82, marking a +0.67% move from the previous day. The stock lagged the S&P 500's daily gain of 2.65%. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 0.24%.
Coming into today, shares of the oil and gas company had gained 3.91% in the past month. In that same time, the Oils-Energy sector lost 4.88%, while the S&P 500 lost 8.99%.
Investors will be hoping for strength from Civitas Resources as it approaches its next earnings release, which is expected to be October 31, 2022. In that report, analysts expect Civitas Resources to post earnings of $3.82 per share. This would mark year-over-year growth of 113.41%. Our most recent consensus estimate is calling for quarterly revenue of $921.1 million, up 384.89% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.30 per share and revenue of $3.62 billion, which would represent changes of +388.05% and +288.76%, respectively, from the prior year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% lower. Civitas Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 4.5. Its industry sports an average Forward P/E of 4.98, so we one might conclude that Civitas Resources is trading at a discount comparatively.
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 31, which puts it in the top 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Civitas Resources (CIVI) Gains But Lags Market: What You Should Know
In the latest trading session, Civitas Resources (CIVI - Free Report) closed at $64.82, marking a +0.67% move from the previous day. The stock lagged the S&P 500's daily gain of 2.65%. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 0.24%.
Coming into today, shares of the oil and gas company had gained 3.91% in the past month. In that same time, the Oils-Energy sector lost 4.88%, while the S&P 500 lost 8.99%.
Investors will be hoping for strength from Civitas Resources as it approaches its next earnings release, which is expected to be October 31, 2022. In that report, analysts expect Civitas Resources to post earnings of $3.82 per share. This would mark year-over-year growth of 113.41%. Our most recent consensus estimate is calling for quarterly revenue of $921.1 million, up 384.89% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.30 per share and revenue of $3.62 billion, which would represent changes of +388.05% and +288.76%, respectively, from the prior year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% lower. Civitas Resources currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 4.5. Its industry sports an average Forward P/E of 4.98, so we one might conclude that Civitas Resources is trading at a discount comparatively.
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 31, which puts it in the top 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.