The Vanguard Group, Inc. has recently announced that it has increased stake in Civitas Resources Inc. (NYSE:CIVI) by 1.92%. After grabbing 5.83 million shares, the institutional investor is now in possession of 0.11 million shares of the Energy Company. The new investment brought the stake of investor firm to 6.85% having worth around $408.87 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.42 million to have a control over 3.67 million shares. And Donald Smith & Co., Inc. raised its holdings to 66033.0 shares by acquiring 1.88 million shares or 2.21% of the stake.
Civitas Resources Inc. (CIVI) concluded trading on 03/15/23 at a closing price of $60.58, with 1.91 million shares of worth about $115.52 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 1.87% during that period and on Wednesday the price saw a loss of about -6.06%. Currently the company’s common shares owned by public are about 85.12M shares, out of which, 79.44M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the CIVI stock and their offered price forecasts bring an average price target of $81.57. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $94.00 and could fall to a lowest price of $75.00. The stock’s current price level is 27.34% above of average price target set by the analysts, while a rise to estimated low would result in gain of 19.23% for the stock. However, touching the estimated high of $94.00 would mean a gain of 35.55% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 42 times over the past 12 months. They bought 229,898 shares in 21 of the transactions. In 21 selling transactions, insiders dumped 4,980,537 shares.
Canada Pension Plan, iShares Core S&P Small Cap ETF, and Fidelity Low Priced Stock Fund are the top 3 mutual funds which are holding stakes in Civitas Resources Inc. Canada Pension Plan is currently holding 21.4 million shares of worth totaling $1.5 billion. The company recently came buying 21.4 million shares which brought its stake up to 25.14% of the company’s outstanding shares. iShares Core S&P Small Cap ETF bought 8112.0 shares, after which its hold over company’s outstanding shares expand to 4.62%, leaving 3.93 million shares with the mutual fund that have a worth of about $275.72 million. Fidelity Low Priced Stock Fund, after buying 2.88 million shares, have now control over 3.39% of the stake in the company. It holds 6800.0 shares of worth $202.28 million.
Civitas Resources Inc. (NYSE: CIVI) started trading at $61.47, below -$3.02 from concluding price of the previous day. However, the stock later moved at a day high price of 62.26, or with a loss of -6.06%. Stock saw a price change of -14.39% in past 5 days and over the past one month there was a price change of -6.44%. Year-to-date (YTD), CIVI shares are showing a performance of 7.26% which increased to 21.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $41.15 but also hit the highest price of $78.01 during that period. The average intraday trading volume for Civitas Resources Inc. shares is 669.81K. The stock is currently trading -9.55% below its 20-day simple moving average (SMA20), while that difference is down -4.04% for SMA50 and it goes to 0.54% higher than SMA200.
The Vanguard Group, Inc. acquired 5.83 million shares of Civitas Resources Inc. having value of about $408.87 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.11 million shares in the company valued at close to $6660165.2, or have control over 1.92% stake in the company. Holding of mutual funds in the company is about 20.09% while other institutional holders and individual stake holders have control over 63.54% and 19.30% of the stake respectively.
The stock has a current market capitalization of $5.00B and its 3Y-monthly beta is at 1.78. PE ratio of stock for trailing 12 months is 4.16, while it has posted earnings per share of $14.58 in the same period. Its PEG reads 0.28 while making debt-to-equity ratio of 0.00. 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 5.72% while standing at 4.30% over the month.
Analysts are in expectations that Civitas Resources Inc. (CIVI) stock would likely to be making an EPS of $2.6 in the current quarter, while forecast for next quarter EPS is $2.71 and it is $10.97 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.41 which is $2.89 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 207.60% while it is estimated to increase by 3.25% in next year. EPS is likely to shrink at an annualized rate of 15.00% for next 5-years, compared to annual growth of 164.00% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Civitas Resources Inc. (CIVI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 7 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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 Mizuho on January 10, 2023 offering a Neutral rating for the stock and assigned a target price of $71 to it. Coverage by Jefferies stated Civitas Resources Inc. (CIVI) stock as a Buy in their note to investors on October 19, 2022, suggesting a price target of $77 for the stock. On September 20, 2022, KeyBanc Capital Markets Initiated their recommendations, while on July 20, 2022, MKM Partners Initiated their ratings for the stock with a price target of $70. Stock get an Equal weight rating from Wells Fargo on July 11, 2022.
