Wall Street analysts forecast that Civitas Resources (CIVI Quick QuoteCIVI - Free Report) will report quarterly earnings of $1.95 per share in its upcoming release, pointing to a year-over-year decline of 39.1%. It is anticipated that revenues will amount to $1.31 billion, exhibiting an increase of 15.9% compared to the year-ago quarter.

The consensus EPS estimate for the quarter has been revised 6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

Bearing this in mind, let's now explore the average estimates of specific Civitas metrics that are commonly monitored and projected by Wall Street analysts.

Analysts predict that the 'Revenues- Natural Gas' will reach $90.14 million. The estimate indicates a change of +14.3% from the prior-year quarter.

The combined assessment of analysts suggests that 'Revenues- Natural Gas Liquids' will likely reach $164.23 million. The estimate points to a change of +44.4% from the year-ago quarter.

Analysts' assessment points toward 'Revenues- Crude Oil' reaching $1.08 billion. The estimate suggests a change of +16% year over year.

The consensus estimate for 'Avg. Daily Sales Volumes - Crude Oil Equivalent' stands at 352,245.00 BOE/D. Compared to the current estimate, the company reported 278,788 BOE/D in the same quarter of the previous year.

It is projected by analysts that the 'Avg. Daily Sales Volumes - Natural Gas Liquids' will reach 88.45 thousands of barrels of oil. The estimate compares to the year-ago value of 68.88 thousands of barrels of oil.

The consensus among analysts is that 'Avg. Daily Sales Volumes - Natural Gas' will reach 602.07 millions of cubic feet. The estimate compares to the year-ago value of 469.42 millions of cubic feet.

According to the collective judgment of analysts, 'Avg. Daily Sales Volumes - Crude Oil' should come in at 163.96 thousands of barrels of oil. Compared to the current estimate, the company reported 131.67 thousands of barrels of oil in the same quarter of the previous year.

Analysts forecast 'Average sales price - Excluding Derivatives - Crude Oil per Bbl (before)' to reach $69.45. Compared to the present estimate, the company reported $77.04 in the same quarter last year.

The average prediction of analysts places 'Average sales price - Excluding Derivatives - NGL per Bbl (before)' at $20.27. The estimate compares to the year-ago value of $17.94.

The collective assessment of analysts points to an estimated 'Average sales price - Including Derivatives - NGL per Bbl (after)' of $20.01. The estimate compares to the year-ago value of $21.35.

Based on the collective assessment of analysts, 'Average sales price - Including Derivatives - Crude Oil per Bbl (after)' should arrive at $69.47. Compared to the current estimate, the company reported $73.95 in the same quarter of the previous year.

View all Key Company Metrics for Civitas here>>>

Civitas shares have witnessed a change of -6.1% in the past month, in contrast to the Zacks S&P 500 composite's +4.7% move. With a Zacks Rank #3 (Hold), CIVI is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>