We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Civitas Resources (CIVI) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Civitas Resources (CIVI - Free Report) closed at $68.76, marking a +0.07% move from the previous day. This move lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the oil and gas company had gained 26.12% over the past month. This has outpaced the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% in that time.
Investors will be hoping for strength from Civitas Resources as it approaches its next earnings release, which is expected to be October 31, 2022. The company is expected to report EPS of $3.64, up 103.35% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $877.95 million, up 362.18% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.96 per share and revenue of $3.6 billion, which would represent changes of +376.45% and +286.43%, respectively, from the prior year.
Investors should also note any 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.
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 2.76% lower. Civitas Resources currently has a Zacks Rank of #3 (Hold).
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 4.92. For comparison, its industry has an average Forward P/E of 5.29, which means Civitas Resources is trading at a discount to the group.
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 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Civitas Resources (CIVI) Gains But Lags Market: What You Should Know
In the latest trading session, Civitas Resources (CIVI - Free Report) closed at $68.76, marking a +0.07% move from the previous day. This move lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the oil and gas company had gained 26.12% over the past month. This has outpaced the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% in that time.
Investors will be hoping for strength from Civitas Resources as it approaches its next earnings release, which is expected to be October 31, 2022. The company is expected to report EPS of $3.64, up 103.35% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $877.95 million, up 362.18% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.96 per share and revenue of $3.6 billion, which would represent changes of +376.45% and +286.43%, respectively, from the prior year.
Investors should also note any 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.
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 2.76% lower. Civitas Resources currently has a Zacks Rank of #3 (Hold).
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 4.92. For comparison, its industry has an average Forward P/E of 5.29, which means Civitas Resources is trading at a discount to the group.
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 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.