Better Times Ahead For Civitas Resources Inc (NYSE: CIVI)?

Civitas Resources Inc (CIVI) concluded trading on Wednesday at a closing price of $75.62, with 3.34 million shares of worth about $252.36 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.57% during that period and on April 3, 2024 the price saw a gain of about 0.38%. Currently the company’s common shares owned by public are about 93.77M shares, out of which, 79.17M shares are available for trading.

However, the stock later moved at a day high price of 69.94, or with a gain of 0.38%. Stock saw a price change of 2.51% in past 5 days and over the past one month there was a price change of 12.36%. Year-to-date (YTD), CIVI shares are showing a performance of 12.08% which increased to 18.40% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $59.58 but also hit the highest price of $82.81 during that period. The average intraday trading volume for Civitas Resources Inc shares is 1.33 million. The stock is currently trading 4.86% above its 20-day simple moving average (SMA20), while that difference is up 13.02% for SMA50 and it goes to 8.36% higher than SMA200.

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Civitas Resources Inc (NYSE: CIVI) currently have 93.77M outstanding shares and institutions hold larger chunk of about 84.06% of that.

The stock has a current market capitalization of $7.64B and its 3Y-monthly beta is at 1.55. PE ratio of stock for trailing 12 months is 8.46, while it has posted earnings per share of $8.94 in the same period. Its PEG reads 0.56 and has Quick Ratio of 1.15 while making debt-to-equity ratio of 0.79. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CIVI, volatility over the week remained 1.84% while standing at 2.14% over the month.

Stock’s fiscal year EPS is expected to rise by 22.53% while it is estimated to increase by 15.54% in next year. EPS is likely to grow at an annualized rate of 15.00% for next 5-years, compared to annual growth of 2.01% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on February 07, 2024 offering an Overweight rating for the stock and assigned a target price of $92 to it. On January 03, 2024, Mizuho Upgrade their recommendations, while on September 18, 2023, Siebert Williams Shank Initiated their ratings for the stock with a price target of $106. Stock get an Outperform rating from BMO Capital Markets on August 31, 2023.

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