CIVI Stock Recent News

Civitas Resources is undervalued but with strong growth potential, driven by strategic acquisitions in key U.S. oil basins and a solid dividend strategy. Despite elevated debt levels, Civitas maintains a robust interest coverage ratio and continues to prioritize shareholder returns through dividends and stock buybacks. The company's commitment to sustainability and advanced drilling techniques positions it well for long-term growth in the competitive oil & gas sector.

DENVER--(BUSINESS WIRE)--Civitas Resources, Inc. Schedules Third Quarter 2024 Conference Call and Webcast.

Civitas Resources was formed in 2021 through a combination of companies with bankruptcy in the past. The company is managed conservatively financially. Acquisitions were made with a mix of stock and debt to keep the debt ratio at acceptable levels.

Civitas Resources, Inc. CIVI is facing falling WTI crude prices heading into 2025. This Zacks Rank #5 (Strong Sell) may struggle to grow earnings if crude prices continue to decline.

Civitas Resources, Inc. is a strong buy due to its aggressive M&A strategy, attractive valuation multiples, and substantial free cash yield. The company is leveraging its DJ and Permian Basin assets, focusing on cost reduction and production efficiency, with significant shareholder returns. Civitas Resources' hedging strategy ensures cash flow stability amidst commodity price fluctuations, aiding in rapid debt reduction and potential share buybacks.

Civitas Resources (CIVI) came out with quarterly earnings of $2.06 per share, missing the Zacks Consensus Estimate of $2.93 per share. This compares to earnings of $1.72 per share a year ago.

DENVER--(BUSINESS WIRE)--Civitas Resources, Inc. (NYSE: CIVI) (the "Company" or "Civitas") today reported its second quarter 2024 financial and operating results. A webcast and conference call is planned for 9 a.m. MT (11 a.m. ET) on Friday, August 2, 2024. Participation details are available in this release, and supplemental materials can be accessed on the Company's website, www.civitasresources.com. Key Second Quarter 2024 Results   Three Months Ended June 30, 2024   Six Months Ended June 30.

Civitas (CIVI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Civitas is an exploration and production company with expertise in the acquisition as well as the production of crude oil and gas. I think that the company's growth in cash, PP&E, assets, and equity over the last decade indicates proven expertise. Competitors trade more expensively than CIVI, with analysts reporting a strong buy rating and a target price of $94, suggesting significant upside potential.

DENVER--(BUSINESS WIRE)--Civitas schedules second quarter 2024 conference call and webcast for August 2nd.