Fintel reports that on September 18, 2023, Mizuho maintained coverage of Civitas Resources Inc (NYSE:CIVI) with a Neutral recommendation.
Analyst Price Forecast Suggests 9.93% Upside
As of August 31, 2023, the average one-year price target for Civitas Resources Inc is 91.51. The forecasts range from a low of 75.75 to a high of $105.00. The average price target represents an increase of 9.93% from its latest reported closing price of 83.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Civitas Resources Inc is 3,243MM, an increase of 3.32%. The projected annual non-GAAP EPS is 12.23.
Civitas Resources Inc Declares $0.50 Dividend
On August 2, 2023 the company declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Shareholders of record as of September 15, 2023 will receive the payment on September 29, 2023. Previously, the company paid $0.50 per share.
At the current share price of $83.24 / share, the stock's dividend yield is 2.40%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.73%, the lowest has been 2.81%, and the highest has been 21.86%. The standard deviation of yields is 3.44 (n=231).
The current dividend yield is 1.84 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.89. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.18%.
What is the Fund Sentiment?
There are 748 funds or institutions reporting positions in Civitas Resources Inc. This is an increase of 51 owner(s) or 7.32% in the last quarter. Average portfolio weight of all funds dedicated to CIVI is 0.37%, a decrease of 7.19%. Total shares owned by institutions increased in the last three months by 0.29% to 91,553K shares. 
The put/call ratio of CIVI is 0.59, indicating a bullish outlook.
What are Other Shareholders Doing?
Canada Pension Plan Investment Board holds 16,481K shares representing 17.58% ownership of the company. No change in the last quarter.
Kimmeridge Energy Management Company holds 11,644K shares representing 12.42% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,432K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 3,781K shares, representing a decrease of 10.16%. The firm decreased its portfolio allocation in CIVI by 10.77% over the last quarter.
FLPSX - Fidelity Low-Priced Stock Fund holds 2,889K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 2,881K shares, representing an increase of 0.27%. The firm increased its portfolio allocation in CIVI by 9.48% over the last quarter.
First Trust Advisors holds 2,791K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 2,934K shares, representing a decrease of 5.12%. The firm decreased its portfolio allocation in CIVI by 4.78% over the last quarter.
Civitas Resources Background Information
(This description is provided by the company.)
Civitas Resources, Inc. is Colorado’s first carbon neutral oil & gas producer and is focused on developing and producing crude oil, natural gas and natural gas liquids in Colorado’s Denver-Julesburg Basin. The company is committed to pursuing compelling economic returns and cash flow while delivering best-in-class cost leadership and capital efficiency. Civitas is dedicated to safety, environmental responsibility, and implementing industry leading practices to create a positive local impact.
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This story originally appeared on Fintel.
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