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Civitas Resources (CIVI) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Civitas Resources (CIVI - Free Report) closed at $84.25, marking a -0.28% move from the previous day. This change lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the oil and gas company had gained 9.5% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
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 $2.30 per share. This would mark a year-over-year decline of 35.39%. Our most recent consensus estimate is calling for quarterly revenue of $972.02 million, down 3.56% from the year-ago period.
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.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. Civitas Resources is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Civitas Resources currently has a Forward P/E ratio of 8.89. For comparison, its industry has an average Forward P/E of 9.98, 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 group has a Zacks Industry Rank of 191, putting it in the bottom 25% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Civitas Resources (CIVI - Free Report) closed at $84.25, marking a -0.28% move from the previous day. This change lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today's trading, shares of the oil and gas company had gained 9.5% over the past month. This has outpaced the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
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 $2.30 per share. This would mark a year-over-year decline of 35.39%. Our most recent consensus estimate is calling for quarterly revenue of $972.02 million, down 3.56% from the year-ago period.
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.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. Civitas Resources is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Civitas Resources currently has a Forward P/E ratio of 8.89. For comparison, its industry has an average Forward P/E of 9.98, 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 group has a Zacks Industry Rank of 191, putting it in the bottom 25% 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.