Checking in on Civitas Resources Inc. (CIVI) after recent insiders movement


Civitas Resources Inc.’s filing revealed that its 10% Owner Kimmeridge Energy Management C unloaded Company’s shares for reported $232.4 million on Jul 19. In the deal valued at $70.50 per share,3,296,475 shares were sold. As a result of this transaction, Kimmeridge Energy Management C now holds 8,348,022 shares worth roughly $ 698.06 million.

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Then, Counts Travis L bought 6,835 shares, generating $466,126 in total proceeds. Upon buying the shares at $68.20, the Chief Legal Officer & Sec. now owns 36,799 shares.

Before that, CANADA PENSION PLAN INVESTMENT sold 4,918,032 shares. Civitas Resources Inc. shares valued at $299,999,952 were divested by the 10% Owner at a price of $61.00 per share. As a result of the transaction, CANADA PENSION PLAN INVESTMENT now holds 16,480,721 shares, worth roughly $1.38 billion.

BMO Capital Markets initiated its Civitas Resources Inc. [CIVI] rating to an Outperform in a research note published on Friday, August 31, 2023; the price target was $95. PT values the company’s stock at a premium of 11.98 to its Friday closing price.

Price Performance Review of CIVI

On Friday, Civitas Resources Inc. [NYSE:CIVI] saw its stock jump 1.70% to $83.62. On the same session, the stock had its day’s lowest price of $83.01, but rose to a high of $84.62. Over the last five days, the stock has gained 4.36%. Civitas Resources Inc. shares have risen nearly 51.52% since the year began. Nevertheless, the stocks have risen 36.73% over the past one year. While a 52-week high of $82.36 was reached on 09/01/23, a 52-week low of $49.02 was recorded on 01/05/23. SMA at 50 days reached $74.27, while 200 days put it at $67.96. A total of 0.74 million shares were traded, compared to the trading of 0.55 million shares in the previous session.

Levels Of Support And Resistance For CIVI Stock

The 24-hour chart illustrates a support level at 82.88, which if violated will result in even more drops to 82.14. On the upside, there is a resistance level at 84.49. A further resistance level may holdings at 85.36. The Relative Strength Index (RSI) on the 14-day chart is 72.42, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.24, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.47%. Stochastics %K at 93.42% indicates the stock is a selling.

How much short interest is there in Civitas Resources Inc.?

A steep rise in short interest was recorded in Civitas Resources Inc. stocks on Aug 14, 2023, dropping by -1.02 million shares to a total of 5.21 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.23 million shares. There was a decline of -19.58%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 10.95% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.81.

Civitas Resources Inc. [CIVI] – Who Are The Largest Shareholders?

In filings from Canada Pension Plan Investment Bo, it is revealed that the company now owns 16,480,721 shares, or roughly 17.58% of the outstanding CIVI shares. Additionally, The Vanguard Group, Inc. decreased -1.83% of its stake after which the total value it holdings stand at $613,873,485, while BlackRock Fund Advisors reduced -8.39% of its stake to hold $609.79 million in the firm. Over the last quarter, Fidelity Management & Research Co purchased 40,332 shares of Civitas Resources Inc., while SSgA Funds Management, Inc. bought -36,386 shares. At present, First Trust Advisors LP is holding 2,790,541 shares valued at $208.9 million. Sourcerock Group LLC owned 1,716,709 shares of the company at the time of its most recent 13F filing, worth $128.51 million.

According to FactSet, Civitas Resources Inc.’s share price will average $92.22 in the next year, based on opinions of analysts polled by the firm. This is up nearly 15.54 percent from its previous closing price of $82.22. Analysts expect Civitas Resources Inc. stock to reach the higher price of $107.00, while the lowest price estimate is $75.00. However, 9 analysts have rated CIVI stock as a Buy in their predictions for 2023.


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