Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Civitas Resources Inc shares valued at $509,356,394 were sold by CANADA PENSION PLAN INVESTMENT on May 15 ’24. At $73.22 per share, CANADA PENSION PLAN INVESTMENT sold 6,956,520 shares. The insider’s holdings dropped to 9,524,201 shares worth approximately $630.79 million following the completion of this transaction.
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Also, Kimmeridge Energy Management C sold 3,296,475 shares, netting a total of over 232,401,488 in proceeds. Following the sale of shares at $70.50 each, the insider now holds 8,348,022 shares.
As published in their initiating research note from TD Cowen on June 13, 2024, Civitas Resources Inc [CIVI] has been a Buy and the price target has been revised to $90. Analysts at RBC Capital Mkts started covering the stock with ‘”an Outperform”‘ outlook in a report released in late May. As of February 07, 2024, Piper Sandler has initiated its “an Overweight” rating for CIVI. Earlier on January 05, 2024, Pickering Energy Partners initiated its rating. Their recommendation was “an Outperform” for CIVI stock.
Analyzing CIVI Stock Performance
During the last five days, there has been a drop of approximately -3.10%. Over the course of the year, Civitas Resources Inc shares have dropped approximately -0.40%. Shares of the company reached a 52-week high of $78.63 on 05/10/24 and a 52-week low of $60.38 on 02/05/24. A 50-day SMA is recorded $72.49, while a 200-day SMA reached $71.57. Nevertheless, trading volume fell to 0.99 million shares from 0.91 million shares the previous day.
Support And Resistance Levels for Civitas Resources Inc (CIVI)
According to the 24-hour chart, there is a support level at 65.69, which, if violated, would cause prices to drop to 65.16. In the upper region, resistance lies at 66.70. The next price resistance is at 67.18. RSI (Relative Strength Index) is 38.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.74, which suggests the price will decrease in the coming days. Percent R is at 78.91%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
