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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 at $83.30 in the latest trading session, marking a -1.13% move from the prior day. This change lagged the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 0.96%, and the Nasdaq, a tech-heavy index, added 0.81%.
Prior to today's trading, shares of the oil and gas company had gained 7.86% over the past month. This has outpaced the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 0.19% in that time.
Investors will be hoping for strength from Civitas Resources as it approaches its next earnings release. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $972.02 million, down 3.56% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.51 per share and revenue of $3.5 billion, which would represent changes of -27.85% and -7.73%, respectively, from the prior year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.53% higher. Civitas Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 8.86. This represents a discount compared to its industry's average Forward P/E of 10.02.
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 186, which puts it in the bottom 27% 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.
To follow CIVI in the coming trading sessions, be sure to utilize Zacks.com.
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Civitas Resources (CIVI) Stock Sinks As Market Gains: What You Should Know
Civitas Resources (CIVI - Free Report) closed at $83.30 in the latest trading session, marking a -1.13% move from the prior day. This change lagged the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 0.96%, and the Nasdaq, a tech-heavy index, added 0.81%.
Prior to today's trading, shares of the oil and gas company had gained 7.86% over the past month. This has outpaced the Oils-Energy sector's gain of 2.52% and the S&P 500's gain of 0.19% in that time.
Investors will be hoping for strength from Civitas Resources as it approaches its next earnings release. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $972.02 million, down 3.56% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.51 per share and revenue of $3.5 billion, which would represent changes of -27.85% and -7.73%, respectively, from the prior year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.53% higher. Civitas Resources is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 8.86. This represents a discount compared to its industry's average Forward P/E of 10.02.
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 186, which puts it in the bottom 27% 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.
To follow CIVI in the coming trading sessions, be sure to utilize Zacks.com.