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Howard A. Willard, a director at Civitas Resources , Inc. (NYSE:CIVI), acquired 7,000 shares of the company’s common stock on May 9, 2025. This insider purchase comes as the stock has declined over 60% in the past year, with InvestingPro data showing management has been actively buying back shares. The purchase was made at a price of $27.67 per share, resulting in a total investment of $193,690. Following this transaction, Willard holds a total of 39,805 shares in the company. This transaction highlights Willard’s increased stake in the Denver-based energy company, which currently offers a substantial 10.92% dividend yield. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimate, with 12 additional exclusive insights available to subscribers.
In other recent news, Civitas Resources Inc. reported earnings and revenue for the first quarter of 2025 that surpassed analyst expectations. The company achieved earnings per share of $1.77, exceeding the forecasted $1.63, and reported revenue of $1.19 billion, slightly above the anticipated $1.18 billion. These results underscore Civitas Resources’ effective cost management and operational strategies, which include a $100 million annual cost optimization plan. Additionally, Civitas has hedged nearly 50% of its crude oil production for 2025, valued at $200 million, as part of its financial strategy. The company is also targeting a year-end net debt of $4.5 billion and is considering potential asset sales of $300 million to focus on non-producing assets. Despite these positive financial outcomes, the company’s stock experienced a slight decline in premarket trading, reflecting broader market challenges. Looking ahead, Civitas Resources anticipates a 5% growth in oil production for the second quarter of 2025 and remains committed to prioritizing debt reduction.
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