The stock of Civitas Resources Inc. (NYSE:CIVI) last traded at $72.40, down -1.01% from the previous session.
Data from the available sources indicates that Civitas Resources Inc. (NYSE:CIVI) is covered by 8 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $103.00 and a low of $75.00, we find $84.00. Given the previous closing price of $73.14, this indicates a potential upside of 14.85 percent. CIVI stock price is now 3.98% away from the 50-day moving average and 12.37% away from the 200-day moving average. The market capitalization of the company currently stands at $5.60B.
In total, 1 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $86.29 as their price target over the next twelve months.
With the price target of $71, Mizuho recently initiated with Neutral rating for Civitas Resources Inc. (NYSE: CIVI).
In other news, Kimmeridge Energy Management C, 10% Owner sold 3,296,475 shares of the company’s stock on Jul 19. The stock was sold for $232,401,488 at an average price of $70.50. Upon completion of the transaction, the 10% Owner now directly owns 8,348,022 shares in the company, valued at $604.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 05, Chief Legal Officer & Sec. Counts Travis L bought 6,835 shares of the business’s stock. A total of $466,126 was incurred on buying the stock at an average price of $68.20. This leaves the insider owning 36,799 shares of the company worth $2.66 million. Insiders disposed of 4,970,290 shares of company stock worth roughly $359.85 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CIVI stock. A new stake in Civitas Resources Inc. shares was purchased by AVENTAIL CAPITAL GROUP, LP during the first quarter worth $18,935,000. WELLINGTON MANAGEMENT GROUP LLP invested $17,386,000 in shares of CIVI during the first quarter. In the first quarter, WEDGE CAPITAL MANAGEMENT L L P/NC acquired a new stake in Civitas Resources Inc. valued at approximately $17,120,000. KROEKER KENNETH W acquired a new stake in CIVI for approximately $7,809,000. WALLEYE CAPITAL LLC purchased a new stake in CIVI valued at around $5,709,000 in the second quarter. In total, there are 443 active investors with 104.13% ownership of the company’s stock.
With an opening price of $73.22 on Thursday morning, Civitas Resources Inc. (NYSE: CIVI) set off the trading day. During the past 12 months, Civitas Resources Inc. has had a low of $49.02 and a high of $76.20. According to the stock market information, the enterprise value for the company is $5.96B, which is based on a 4.54 price-to-earnings ratio, a 0.30 price-to-earnings-growth ratio, and a beta of 1.77. The fifty day moving average price for CIVI is $70.16 and a two-hundred day moving average price translates $66.87 for the stock.
The latest earnings results from Civitas Resources Inc. (NYSE: CIVI) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $1.6, missing analysts’ expectations of $1.69 by -0.09. This compares to $5.48 EPS in the same period last year. The net profit margin was 37.40% and return on equity was 26.20% for CIVI. The company reported revenue of $660.53 million for the quarter, compared to $1.15 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -42.63 percent. For the current quarter, analysts expect CIVI to generate $993.88M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/15/2023 were paid a $1.24 dividend. On an annualized basis, this represents a $2.00 dividend and a 2.76% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, CIVI is presently at 39.30%.
Civitas Resources Inc.(CIVI) Company Profile
Civitas Resources, Inc., an exploration and production company, focuses on the acquisition, development, and production of oil and natural gas in the Rocky Mountain region, primarily in the Wattenberg Field of the Denver-Julesburg Basin of Colorado. The company was formerly known as Bonanza Creek Energy, Inc. Civitas Resources, Inc. was founded in 1999 and is based in Denver, Colorado.
