Recap: Civitas Resources Q4 Earnings
Portfolio Pulse from Benzinga Insights
Civitas Resources (NYSE:CIVI) reported Q4 earnings, beating estimates with an EPS of $3.2 against the expected $2.73, and revenue increased by $312.73 million year-over-year. This follows a previous quarter where they missed EPS estimates, resulting in a 6.0% share price drop.
February 27, 2024 | 9:20 pm
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Civitas Resources reported a strong Q4 with EPS of $3.2, beating estimates by 17.0%, and significant year-over-year revenue growth.
Civitas Resources' Q4 earnings beat and significant revenue growth are likely to positively impact investor sentiment and the stock price in the short term. Historical data shows that the company's stock price dropped after missing EPS estimates last quarter, indicating market sensitivity to earnings performance. The strong Q4 results could reverse this trend.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100