Civitas Resources Inc

CIVI

Equity

ISIN US17888H1032 / Valor 114354404

New York Stock Exchange, Inc (2024-12-24)

USD 43.95+1.71%

Civitas Resources Inc
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About company

Civitas Resources Inc is an oil and natural gas company that was formed through the merger of established Colorado peer companies, with a portfolio that has expanded to include operations in New Mexico and Texas. The company focuses on optimizing asset development, increasing operational efficiency, and reducing costs through increased scale in the Denver-Julesburg and Permian basins. Civitas is dedicated to long-term sustainability and aims to ensure that neighboring communities benefit from the oil and natural gas industry for years to come.

Summarized from source with an LLMView SourceSector: Energy

Net Income

Civitas Resources Inc. reported a net income of $215.989 million for the second quarter of 2024, an increase from the $175.821 million reported in the first quarter of 2024. This marks a significant improvement in the company's profitability over the period.

Adjusted Net Income

For the second quarter of 2024, Civitas Resources Inc. achieved an Adjusted Net Income of $206.951 million, compared to $277.109 million in the first quarter of 2024. Adjusted Net Income per diluted share was $2.06, down from $2.74 in the previous quarter.

Operating Cash Flow

Civitas Resources Inc. generated $359.568 million in net cash provided by operating activities during the second quarter of 2024. This is a decrease from the $812.552 million reported in the first quarter of 2024, reflecting changes in operating assets and liabilities.

Adjusted EBITDAX

In the second quarter of 2024, Civitas Resources Inc. reported an Adjusted EBITDAX of $918.076 million, slightly down from $928.223 million in the first quarter of 2024. This measure is used to evaluate the company's ability to generate funds for exploration, development, and debt servicing.

Adjusted Free Cash Flow

Civitas Resources Inc. reported an Adjusted Free Cash Flow of $235.425 million for the second quarter of 2024, an increase from $145.587 million in the first quarter of 2024. This metric indicates the company's ability to generate cash from its existing assets to fund future activities and return cash to stockholders.

Summarized from source with an LLMView Source

Key figures

-36.9%1Y

-8.57%3Y

87.9%5Y

Performance

31.3%1Y

44.8%3Y

59.3%5Y

Volatility