Civitas Resources Inc (CIVI) Stock Could Soon Reward Patient Investors

Civitas Resources Inc (NYSE: CIVI) is -6.58% lower on its value in year-to-date trading and has touched a low of $55.35 and a high of $83.92 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CIVI stock was last observed hovering at around $61.74 in the last trading session, with the day’s gains setting it 2.14%.

Currently trading at $63.88, the stock is -0.40% and -3.65% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.35 million and changing 3.47% at the moment leaves the stock -8.71% off its SMA200. CIVI registered 9.44% gain for a year compared to 6-month loss of -16.03%. The firm has a 50-day simple moving average (SMA 50) of $3.23 and a 200-day simple moving average (SMA200) of $4.98.

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The stock witnessed a -1.75% gain in the last 1 month and extending the period to 3 months gives it a -3.95%, and is 4.76% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.30% over the week and 2.58% over the month.

Civitas Resources Inc (CIVI) has around Dec 14 2023 employees, a market worth around $5.99B and $3.17B in sales. Current P/E ratio is 7.08 and Fwd P/E is 5.30. Profit margin for the company is 24.10%. Distance from 52-week low is 15.41% and -23.88% from its 52-week high. The company has generated returns on investments over the last 12 months (7.81%).

Civitas Resources Inc quarterly earnings per share for the current quarter are estimated at $2.74 with sales reaching $1.18B over the same period.The EPS is expected to shrink by -29.67% this year, but quarterly earnings will post -7.70% year-over-year. Quarterly sales are estimated to grow 44.70% in year-over-year returns.

Civitas Resources Inc (CIVI) Top Institutional Holders

470 institutions hold shares in Civitas Resources Inc (CIVI), with institutional investors hold 100.66% of the company’s shares. The shares outstanding are 85.12M, and float is at 75.51M with Short Float at 11.93%. Institutions hold 92.78% of the Float.

The top institutional shareholder in the company is Canada Pension Plan Investment Board with over 16.48 million shares valued at $1.14 billion. The investor’s holdings represent 17.58% of the CIVI Shares outstanding. As of Jun 29, 2023, the second largest holder is Kimmeridge Energy Management Company, LLC with 11.64 million shares valued at $807.78 million to account for 12.42% of the shares outstanding. The other top investors are Blackrock Inc. which holds 8.87 million shares representing 9.46% and valued at over $615.51 million, while Vanguard Group Inc holds 8.87% of the shares totaling 8.32 million with a market value of $577.02 million.

Civitas Resources Inc (CIVI) Insider Activity

A total of 3 insider transactions have happened at Civitas Resources Inc (CIVI) in the last six months, with sales accounting for 0 and purchases happening 3 times. The most recent transaction is an insider sale by Kimmeridge Energy Management C,the company’s10% Owner. SEC filings show that Kimmeridge Energy Management C sold 3,296,475 shares of the company’s common stock on Jul 19 at a price of $70.50 per share for a total of $232.4 million. Following the sale, the insider now owns 8.35 million shares.

Civitas Resources Inc disclosed in a document filed with the SEC on May 05 that Counts Travis L (Chief Legal Officer & Sec.) bought a total of 6,835 shares of the company’s common stock. The trade occurred on May 05 and was made at $68.20 per share for $0.47 million. Following the transaction, the insider now directly holds 36799.0 shares of the CIVI stock.

Civitas Resources Inc (CIVI): Who are the competitors?

The company’s main competitors (and peers) include Northern Oil & Gas Inc. (NOG) that is trading -2.23% down over the past 12 months.