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Civitas Resources (CIVI) Outpaces Stock Market Gains: What You Should Know
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Civitas Resources (CIVI - Free Report) closed the most recent trading day at $81.40, moving +0.95% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the oil and gas company had gained 0.35% in the past month. In that same time, the Oils-Energy sector gained 3.17%, while the S&P 500 lost 2.86%.
Civitas Resources will be looking to display strength as it nears its next earnings release. On that day, Civitas Resources is projected to report earnings of $2.30 per share, which would represent 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.
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.
Investors might also notice recent changes to analyst estimates for Civitas Resources. Recent revisions tend to reflect the latest near-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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Civitas Resources is currently a Zacks Rank #3 (Hold).
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 8.48. For comparison, its industry has an average Forward P/E of 9.4, 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 91, putting it in the top 37% 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.
To follow CIVI in the coming trading sessions, be sure to utilize Zacks.com.
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Civitas Resources (CIVI) Outpaces Stock Market Gains: What You Should Know
Civitas Resources (CIVI - Free Report) closed the most recent trading day at $81.40, moving +0.95% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the oil and gas company had gained 0.35% in the past month. In that same time, the Oils-Energy sector gained 3.17%, while the S&P 500 lost 2.86%.
Civitas Resources will be looking to display strength as it nears its next earnings release. On that day, Civitas Resources is projected to report earnings of $2.30 per share, which would represent 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.
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.
Investors might also notice recent changes to analyst estimates for Civitas Resources. Recent revisions tend to reflect the latest near-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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Civitas Resources is currently a Zacks Rank #3 (Hold).
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 8.48. For comparison, its industry has an average Forward P/E of 9.4, 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 91, putting it in the top 37% 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.
To follow CIVI in the coming trading sessions, be sure to utilize Zacks.com.