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Civitas Resources (CIVI) Gains As Market Dips: What You Should Know
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Civitas Resources (CIVI - Free Report) closed the most recent trading day at $83.91, moving +0.35% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.42%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the oil and gas company had gained 9.14% over the past month. This has outpaced the Oils-Energy sector's gain of 4.17% and the S&P 500's gain of 1.02% in that time.
Wall Street will be looking for positivity from Civitas Resources as it approaches its next earnings report date. The company is expected to report EPS of $2.30, down 35.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $972.02 million, down 3.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.51 per share and revenue of $3.5 billion. These totals would mark changes of -27.85% and -7.73%, respectively, from last year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 8.8. Its industry sports an average Forward P/E of 10.09, 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 group has a Zacks Industry Rank of 207, putting it in the bottom 18% 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.
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Civitas Resources (CIVI) Gains As Market Dips: What You Should Know
Civitas Resources (CIVI - Free Report) closed the most recent trading day at $83.91, moving +0.35% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.42%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the oil and gas company had gained 9.14% over the past month. This has outpaced the Oils-Energy sector's gain of 4.17% and the S&P 500's gain of 1.02% in that time.
Wall Street will be looking for positivity from Civitas Resources as it approaches its next earnings report date. The company is expected to report EPS of $2.30, down 35.39% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $972.02 million, down 3.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.51 per share and revenue of $3.5 billion. These totals would mark changes of -27.85% and -7.73%, respectively, from last year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 8.8. Its industry sports an average Forward P/E of 10.09, 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 group has a Zacks Industry Rank of 207, putting it in the bottom 18% 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.