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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 $82.31, moving +1.12% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.83%.
Prior to today's trading, shares of the oil and gas company had gained 0.15% over the past month. This has lagged the Oils-Energy sector's gain of 5.29% and outpaced the S&P 500's loss of 2.84% in that time.
Civitas Resources will be looking to display strength as it nears 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.
Investors should also note any recent changes to analyst estimates for Civitas Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Civitas Resources is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Civitas Resources currently has a Forward P/E ratio of 8.56. This valuation marks a discount compared to its industry's average Forward P/E of 9.74.
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 98, putting it in the top 39% 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) Outpaces Stock Market Gains: What You Should Know
Civitas Resources (CIVI - Free Report) closed the most recent trading day at $82.31, moving +1.12% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.83%.
Prior to today's trading, shares of the oil and gas company had gained 0.15% over the past month. This has lagged the Oils-Energy sector's gain of 5.29% and outpaced the S&P 500's loss of 2.84% in that time.
Civitas Resources will be looking to display strength as it nears 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.
Investors should also note any recent changes to analyst estimates for Civitas Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Civitas Resources is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Civitas Resources currently has a Forward P/E ratio of 8.56. This valuation marks a discount compared to its industry's average Forward P/E of 9.74.
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 98, putting it in the top 39% 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.