We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Civitas Resources (CIVI) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
Civitas Resources (CIVI - Free Report) closed at $60.98 in the latest trading session, marking a -1.57% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.32%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.2%.
Shares of the oil and gas company witnessed a loss of 7% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 2.12% and the S&P 500's gain of 4.59%.
The upcoming earnings release of Civitas Resources will be of great interest to investors. The company's earnings report is expected on February 27, 2024. The company is predicted to post an EPS of $2.95, indicating a 18.47% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.23 billion, indicating a 50.9% growth compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Civitas Resources. Such recent modifications usually signify the changing landscape of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 15.44% lower. Civitas Resources currently has a Zacks Rank of #4 (Sell).
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 4.81. This valuation marks a discount compared to its industry's average Forward P/E of 8.06.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 248, placing it within the bottom 2% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Civitas Resources (CIVI) Dips More Than Broader Market: What You Should Know
Civitas Resources (CIVI - Free Report) closed at $60.98 in the latest trading session, marking a -1.57% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.32%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.2%.
Shares of the oil and gas company witnessed a loss of 7% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 2.12% and the S&P 500's gain of 4.59%.
The upcoming earnings release of Civitas Resources will be of great interest to investors. The company's earnings report is expected on February 27, 2024. The company is predicted to post an EPS of $2.95, indicating a 18.47% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.23 billion, indicating a 50.9% growth compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Civitas Resources. Such recent modifications usually signify the changing landscape of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 15.44% lower. Civitas Resources currently has a Zacks Rank of #4 (Sell).
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 4.81. This valuation marks a discount compared to its industry's average Forward P/E of 8.06.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 248, placing it within the bottom 2% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.