NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Civitas Resources, Inc. ("Civitas" or the "Company") (NYSE: CIVI) securities between February 27, 2024 and February 24, 2025, both dates inclusive (the "Class Period"). The Complaint alleges that Defendants made false and/or misleading sta ...

Core Viewpoint - Civitas Resources, Inc. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims that the company and its executives made misleading statements regarding its financial health and operational capabilities during the class period from February 27, 2024, to February 24, 2025 [1][3]. Company Overview - Civitas Resources is an exploration and production company focused on crude oil and natural gas production, primarily operating in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [2]. Allegations of the Lawsuit - The lawsuit alleges that Civitas Resources misled investors by failing to disclose significant expected reductions in oil production for 2025, which were attributed to natural declines in the DJ Basin and a low count of newly operational wells [3]. - It is claimed that increasing production would necessitate acquiring additional land and development locations, leading to significant debt and asset sales [3]. - The lawsuit also states that Civitas Resources would need to implement disruptive cost-cutting measures, including workforce reductions, which would negatively impact its business and financial prospects [3]. Financial Performance - On February 24, 2025, Civitas Resources reported fourth-quarter and full-year 2024 financial results, with revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78, missing estimates by $0.21 [4]. - The company projected a year-over-year decline in oil production of approximately 4%, with an average production target of 150 to 155 thousand barrels per day for 2025 [4]. - Civitas Resources announced a $300 million transaction to expand its Permian Basin position and a divestment target of $300 million to offset acquisition costs [4]. - The company also revealed a 10% workforce reduction and the termination of key executives, which led to an over 18% drop in stock price following the announcement [4].

PHILADELPHIA, May 5, 2025 /PRNewswire/ -- Berger Montague PC advises investors that a securities class action lawsuit has been filed against Civitas Resources, Inc. ("Civitas" or the "Company") (NYSE: CIVI) on behalf of purchasers of Civitas securities between February 27, 2024 through February 24, 2025, inclusive (the "Class Period").Investor Deadline: Investors who purchased or acquired Civitas securities during the Class Period may, no later than JULY 1, 2025, seek to be appointed as a lead plaintiff rep ...

ATLANTA, May 05, 2025 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Civitas Resources, Inc. (“Civitas” or the “Company”) (NYSE: CIVI). The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse information regarding Civitas’s business, operations, and prospects, including allegations that: (i) Civitas was highly likely to significantly reduce its oil production in 2025 as a result of, among other things, d ...

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Civitas Resources, Inc. (“Civitas” or the “Company”) (NYSE: CIVI) and certain officers.   The class action, filed in the United States District Court for the District of New Jersey, and docketed under 25-cv- 03791, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Civitas securities between February 27, 2024 and February ...

NEW YORK, April 08, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Civitas Resources, Inc. (NYSE: CIVI) resulting from allegations that Civitas Resources may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Civitas Resources securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contin ...

NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Civitas Resources, Inc. (NYSE: CIVI) resulting from allegations that Civitas Resources may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Civitas Resources securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contin ...

J.P. Morgan analyst Zach Parham retained a Neutral rating on Civitas Resources, Inc. CIVI with a price forecast of $49.The analyst writes that CIVI’s goal remains consistent with its fourth-quarter update, maintaining its focus on debt reduction over share buybacks.The analyst notes that the company aims to generate FCF and reduce debt by $800 million in FY25, which he sees as achievable at current strip pricing.Parham says asset sales remain a focus for the company, with a goal of over $300 million for FY2 ...

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Civitas Resources, Inc. due to allegations of materially misleading business information issued to the investing public [1]. Group 1: Investigation and Claims - Shareholders of Civitas Resources may be entitled to compensation through a class action lawsuit without any out-of-pocket fees or costs [2]. - The Rosen Law Firm is preparing a class action to seek recovery of investor losses [2]. Group 2: Financial Performance and Impact - On February 24, 2025, Civitas Resources reported earnings that missed estimates by $0.16, with revenue of $1.29 billion compared to the consensus estimate of $1.3 billion [3]. - Following the earnings report, Civitas announced the termination of its chief operating officer and chief transformation officer [3]. - The stock price of Civitas Resources fell by 18% on February 25, 2025, in response to the news [4]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements and recognition in the field [5]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [5].

Core Insights - The article highlights Civitas Resources (CIVI) as a potential investment opportunity, particularly during earnings season when temporary weaknesses may lead to bargain prices [2]. Group 1: Company Overview - Civitas Resources has shown a significant share price increase of 218%, indicating strong performance and potential for further growth [2]. Group 2: Investment Strategy - The focus is on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging, which aligns with the investment philosophy of the service mentioned [1].