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Civitas Resources (CIVI) Stock Sinks As Market Gains: Here's Why
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The latest trading session saw Civitas Resources (CIVI - Free Report) ending at $64.36, denoting a -0.29% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.23% for the day. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 1.7%.
The oil and gas company's shares have seen a decrease of 7.68% over the last month, not keeping up with the Oils-Energy sector's loss of 4.69% and the S&P 500's gain of 0.94%.
The investment community will be paying close attention to the earnings performance of Civitas Resources in its upcoming release. In that report, analysts expect Civitas Resources to post earnings of $3.16 per share. This would mark year-over-year growth of 26.91%. Meanwhile, our latest consensus estimate is calling for revenue of $1.23 billion, up 51.03% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Civitas Resources. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.15% lower. At present, Civitas Resources boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 4.74. This denotes a discount relative to the industry's average Forward P/E of 7.37.
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 244, which puts it in the bottom 4% 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.
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 Sinks As Market Gains: Here's Why
The latest trading session saw Civitas Resources (CIVI - Free Report) ending at $64.36, denoting a -0.29% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.23% for the day. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq gained 1.7%.
The oil and gas company's shares have seen a decrease of 7.68% over the last month, not keeping up with the Oils-Energy sector's loss of 4.69% and the S&P 500's gain of 0.94%.
The investment community will be paying close attention to the earnings performance of Civitas Resources in its upcoming release. In that report, analysts expect Civitas Resources to post earnings of $3.16 per share. This would mark year-over-year growth of 26.91%. Meanwhile, our latest consensus estimate is calling for revenue of $1.23 billion, up 51.03% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Civitas Resources. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.15% lower. At present, Civitas Resources boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Civitas Resources is holding a Forward P/E ratio of 4.74. This denotes a discount relative to the industry's average Forward P/E of 7.37.
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 244, which puts it in the bottom 4% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.