The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $484.21 million following the completion of this transaction.
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As published in their initiating research note from UBS on October 16, 2024, Civitas Resources Inc [CIVI] has been a Neutral and the price target has been revised to $60. Analysts at JP Morgan started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid September. Earlier on June 13, 2024, TD Cowen initiated its rating. Their recommendation was “a Buy” for CIVI stock.
Analyzing CIVI Stock Performance
During the last five days, there has been a drop of approximately -4.15%. Over the course of the year, Civitas Resources Inc shares have dropped approximately -22.06%. Shares of the company reached a 52-week high of $78.63 on 05/10/24 and a 52-week low of $49.10 on 09/26/24. A 50-day SMA is recorded $56.34, while a 200-day SMA reached $66.19. Nevertheless, trading volume fell to 1.16 million shares from 1.46 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 50.46, which, if violated, would cause prices to drop to 50.07. In the upper region, resistance lies at 51.32. The next price resistance is at 51.79. RSI (Relative Strength Index) is 39.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.27, which suggests the price will decrease in the coming days. Percent R is at 84.63%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
