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Civitas Resources (CIVI)
NYSE:CIVI
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.69Last Year’s EPS
2.74Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: -25.40%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Neutral
Civitas Resources reported strong operational efficiencies and strategic expansions in 2024, generating substantial free cash flow and shareholder returns. However, the company faces challenges with workforce reductions, production declines, and a focus on debt reduction over aggressive shareholder returns, indicating a cautious approach amid market volatility.Company Guidance
In the Civitas Resources Fourth Quarter 2024 Earnings Conference Call, the company provided guidance for 2025 with a focus on maximizing free cash flow, targeting approximately $1.1 billion at a $70 WTI price. Key strategic initiatives include maintaining a leading cost structure, reducing debt by $800 million to reach a net debt target of $4.5 billion by year-end, and returning capital to shareholders, primarily through a $2 per share base dividend. Production is expected to average 150,000 to 155,000 barrels of oil per day, with capital investments of $1.8 billion to $1.9 billion, split evenly between the Permian and DJ Basins. The company also plans to execute a $300 million asset sales program, primarily from the DJ Basin, to offset a recent Midland Basin acquisition and extend its development runway in the Permian. The company aims to streamline its operations by reducing its workforce by 10% and enhancing operational efficiencies, while also focusing on ESG initiatives to further reduce emissions.Strong Free Cash Flow Generation
Civitas generated approximately $1.3 billion in free cash flow for 2024 and returned over 70% to shareholders through dividends and stock repurchases.
Operational Efficiencies in Midland Basin
Midland Basin well costs decreased by 15%, daily drilling footage increased by nearly 20%, and daily completion throughput increased by 50%.
Significant Inventory Extension
Civitas added nearly two years of future development in the Permian business unit and extended lateral lengths and working interest across the portfolio by 5%.
Successful Ground Game Activities
Strengthened both Midland and Delaware positions through over 50 trades, swaps, and new leasing with little to no cash outlay.
Record-Setting Wells in DJ Basin
Turned in-line the industry's first four-mile laterals in Colorado, achieving the state's highest 180-day cumulative oil production.
Strategic Bolt-on Acquisition
Acquired 19,000 acres in the Midland Basin with 130 locations, offset by a $300 million asset sales target primarily from the DJ Basin.
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CIVI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CIVI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 24, 2025 | $48.54 | $39.73 | -18.15% |
| Nov 07, 2024 | $52.04 | $52.14 | +0.19% |
| Aug 01, 2024 | $63.57 | $57.29 | -9.88% |
| May 02, 2024 | $65.36 | $69.94 | +7.01% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Civitas Resources (CIVI) report earnings?
Civitas Resources (CIVI) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Civitas Resources (CIVI) earnings time?
Civitas Resources (CIVI) earnings time is at Apr 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CIVI EPS forecast?
CIVI EPS forecast for the fiscal quarter 2025 (Q1) is 1.69.
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