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Civitas Resources (CIVI) Stock Sinks As Market Gains: What You Should Know
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Civitas Resources (CIVI - Free Report) closed the most recent trading day at $72.14, moving -0.47% from the previous trading session. This move lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Coming into today, shares of the oil and gas company had gained 2.49% in the past month. In that same time, the Oils-Energy sector gained 1%, while the S&P 500 gained 3.34%.
Wall Street will be looking for positivity from Civitas Resources as it approaches its next earnings report date. In that report, analysts expect Civitas Resources to post earnings of $2 per share. This would mark a year-over-year decline of 56.8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $652.95 million, down 43.29% from the year-ago period.
CIVI's full-year Zacks Consensus Estimates are calling for earnings of $11.67 per share and revenue of $3.56 billion. These results would represent year-over-year changes of -11.46% and -6.09%, respectively.
Investors should also note any recent changes to analyst estimates for Civitas Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 16.55% higher within the past month. Civitas Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 6.21. This valuation marks a discount compared to its industry's average Forward P/E of 7.9.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Stock Sinks As Market Gains: What You Should Know
Civitas Resources (CIVI - Free Report) closed the most recent trading day at $72.14, moving -0.47% from the previous trading session. This move lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Coming into today, shares of the oil and gas company had gained 2.49% in the past month. In that same time, the Oils-Energy sector gained 1%, while the S&P 500 gained 3.34%.
Wall Street will be looking for positivity from Civitas Resources as it approaches its next earnings report date. In that report, analysts expect Civitas Resources to post earnings of $2 per share. This would mark a year-over-year decline of 56.8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $652.95 million, down 43.29% from the year-ago period.
CIVI's full-year Zacks Consensus Estimates are calling for earnings of $11.67 per share and revenue of $3.56 billion. These results would represent year-over-year changes of -11.46% and -6.09%, respectively.
Investors should also note any recent changes to analyst estimates for Civitas Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 16.55% higher within the past month. Civitas Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 6.21. This valuation marks a discount compared to its industry's average Forward P/E of 7.9.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.