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Why the Market Dipped But Civitas Resources (CIVI) Gained Today
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Civitas Resources (CIVI - Free Report) closed the most recent trading day at $71.38, moving +1.58% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.19% for the day. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.54%.
Heading into today, shares of the oil and gas company had gained 12.94% over the past month, outpacing the Oils-Energy sector's gain of 3.8% and the S&P 500's gain of 3.18% in that time.
Market participants will be closely following the financial results of Civitas Resources in its upcoming release. The company is expected to report EPS of $2.63, up 16.89% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.38 billion, showing a 110.21% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.40 per share and revenue of $5.6 billion. These totals would mark changes of +26.39% and +60.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Civitas Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 11.17% lower within the past month. Civitas Resources is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Civitas Resources is presently trading at a Forward P/E ratio of 6.16. This denotes a discount relative to the industry's average Forward P/E of 10.15.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 220, this industry ranks in the bottom 13% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But Civitas Resources (CIVI) Gained Today
Civitas Resources (CIVI - Free Report) closed the most recent trading day at $71.38, moving +1.58% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.19% for the day. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.54%.
Heading into today, shares of the oil and gas company had gained 12.94% over the past month, outpacing the Oils-Energy sector's gain of 3.8% and the S&P 500's gain of 3.18% in that time.
Market participants will be closely following the financial results of Civitas Resources in its upcoming release. The company is expected to report EPS of $2.63, up 16.89% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.38 billion, showing a 110.21% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.40 per share and revenue of $5.6 billion. These totals would mark changes of +26.39% and +60.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Civitas Resources. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 11.17% lower within the past month. Civitas Resources is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Civitas Resources is presently trading at a Forward P/E ratio of 6.16. This denotes a discount relative to the industry's average Forward P/E of 10.15.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 220, this industry ranks in the bottom 13% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.