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Civitas Resources (CIVI) Stock Moves -0.08%: What You Should Know
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Civitas Resources (CIVI - Free Report) closed the most recent trading day at $77.22, moving -0.08% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.43%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 2.43%.
Shares of the oil and gas company have depreciated by 4.15% over the course of the past month, underperforming the Oils-Energy sector's loss of 1.51% and the S&P 500's loss of 1.55%.
Market participants will be closely following the financial results of Civitas Resources in its upcoming release. The company plans to announce its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be $2.47, reflecting a 30.62% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1 billion, indicating a 0.51% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.10 per share and a revenue of $3.58 billion, indicating changes of -23.37% and -5.63%, respectively, from the former year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.24% increase. Civitas Resources is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 7.65. Its industry sports an average Forward P/E of 9.53, so one might conclude that Civitas Resources is trading at a discount comparatively.
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 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Civitas Resources (CIVI) Stock Moves -0.08%: What You Should Know
Civitas Resources (CIVI - Free Report) closed the most recent trading day at $77.22, moving -0.08% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.43%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 2.43%.
Shares of the oil and gas company have depreciated by 4.15% over the course of the past month, underperforming the Oils-Energy sector's loss of 1.51% and the S&P 500's loss of 1.55%.
Market participants will be closely following the financial results of Civitas Resources in its upcoming release. The company plans to announce its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be $2.47, reflecting a 30.62% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1 billion, indicating a 0.51% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.10 per share and a revenue of $3.58 billion, indicating changes of -23.37% and -5.63%, respectively, from the former year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.24% increase. Civitas Resources is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 7.65. Its industry sports an average Forward P/E of 9.53, so one might conclude that Civitas Resources is trading at a discount comparatively.
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 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.