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Here's Why Civitas Resources (CIVI) Gained But Lagged the Market Today
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The most recent trading session ended with Civitas Resources (CIVI - Free Report) standing at $75.29, reflecting a +0.07% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.32%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.2%.
Coming into today, shares of the oil and gas company had gained 18.79% in the past month. In that same time, the Oils-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
Analysts and investors alike will be keeping a close eye on the performance of Civitas Resources in its upcoming earnings disclosure. On that day, Civitas Resources is projected to report earnings of $2.49 per share, which would represent year-over-year growth of 10.67%. At the same time, our most recent consensus estimate is projecting a revenue of $1.36 billion, reflecting a 107.98% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.54 per share and revenue of $5.6 billion, which would represent changes of +27.94% and +61.01%, respectively, from the prior year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.07% lower. Currently, Civitas Resources is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Civitas Resources is currently being traded at a Forward P/E ratio of 6.52. This valuation marks a discount compared to its industry's average Forward P/E of 10.94.
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 214, placing it within the bottom 16% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why Civitas Resources (CIVI) Gained But Lagged the Market Today
The most recent trading session ended with Civitas Resources (CIVI - Free Report) standing at $75.29, reflecting a +0.07% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.32%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.2%.
Coming into today, shares of the oil and gas company had gained 18.79% in the past month. In that same time, the Oils-Energy sector gained 6.39%, while the S&P 500 gained 5.11%.
Analysts and investors alike will be keeping a close eye on the performance of Civitas Resources in its upcoming earnings disclosure. On that day, Civitas Resources is projected to report earnings of $2.49 per share, which would represent year-over-year growth of 10.67%. At the same time, our most recent consensus estimate is projecting a revenue of $1.36 billion, reflecting a 107.98% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.54 per share and revenue of $5.6 billion, which would represent changes of +27.94% and +61.01%, respectively, from the prior year.
Any recent changes to analyst estimates for Civitas Resources should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.07% lower. Currently, Civitas Resources is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Civitas Resources is currently being traded at a Forward P/E ratio of 6.52. This valuation marks a discount compared to its industry's average Forward P/E of 10.94.
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 214, placing it within the bottom 16% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.