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Civitas Resources (CIVI) Gains As Market Dips: What You Should Know
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Civitas Resources (CIVI - Free Report) closed the most recent trading day at $83.86, moving +0.25% from the previous trading session. This change outpaced the S&P 500's 0.32% loss on the day. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.
Prior to today's trading, shares of the oil and gas company had gained 7.44% over the past month. This has outpaced the Oils-Energy sector's gain of 4.35% and the S&P 500's loss of 0.12% in that time.
Wall Street will be looking for positivity from Civitas Resources as it approaches its next earnings report date. The company is expected to report EPS of $2.30, down 35.39% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $972.02 million, down 3.56% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.51 per share and revenue of $3.5 billion, which would represent changes of -27.85% and -7.73%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. Civitas Resources is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 8.8. This valuation marks a discount compared to its industry's average Forward P/E of 10.06.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% of all 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.
To follow CIVI in the coming trading sessions, be sure to utilize Zacks.com.
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Civitas Resources (CIVI) Gains As Market Dips: What You Should Know
Civitas Resources (CIVI - Free Report) closed the most recent trading day at $83.86, moving +0.25% from the previous trading session. This change outpaced the S&P 500's 0.32% loss on the day. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.89%.
Prior to today's trading, shares of the oil and gas company had gained 7.44% over the past month. This has outpaced the Oils-Energy sector's gain of 4.35% and the S&P 500's loss of 0.12% in that time.
Wall Street will be looking for positivity from Civitas Resources as it approaches its next earnings report date. The company is expected to report EPS of $2.30, down 35.39% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $972.02 million, down 3.56% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.51 per share and revenue of $3.5 billion, which would represent changes of -27.85% and -7.73%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. Civitas Resources is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Civitas Resources's current valuation metrics, including its Forward P/E ratio of 8.8. This valuation marks a discount compared to its industry's average Forward P/E of 10.06.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% of all 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.
To follow CIVI in the coming trading sessions, be sure to utilize Zacks.com.