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Civitas Resources (CIVI) Outperforms Broader Market: What You Need to Know
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Civitas Resources (CIVI - Free Report) closed at $75.43 in the latest trading session, marking a +1.06% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.65%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.48%.
Shares of the oil and gas company witnessed a loss of 3.64% over the previous month, beating the performance of the Oils-Energy sector with its loss of 4.39% and underperforming the S&P 500's loss of 2.79%.
The upcoming earnings release of Civitas Resources will be of great interest to investors. The company's earnings report is expected on November 7, 2023. The company is forecasted to report an EPS of $2.47, showcasing a 30.62% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1 billion, down 0.51% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.10 per share and a revenue of $3.58 billion, demonstrating changes of -23.37% and -5.63%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Civitas Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.24% higher. Right now, Civitas Resources possesses a Zacks Rank of #2 (Buy).
Looking at valuation, Civitas Resources is presently trading at a Forward P/E ratio of 7.39. This expresses a discount compared to the average Forward P/E of 9.19 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 19, finds itself in the top 8% echelons of all 250+ industries.
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.
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) Outperforms Broader Market: What You Need to Know
Civitas Resources (CIVI - Free Report) closed at $75.43 in the latest trading session, marking a +1.06% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.65%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.48%.
Shares of the oil and gas company witnessed a loss of 3.64% over the previous month, beating the performance of the Oils-Energy sector with its loss of 4.39% and underperforming the S&P 500's loss of 2.79%.
The upcoming earnings release of Civitas Resources will be of great interest to investors. The company's earnings report is expected on November 7, 2023. The company is forecasted to report an EPS of $2.47, showcasing a 30.62% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1 billion, down 0.51% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.10 per share and a revenue of $3.58 billion, demonstrating changes of -23.37% and -5.63%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Civitas Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.24% higher. Right now, Civitas Resources possesses a Zacks Rank of #2 (Buy).
Looking at valuation, Civitas Resources is presently trading at a Forward P/E ratio of 7.39. This expresses a discount compared to the average Forward P/E of 9.19 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 19, finds itself in the top 8% echelons of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.