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Civitas Resources Inc. (NYSE:CIVI) Is Up 8.16 Percent Over The Past 30 Days: What’s Next?

In last trading session, Civitas Resources Inc. (NYSE:CIVI) saw 10.83 million shares changing hands with its beta currently measuring 1.75. Company’s recent per share price level of $83.24 trading at -$0.06 or -0.07% at ring of the bell on the day assigns it a market valuation of $7.68B. That closing price of CIVI’s stock is at a discount of -2.47% from its 52-week high price of $85.30 and is indicating a premium of 41.98% from its 52-week low price of $48.30. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.34 million shares which gives us an average trading volume of 916.97K if we extend that period to 3-months.

For Civitas Resources Inc. (CIVI), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 9 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 7 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $2.32 in the current quarter.

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Civitas Resources Inc. (NYSE:CIVI) trade information

Upright in the red during last session for losing -0.07%, in the last five days CIVI remained trading in the red while hitting it’s week-highest on Monday, 09/11/23 when the stock touched $83.24 price level, adding 3.86% to its value on the day. Civitas Resources Inc.’s shares saw a change of 53.09% in year-to-date performance and have moved -0.89% in past 5-day. Civitas Resources Inc. (NYSE:CIVI) showed a performance of 8.16% in past 30-days. Number of shares sold short was 4.99 million shares which calculate 7.12 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $92.22 to the stock, which implies a rise of 9.74% to its current value. Analysts have been projecting $75.00 as a low price target for the stock while placing it at a high target of $107.00. It follows that stock’s current price would drop -28.54% in reaching the projected high whereas dropping to the targeted low would mean a gain of 9.9% for stock’s current value.

Civitas Resources Inc. (CIVI) estimates and forecasts

Statistics highlight that Civitas Resources Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 34.26% of value to its shares in past 6 months, showing an annual growth rate of -27.85% while that of industry is -31.00. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -34.80% in the current quarter and calculating 28.90% increase in the next quarter. This year revenue growth is estimated to fall -7.60% from the last financial year’s standing.

7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $969.59 million for the same. And 7 analysts are in estimates of company making revenue of $1.21 billion in the next quarter that will end on Dec 2023. Company posted $850.39 million and $814.27 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 14.00% while estimating it to be 49.10% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 164.00% during past 5 years. In 2023, company’s earnings growth rate is likely to be around 207.60% while estimates for its earnings growth in next 5 years are of 15.00%.

CIVI Dividends

Civitas Resources Inc. is more likely to be releasing its next quarterly report between October 30 and November 03 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Civitas Resources Inc. (NYSE:CIVI)’s Major holders

Insiders are in possession of 0.95% of company’s total shares while institution are holding 104.13 percent of that, with stock having share float percentage of 105.13%. Investors also watch the number of corporate investors in a company very closely, which is 104.13% institutions for Civitas Resources Inc. that are currently holding shares of the company. Canada Pension Plan Investment Board is the top institutional holder at CIVI for having 16.48 million shares of worth $1.37 billion. And as of Jun 29, 2023, it was holding 17.58% of the company’s outstanding shares.

The second largest institutional holder is Kimmeridge Energy Management Company, LLC, which was holding about 11.64 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 12.42% of outstanding shares, having a total worth of $969.29 million.

On the other hand, iShares Core S&P Smallcap ETF and Fidelity Low-Priced Stock Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 3.46 million shares of worth $287.74 million or 3.69% of the total outstanding shares. The later fund manager was in possession of 2.88 million shares on Jun 29, 2023, making its stake of worth around $240.08 million in the company or a holder of 3.08% of company’s stock.

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