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Civitas Resources (CIVI) Laps the Stock Market: Here's Why
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The most recent trading session ended with Civitas Resources (CIVI - Free Report) standing at $66.61, reflecting a +0.86% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.1%.
Shares of the oil and gas company witnessed a loss of 2.22% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 1.79% and the S&P 500's gain of 2.75%.
Market participants will be closely following the financial results of Civitas Resources in its upcoming release. The company is predicted to post an EPS of $3.38, indicating a 35.74% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.26 billion, up 54.46% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Civitas Resources. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
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 past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Civitas Resources possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Civitas Resources has a Forward P/E ratio of 4.26 right now. This signifies a discount in comparison to the average Forward P/E of 7.11 for its industry.
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 240, which puts it in the bottom 5% 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.
To follow CIVI in the coming trading sessions, be sure to utilize Zacks.com.
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Civitas Resources (CIVI) Laps the Stock Market: Here's Why
The most recent trading session ended with Civitas Resources (CIVI - Free Report) standing at $66.61, reflecting a +0.86% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.1%.
Shares of the oil and gas company witnessed a loss of 2.22% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 1.79% and the S&P 500's gain of 2.75%.
Market participants will be closely following the financial results of Civitas Resources in its upcoming release. The company is predicted to post an EPS of $3.38, indicating a 35.74% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.26 billion, up 54.46% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Civitas Resources. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
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 past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Civitas Resources possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Civitas Resources has a Forward P/E ratio of 4.26 right now. This signifies a discount in comparison to the average Forward P/E of 7.11 for its industry.
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 240, which puts it in the bottom 5% 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.
To follow CIVI in the coming trading sessions, be sure to utilize Zacks.com.