Are Civitas Resources Inc. (CIVI) stocks a prudent buy?

A share price of Civitas Resources Inc. [CIVI] is currently trading at $65.07, up 1.80%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The CIVI shares have gain 7.66% over the last week, with a monthly amount glided 15.70%, and seem to be holding up well over a long-time horizon.

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On 3, November 2022, COGCC Commissioners Unanimously Approve Box Elder Comprehensive Area Plan. In a post published today on Yahoo Finance, The Colorado Oil and Gas Conservation Commission (COGCC) today approved Civitas Resources, Inc.’s (NYSE: CIVI) Box Elder Comprehensive Area Plan (CAP), making it Colorado’s first CAP approved with preliminary siting. The CAP framework helps identify and progress a more holistic approach to development plans that enables minimization of traffic, surface impacts, time on-site and emissions.

From an analyst’s perspective:

Civitas Resources Inc. [NYSE: CIVI] stock has seen the most recent analyst activity on January 10, 2023, when Mizuho initiated its Neutral rating and assigned the stock a price target of $71. Previously, Jefferies started tracking the stock with Buy rating on October 19, 2022, and set its price target to $77. On September 20, 2022, KeyBanc Capital Markets initiated with a Overweight rating and assigned a price target of $80 on the stock. MKM Partners started tracking the stock assigning a Buy rating and suggested a price target of $70 on July 20, 2022. Wells Fargo downgraded its rating to a Equal Weight but $67 remained the price target by the analyst firm on July 11, 2022.

Civitas Resources Inc. experienced fluctuations in its stock price throughout the past year between $41.59 and $80.01. Currently, Wall Street analysts expect the stock to reach $77.57 within the next 12 months. Civitas Resources Inc. [NYSE: CIVI] shares were valued at $65.07 at the most recent close of the market. An investor can expect a potential return of 19.21% based on the average CIVI price forecast.

Analyzing the CIVI fundamentals

During the last quarter, Civitas Resources Inc. [NYSE:CIVI] saw sales of 1.01 billion, an improvement of 430.50%. Gross Margin for this corporation currently stands at +54.18% with Operating Margin at +39.57%, Pretax Margin comes in at +27.06%, and Net Margin reading is +19.23%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 63.56 points at the first support level, and at 62.06 for the second support level. However, for the 1st resistance point, the stock is sitting at 66.11, and for the 2nd resistance point, it is at 67.15.

Civitas Resources Inc. [CIVI] reported earnings per share of $4.63 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $3.9/share, meaning a difference of $0.73 and a surprise factor of 18.70%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were $2.51 per share as compared to estimates of $2.43 per share, a difference of $0.08 representing a surprise of 3.30%.

Ratios To Look Out For

A current ratio of 0.90 is a noteworthy aspect of Civitas Resources Inc. [NYSE:CIVI]. Further, the Quick Ratio stands at 0.63, while the Cash Ratio is 0.23. Considering the valuation of this stock, the price to sales ratio is 1.99, the price to book ratio is 0.22 and the P/E (TTM) ratio is 4.74.

Transactions by insiders

Recent insider trading involved Garbiso Sandra, CAO and Treasurer, that happened on Sep 13 when 1900.0 shares were sold. Chief Legal Officer & Sec., Counts Travis L completed a deal on Sep 12 to buy 3556.0 shares. Meanwhile, President & CEO DOYLE M. CHRISTOPHER bought 1.0 shares on Aug 10.