Civitas Resources Inc [CIVI] stock is trading at $70.27, up 0.66%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CIVI shares have gain 3.13% over the last week, with a monthly amount glided 13.82%, and seem to be holding up well over a long-time horizon.
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On 27, February 2024, Civitas Resources, Inc. Announces Share Repurchase From NGP. In a post published today on Yahoo Finance, Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), today announced the execution of a definitive agreement to repurchase approximately 876 thousand shares of its common stock at a price of $64.54 per share from NGP Tap Rock Holdings, LLC and certain of its affiliates (“NGP”). The transaction was approved by the Company’s Board of Directors, and the repurchase is expected to close in early March 2024. Following the transaction, NGP will no longer own any shares of Civitas. NGP’s original ownership in Civitas was established through Civitas’ mid-2023 acquisition of Tap Rock Resources, LLC.
From an analyst’s perspective:
Civitas Resources Inc [NYSE: CIVI] stock has seen the most recent analyst activity on February 07, 2024, when Piper Sandler initiated its Overweight rating and assigned the stock a price target of $92. On January 03, 2024, upgrade upgraded it’s rating to Buy and revised its price target to $86 on the stock. Siebert Williams Shank started tracking the stock assigning a Buy rating and suggested a price target of $106 on September 18, 2023. BMO Capital Markets initiated its recommendation with a Outperform and recommended $95 as its price target on August 31, 2023. Jefferies started tracking with a Buy rating for this stock on August 24, 2023, and assigned it a price target of $87. In a note dated January 10, 2023, Mizuho initiated an Neutral rating and provided a target price of $71 on this stock.
Civitas Resources Inc [CIVI] stock has fluctuated between $55.35 and $83.92 over the past year. Currently, Wall Street analysts expect the stock to reach $92.5 within the next 12 months. Civitas Resources Inc [NYSE: CIVI] shares were valued at $70.27 at the most recent close of the market. An investor can expect a potential return of 31.64% based on the average CIVI price forecast.
Analyzing the CIVI fundamentals
Civitas Resources Inc [NYSE:CIVI] reported sales of 3.48B for the trailing twelve months, which represents a growth of 38.38%. Gross Profit Margin for this corporation currently stands at 0.48% with Operating Profit Margin at 0.8%, Pretax Profit Margin comes in at 0.29%, and Net Profit Margin reading is 0.23%. To continue investigating profitability, this company’s Return on Assets is posted at 0.06, Equity is 0.14 and Total Capital is 0.23. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.8.
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 69.29 points at the first support level, and at 68.32 for the second support level. However, for the 1st resistance point, the stock is sitting at 70.87, and for the 2nd resistance point, it is at 71.48.
Civitas Resources Inc [CIVI] reported earnings per share of $2.2 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.73/share, meaning a difference of -$0.53 and a surprise factor of -19.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $3.66 per share as compared to estimates of $2.7 per share, a difference of $0.96 representing a surprise of 35.60%.
Ratios To Look Out For
For context, Civitas Resources Inc’s Current Ratio is 1.15. Also, the Quick Ratio is 1.15, while the Cash Ratio stands at 0.61. Considering the valuation of this stock, the price to sales ratio is 2.04, the price to book ratio is 1.07 and price to earnings (TTM) ratio is 7.86.
Transactions by insiders
Recent insider trading involved Kimmeridge Energy Management C, 10% Owner, that happened on Jul 19 ’23 when 3.3 million shares were sold. Chief Legal Officer & Sec., Counts Travis L completed a deal on May 05 ’23 to buy 6835.0 shares.
