Civitas Resources Inc reports results for the quarter ended in January - Earnings Summary

Civitas Resources

04/05/2024 24:06

* Civitas Resources Inc  CIVI.N  reported quarterly adjusted
earnings of $2.74​​ per share for the quarter ended in January,
lower than the same quarter last year, when the company reported
EPS of $2.92.  The mean expectation of eleven analysts for the
quarter was for earnings of $2.51 per share. Wall Street
expected results to range from $2.09  to $2.80 per share.
    * Revenue rose 102.6% to $1.33 billion from a year ago;
analysts
expected $1.29 billion. 
    * Civitas Resources Inc's reported EPS for the quarter was
$1.74​.
    * The company reported quarterly net income of $175.82
million.
    * Civitas Resources Inc shares had fallen by 7.1% this
quarter and
gained 3.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 11%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is also "buy"

Wall Street's median 12-month price target for Civitas Resources
Inc is $94.00 
This summary was machine generated from LSEG data May 3 at 11:06
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      2.51           2.74           Beat
 Dec. 31 2023      2.73           2.20           Missed
 Sep. 30 2023      2.70           3.66           Beat
 Jun. 30 2023      1.69           1.60           Missed