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Civitas Resources (CIVI) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Civitas Resources (CIVI - Free Report) closed at $70.29, marking a -1.53% move from the previous day. This change lagged the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.35%, and the Nasdaq, a tech-heavy index, lost 0.3%.
The oil and gas company's shares have seen an increase of 15.37% over the last month, surpassing the Oils-Energy sector's gain of 6.58% and the S&P 500's gain of 4.42%.
The upcoming earnings release of Civitas Resources will be of great interest to investors. 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 $1.37 billion, showing a 109.32% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.54 per share and a revenue of $5.6 billion, indicating changes of +27.94% and +60.96%, respectively, from the former year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.1% lower within the past month. Right now, Civitas Resources possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Civitas Resources has a Forward P/E ratio of 6.19 right now. Its industry sports an average Forward P/E of 10.49, so one might conclude that Civitas Resources is trading at a discount comparatively.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Civitas Resources (CIVI) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Civitas Resources (CIVI - Free Report) closed at $70.29, marking a -1.53% move from the previous day. This change lagged the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.35%, and the Nasdaq, a tech-heavy index, lost 0.3%.
The oil and gas company's shares have seen an increase of 15.37% over the last month, surpassing the Oils-Energy sector's gain of 6.58% and the S&P 500's gain of 4.42%.
The upcoming earnings release of Civitas Resources will be of great interest to investors. 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 $1.37 billion, showing a 109.32% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $11.54 per share and a revenue of $5.6 billion, indicating changes of +27.94% and +60.96%, respectively, from the former year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.1% lower within the past month. Right now, Civitas Resources possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Civitas Resources has a Forward P/E ratio of 6.19 right now. Its industry sports an average Forward P/E of 10.49, so one might conclude that Civitas Resources is trading at a discount comparatively.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.