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Civitas Resources (CIVI) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with Civitas Resources (CIVI - Free Report) standing at $65.91, reflecting a +1.37% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.02%.
Shares of the oil and gas company witnessed a loss of 6.16% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.61% and the S&P 500's gain of 3.52%.
Analysts and investors alike will be keeping a close eye on the performance of Civitas Resources in its upcoming earnings disclosure. On that day, Civitas Resources is projected to report earnings of $3.19 per share, which would represent year-over-year growth of 28.11%. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, up 51.76% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Civitas Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Over the past month, there's been a 11.7% fall in the Zacks Consensus EPS estimate. Civitas Resources is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Civitas Resources is currently exchanging hands at a Forward P/E ratio of 4.75. This valuation marks a discount compared to its industry's average Forward P/E of 7.5.
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 249, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Civitas Resources (CIVI - Free Report) standing at $65.91, reflecting a +1.37% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.08%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.02%.
Shares of the oil and gas company witnessed a loss of 6.16% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.61% and the S&P 500's gain of 3.52%.
Analysts and investors alike will be keeping a close eye on the performance of Civitas Resources in its upcoming earnings disclosure. On that day, Civitas Resources is projected to report earnings of $3.19 per share, which would represent year-over-year growth of 28.11%. Meanwhile, our latest consensus estimate is calling for revenue of $1.24 billion, up 51.76% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Civitas Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Over the past month, there's been a 11.7% fall in the Zacks Consensus EPS estimate. Civitas Resources is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Civitas Resources is currently exchanging hands at a Forward P/E ratio of 4.75. This valuation marks a discount compared to its industry's average Forward P/E of 7.5.
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 249, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.