Fannie Mae, Freddie Mac shares tumble after conservatorship comments
DENVER—Wouter T. van Kempen, a director at Civitas Resources , Inc. (NYSE:CIVI), has recently acquired 7,150 shares of the company’s common stock. The purchase comes as InvestingPro data shows the stock trading significantly below its Fair Value, with management actively buying back shares. The shares were purchased on May 9 at a price of $27.99 each, totaling approximately $200,128. Following this transaction, van Kempen now directly owns 16,924 shares of Civitas Resources. This acquisition reflects an increased stake in the Denver-based energy company, which currently offers a substantial 10.9% dividend yield. The stock has fallen over 60% in the past year, yet maintains strong fundamentals with a P/E ratio of just 3.2. For detailed analysis and more insights, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Civitas Resources reported better-than-expected financial results for the first quarter of 2025. The company achieved earnings per share of $1.77, surpassing the forecast of $1.63, and revenue reached $1.19 billion, exceeding the anticipated $1.18 billion. Civitas Resources has implemented a $100 million annual cost optimization plan and hedged nearly 50% of its crude oil production for 2025, valued at $200 million. Analysts from TD Cowen and JPMorgan inquired about the company’s operational strategies and its ability to maintain production levels amid volatile market conditions. Civitas Resources expressed confidence in meeting its year-end net debt target of $4.5 billion and is considering potential asset sales worth $300 million. The company has also expanded its hedge position to protect cash flow and maintain dividend levels even if oil prices drop to $40 WTI. Civitas Resources remains focused on enhancing its cost structure and operations to strengthen its financial position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.