Civitas Resources Inc’s filing revealed that its 10% Owner CANADA PENSION PLAN INVESTMENT unloaded Company’s shares for reported $509.36 million on May 15 ’24. In the deal valued at $73.22 per share,6,956,520 shares were sold. As a result of this transaction, CANADA PENSION PLAN INVESTMENT now holds 9,524,201 shares worth roughly $616.41 million.
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Then, Kimmeridge Energy Management C sold 3,296,475 shares, generating $232,401,488 in total proceeds. Upon selling the shares at $70.50, the 10% Owner now owns 8,348,022 shares.
TD Cowen initiated its Civitas Resources Inc [CIVI] rating to a Buy in a research note published on June 13, 2024; the price target was $90. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who began to cover the stock in late May with a ‘”an Outperform”‘ rating. Piper Sandler began covering CIVI with “an Overweight” recommendation on February 07, 2024. Pickering Energy Partners started covering the stock on January 05, 2024. It rated CIVI as “an Outperform”.
Price Performance Review of CIVI
On Friday, Civitas Resources Inc [NYSE:CIVI] saw its stock fall -1.60% to $64.72. Over the last five days, the stock has lost -3.07%. Civitas Resources Inc shares have fallen nearly -2.67% since the year began. Nevertheless, the stocks have risen 1.46% over the past one year. While a 52-week high of $81.61 was reached on 05/10/24, a 52-week low of $58.72 was recorded on 02/05/24. SMA at 50 days reached $72.88, while 200 days put it at $71.72. A total of 1.4 million shares were traded, compared to the trading of 1.01 million shares in the previous session.
Levels Of Support And Resistance For CIVI Stock
The 24-hour chart illustrates a support level at 64.35, which if violated will result in even more drops to 63.97. On the upside, there is a resistance level at 65.33. A further resistance level may holdings at 65.93. The Relative Strength Index (RSI) on the 14-day chart is 31.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.48%. Stochastics %K at 4.58% indicates the stock is a buying.
