Sprouts Farmers Market closes $600 million revolving credit facility
DENVER—Travis L. Counts, Chief Administrative Officer and Secretary at Civitas Resources , Inc. (NYSE:CIVI), recently acquired 3,500 shares of the company’s common stock. The shares were purchased on May 9, 2025, at a weighted average price of approximately $27.89 per share, with prices ranging from $27.79 to $27.95. According to InvestingPro data, this insider purchase comes as the stock trades significantly below its Fair Value, with management actively buying back shares.
This transaction, disclosed in a recent SEC filing, brings Counts’ total direct ownership in Civitas Resources to 64,540 shares. The acquisition reflects a total investment of $97,625. The purchase comes as Civitas offers a substantial 10.9% dividend yield and trades at an attractive P/E ratio of 3.2x.
The purchase was executed in multiple open market transactions, as noted in the filing, and represents a significant addition to Counts’ holdings in the Denver-based energy company. While the stock has faced pressure, falling over 60% in the past year, InvestingPro analysis reveals 10+ additional investment insights and a comprehensive Pro Research Report available for this stock.
In other recent news, Civitas Resources Inc. reported its first-quarter 2025 financial results, surpassing analyst expectations. The company achieved earnings per share of $1.77, exceeding the projected $1.63, while revenue reached $1.19 billion, slightly above the anticipated $1.18 billion. Civitas Resources has also initiated a $100 million annual cost optimization plan and hedged nearly 50% of its crude oil production for 2025, valued at $200 million. Despite the positive earnings and revenue results, Civitas Resources’ stock experienced a slight decline in premarket trading. The company is targeting a year-end net debt of $4.5 billion and is exploring potential asset sales totaling $300 million to focus on non-producing assets. Additionally, the company welcomed Clay Carroll as the new President and Chief Operating Officer, emphasizing its commitment to operational improvements and cost efficiency. Analyst firms such as TD Cowen and JPMorgan have engaged with Civitas Resources regarding its strategic plans and financial outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.