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 $483.83 million.
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UBS initiated its Civitas Resources Inc [CIVI] rating to a Neutral in a research note published on October 16, 2024; the price target was $60. A number of analysts have revised their coverage, including JP Morgan’s analysts, who began to cover the stock in mid September with a ‘”an Overweight”‘ rating. TD Cowen started covering the stock on June 13, 2024. It rated CIVI as “a Buy”.
Price Performance Review of CIVI
On Friday, Civitas Resources Inc [NYSE:CIVI] saw its stock fall -1.24% to $50.80. Over the last five days, the stock has lost -6.39%. Civitas Resources Inc shares have fallen nearly -22.12% since the year began. Nevertheless, the stocks have fallen -30.78% over the past one year. While a 52-week high of $76.02 was reached on 05/10/24, a 52-week low of $49.10 was recorded on 09/26/24. SMA at 50 days reached $55.97, while 200 days put it at $66.02.
Levels Of Support And Resistance For CIVI Stock
The 24-hour chart illustrates a support level at 50.32, which if violated will result in even more drops to 49.84. On the upside, there is a resistance level at 51.33. A further resistance level may holdings at 51.86. The Relative Strength Index (RSI) on the 14-day chart is 40.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.94%. Stochastics %K at 18.78% indicates the stock is a buying.
How much short interest is there in Civitas Resources Inc?
A steep rise in short interest was recorded in Civitas Resources Inc stocks on 2024-09-30, growing by 1.32 million shares to a total of 4.57 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 3.26 million shares. There was a rise of 28.8%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on May 28, 2024 when RBC Capital Mkts began covering the stock and recommended ‘”an Outperform”‘ rating along with a $90 price target.
