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Civitas Resources (CIVI) Stock Sinks As Market Gains: What You Should Know
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The latest trading session saw Civitas Resources (CIVI - Free Report) ending at $61.87, denoting a -0.56% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 1.3%.
Shares of the oil and gas company witnessed a loss of 3.16% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.51% and the S&P 500's gain of 3.69%.
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's upcoming EPS is projected at $2.92, signifying a 17.27% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.2 billion, up 47.75% from the prior-year quarter.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. 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 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, 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. The Zacks Consensus EPS estimate has moved 5.84% lower within the past month. At present, Civitas Resources boasts a Zacks Rank of #4 (Sell).
In the context of valuation, Civitas Resources is at present trading with a Forward P/E ratio of 4.85. This represents a discount compared to its industry's average Forward P/E of 8.53.
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 242, putting it in the bottom 4% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Civitas Resources (CIVI) Stock Sinks As Market Gains: What You Should Know
The latest trading session saw Civitas Resources (CIVI - Free Report) ending at $61.87, denoting a -0.56% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 1.3%.
Shares of the oil and gas company witnessed a loss of 3.16% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.51% and the S&P 500's gain of 3.69%.
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's upcoming EPS is projected at $2.92, signifying a 17.27% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.2 billion, up 47.75% from the prior-year quarter.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. 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 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, 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. The Zacks Consensus EPS estimate has moved 5.84% lower within the past month. At present, Civitas Resources boasts a Zacks Rank of #4 (Sell).
In the context of valuation, Civitas Resources is at present trading with a Forward P/E ratio of 4.85. This represents a discount compared to its industry's average Forward P/E of 8.53.
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 242, putting it in the bottom 4% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.