Civitas Resources Inc reports results for the quarter ended June 30 - Earnings Summary

• Civitas Resources Inc CIVI reported quarterly adjusted earnings of 99 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $2.06. The mean expectation of fifteen analysts for the quarter was for earnings of $1.07 per share. Wall Street expected results to range from 50 cents to $1.54 per share.

• Revenue fell 19.5% to $1.06 billion from a year ago; analysts expected $1.11 billion.

• Civitas Resources Inc's reported EPS for the quarter was $1.34​.

• The company reported quarterly net income of $124 million.

• Civitas Resources Inc shares had risen by 3.7% this quarter and lost 37.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 11.4% 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 8 "strong buy" or "buy," 7 "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 $42.00, about 33.7% above its last closing price of $27.85

This summary was machine generated from LSEG data August 7 at 03:08 a.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)