The Company's board of directors approved a dividend of $1.59 per share, payable on December 29, 2023 to shareholders of record as of December 15, 2023. The total reflects the combination of a quarterly base dividend of $0.50 per share and a quarterly variable dividend of $1.09 per share. Additional details regarding the calculation of the variable dividend can be found in the Company's investor presentation located on its website.
Annualized dividend yield 9.2% based on today's share price of $69.00
Civitas Resources (CIVI) Update - Nov 29
Civitas Resources (CIVI) Update - Nov 29
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Civitas Resources (CIVI) Update - Nov 29
TipRanks: "In the last 3 months, 6 ranked analysts set 12-month price targets for CIVI. The average price target among the analysts is $99.67. The 6 price targets range from $95 to $106."
Only two of the analysts have updated their price targets since Civitas released Q3 results and updated guidance on 11/7/2023.
> On 11/8/2023 Neal Dingmann with Truist Financial (rated 5 Stars by TipRanks) rated CIVI a BUY with a price target of $103.
> On 11/8/2023 Gabriele Sorbara with Siebert Williams Shank & Co (rated 4.5 Stars by TipRanks) rated CIVI a BUY with a price target of $106.
At the time of this post CIVI was trading $68.34.
My updated valuation is $105/share.
Only two of the analysts have updated their price targets since Civitas released Q3 results and updated guidance on 11/7/2023.
> On 11/8/2023 Neal Dingmann with Truist Financial (rated 5 Stars by TipRanks) rated CIVI a BUY with a price target of $103.
> On 11/8/2023 Gabriele Sorbara with Siebert Williams Shank & Co (rated 4.5 Stars by TipRanks) rated CIVI a BUY with a price target of $106.
At the time of this post CIVI was trading $68.34.
My updated valuation is $105/share.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group