Profile
Sector:
EnergyIndustry:
Oil & Gas Equipment & ServicesCountry:
United StatesIPO:
15 December 2011Website:
http://civitasresources.comNext earnings report:
28 February 2025Last dividends:
12 September 2024Next dividends:
13 December 2024Price
after hours | Wed, 20 Nov 2024 23:13:52 GMTAnalysts recommendations
Institutional Ownership
CIVI Latest News
Civitas Resources, Inc. (NYSE:CIVI ) Q3 2024 Earnings Conference Call November 8, 2024 9:00 AM ET Company Participants Brad Whitmarsh - Head, Investor Relations Chris Doyle - Chief Executive Officer Marianella Foschi - Chief Financial Officer Hodge Walker - Chief Operating Officer Conference Call Participants Neal Dingmann - Truist Securities Zach Parham - J.P. Morgan Scott Hanold - RBC Capital Markets Francis DiGiovanna - TD Cowen Leo Mariani - ROTH Tim Rezvan - KeyBanc Capital Markets Oliver Huang - TPH John Abbott - Wolfe Research Noel Parks - Tuohy Brothers Operator Good day and thank you for standing by.
Civitas Resources (CIVI) came out with quarterly earnings of $1.99 per share, beating the Zacks Consensus Estimate of $1.86 per share. This compares to earnings of $1.56 per share a year ago.
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.
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. 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.
24/7 Wall St. Insights After languishing for much of the summer, oil prices look to head higher.
TipRanks' analyst ranking service pinpoints Wall Street's best-performing stocks, including Pfizer and IBM.
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.
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.
To me, it's a foreign concept that some investors steer clear of dividend stocks. Sure, they don't exactly have a reputation for being chart-toppers.
What type of business is Civitas Resources?
Civitas Resources, Inc., an exploration and production company, focuses on the acquisition, development, and production of oil and natural gas in the Rocky Mountain region, primarily in the Field of the Denver-Julesburg Basin of Colorado. It also holds interest in production wells. The company was formerly known as Bonanza Creek Energy, Inc. Civitas Resources, Inc. was founded in 1999 and is based in Denver, Colorado.
What sector is Civitas Resources in?
Civitas Resources is in the Energy sector
What industry is Civitas Resources in?
Civitas Resources is in the Oil & Gas Equipment & Services industry
What country is Civitas Resources from?
Civitas Resources is headquartered in United States
When did Civitas Resources go public?
Civitas Resources initial public offering (IPO) was on 15 December 2011
What is Civitas Resources website?
https://civitasresources.com
Is Civitas Resources in the S&P 500?
No, Civitas Resources is not included in the S&P 500 index
Is Civitas Resources in the NASDAQ 100?
No, Civitas Resources is not included in the NASDAQ 100 index
Is Civitas Resources in the Dow Jones?
No, Civitas Resources is not included in the Dow Jones index
When was Civitas Resources the previous earnings report?
No data
When does Civitas Resources earnings report?
The next expected earnings date for Civitas Resources is 28 February 2025