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Civitas Resources (CIVI) Rises Yet Lags Behind Market: Some Facts Worth Knowing
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The latest trading session saw Civitas Resources (CIVI - Free Report) ending at $64.55, denoting a +0.37% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.88%. Meanwhile, the Dow gained 0.54%, and the Nasdaq, a tech-heavy index, added 1.35%.
Prior to today's trading, shares of the oil and gas company had lost 7.11% over the past month. This has lagged the Oils-Energy sector's loss of 3.78% and the S&P 500's gain of 0.64% in that time.
The investment community will be paying close attention to the earnings performance of Civitas Resources in its upcoming release. The company's earnings per share (EPS) are projected to be $3.16, reflecting a 26.91% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.23 billion, up 51.03% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Civitas Resources. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.15% lower. Currently, Civitas Resources is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Civitas Resources is presently trading at a Forward P/E ratio of 4.72. This denotes a discount relative to the industry's average Forward P/E of 7.35.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 244, this industry ranks in the bottom 4% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The latest trading session saw Civitas Resources (CIVI - Free Report) ending at $64.55, denoting a +0.37% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.88%. Meanwhile, the Dow gained 0.54%, and the Nasdaq, a tech-heavy index, added 1.35%.
Prior to today's trading, shares of the oil and gas company had lost 7.11% over the past month. This has lagged the Oils-Energy sector's loss of 3.78% and the S&P 500's gain of 0.64% in that time.
The investment community will be paying close attention to the earnings performance of Civitas Resources in its upcoming release. The company's earnings per share (EPS) are projected to be $3.16, reflecting a 26.91% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.23 billion, up 51.03% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Civitas Resources. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.15% lower. Currently, Civitas Resources is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Civitas Resources is presently trading at a Forward P/E ratio of 4.72. This denotes a discount relative to the industry's average Forward P/E of 7.35.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 244, this industry ranks in the bottom 4% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.