Holdings of Civitas Resources Inc. (CIVI) are aligned with the stars

Civitas Resources Inc. (NYSE: CIVI) stock fell -0.78% on Friday to $56.13 against a previous-day closing price of $56.57. With 1.02 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.86 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $59.13 whereas the lowest price it dropped to was $55.64. The 52-week range on CIVI shows that it touched its highest point at $83.74 and its lowest point at $30.94 during that stretch. It currently has a 1-year price target of $87.43. With its current market cap of 4.63 billion, CIVI has annualized dividend of $1.85 while the current yield stands at 3.30%. Beta for the stock currently stands at 1.80.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CIVI was down-trending over the past week, with a drop of -2.50%, but this was up by 18.39% over a month. Three-month performance dropped to -12.05% while six-month performance rose 4.26%. The stock gained 58.68% in the past year, while it has gained 17.59% so far this year. A look at the trailing 12-month EPS for CIVI yields 3.98 with Next year EPS estimates of 14.24. For the next quarter, that number is 3.90. This implies an EPS growth rate of -4.30% for this year and 4.43% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 15.00%.

Float and Shares Shorts:

At present, 84.84 million CIVI shares are outstanding with a float of 84.26 million shares on hand for trading. On Jul 14, 2022, short shares totaled 6.01 million, which was 7.07% higher than short shares on Jun 14, 2022. In addition to Ms. Marianella Foschi as the firm’s Chief Financial Officer, Ms. Sandra Kay Garbiso serves as its Chief Accounting Officer & Treasurer.

Institutional Ownership:

Through their ownership of 104.59% of CIVI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.47% of CIVI, in contrast to 29.67% held by mutual funds. Shares owned by individuals account for 25.72%. As the largest shareholder in CIVI with 25.19% of the stake, Canada Pension Plan Investment Bo holds 21,398,753 shares worth 21,398,753. A second-largest stockholder of CIVI, BlackRock Fund Advisors, holds 9,360,650 shares, controlling over 11.02% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CIVI, holding 6,033,055 shares or 7.10% stake. With a 25.19% stake in CIVI, the Canada Pension Plan is the largest stakeholder. A total of 21,399,000 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 6.00% of CIVI stock, is the second-largest Mutual Fund holder. It holds 5,093,613 shares valued at 266.35 million. iShares Russell 2000 ETF holds 1.93% of the stake in CIVI, owning 1,642,111 shares worth 85.87 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CIVI since 5 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CIVI analysts setting a high price target of $106.00 and a low target of $70.00, the average target price over the next 12 months is $89.20. Based on these targets, CIVI could surge 88.85% to reach the target high and rise by 24.71% to reach the target low. Reaching the average price target will result in a growth of 58.92% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CIVI will report FY 2022 earnings on 03/07/2023. Analysts have provided yearly estimates in a range of $13.66 being high and $12.33 being low. For CIVI, this leads to a yearly average estimate of $13.01. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Civitas Resources Inc. surprised analysts by $0.76 when it reported $4.63 EPS against a consensus estimate of $3.87. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is $3.69 and the low estimate is $3.26. The average estimate for the next quarter is thus $3.46.

Summary of Insider Activity:

Insiders traded CIVI stock several times over the past three months with 8 Buys and 9 Sells. In these transactions, 37,296 shares were bought while 12,910 shares were sold. The number of buy transactions has increased to 41 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 528,036 while 208,588 shares were sold.

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