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Civitas Resources (CIVI) Rises But Trails Market: What Investors Should Know
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Civitas Resources (CIVI - Free Report) closed at $70.19 in the latest trading session, marking a +0.73% move from the prior day. This move lagged the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.87%, while the tech-heavy Nasdaq added 1.6%.
The oil and gas company's shares have seen a decrease of 16.91% over the last month, not keeping up with the Oils-Energy sector's loss of 5.46% and the S&P 500's loss of 5.17%.
Investors will be eagerly watching for the performance of Civitas Resources in its upcoming earnings disclosure. 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%. At the same time, our most recent consensus estimate is projecting a revenue of $972.02 million, reflecting a 3.56% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.50 per share and revenue of $3.5 billion, indicating changes of -27.92% and -7.73%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Civitas Resources. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.04% lower. Civitas Resources is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Civitas Resources is at present trading with a Forward P/E ratio of 7.33. This valuation marks a discount compared to its industry's average Forward P/E of 8.76.
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 41, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Civitas Resources (CIVI) Rises But Trails Market: What Investors Should Know
Civitas Resources (CIVI - Free Report) closed at $70.19 in the latest trading session, marking a +0.73% move from the prior day. This move lagged the S&P 500's daily gain of 1.18%. Elsewhere, the Dow gained 0.87%, while the tech-heavy Nasdaq added 1.6%.
The oil and gas company's shares have seen a decrease of 16.91% over the last month, not keeping up with the Oils-Energy sector's loss of 5.46% and the S&P 500's loss of 5.17%.
Investors will be eagerly watching for the performance of Civitas Resources in its upcoming earnings disclosure. 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%. At the same time, our most recent consensus estimate is projecting a revenue of $972.02 million, reflecting a 3.56% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.50 per share and revenue of $3.5 billion, indicating changes of -27.92% and -7.73%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Civitas Resources. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.04% lower. Civitas Resources is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Civitas Resources is at present trading with a Forward P/E ratio of 7.33. This valuation marks a discount compared to its industry's average Forward P/E of 8.76.
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 41, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.