Core Viewpoint - A securities class action lawsuit has been filed against Civitas Resources, Inc. for alleged issues during the Class Period from February 27, 2024, to February 24, 2025 [1][2]. Financial Performance - Civitas reported Q4 and full-year 2024 revenue of $1.29 billion, which missed consensus estimates by $3.44 million [3]. - The company posted non-GAAP earnings per share of $1.78 for Q4 2024, falling short of consensus estimates by $0.21 per share [3]. - Net income for the quarter was $151.1 million, or $1.57 per share, a significant decrease from $302.9 million, or $3.23 per share, in the same quarter the previous year [3]. Operational Outlook - Civitas's 2025 outlook indicated lower production volumes primarily due to natural declines in the DJ Basin following peak production in Q4 2024 [4]. - The company announced a 10% reduction in its workforce across all levels [4]. - The termination of Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly was also disclosed [4]. Market Reaction - Following the announcement of the financial results and operational changes, Civitas's stock price dropped by $8.95 per share, or 18%, closing at $40.35 per share on February 25, 2025 [5].

NEW YORK, June 24, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Civitas Resources, Inc. (NYSE: CIVI) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Civitas you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/civitas-resources-inc. Investors have until July 1, 2025, to ask the Court to be appointe ...

NEW YORK, June 23, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Civitas Resources, Inc. (NYSE: CIVI). DEADLINE: July 1, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/civitas-resources-loss-submission-form/? id=153658&from=4 NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of CIVI during the timeframe listed above, you will be enrol ...

Core Viewpoint - A securities class action lawsuit has been filed against Civitas Resources, Inc. for failing to disclose significant operational challenges during the Class Period from February 27, 2024, to February 24, 2025 [1][3]. Financial Performance - Civitas reported Q4 2024 revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78, which was $0.21 below expectations [4]. - The company’s net income for the quarter was $151.1 million, or $1.57 per share, a decline from $302.9 million, or $3.23 per share, in the same quarter the previous year [4]. Operational Challenges - The lawsuit claims that Civitas was likely to significantly reduce its oil production in 2025 due to declines after reaching peak production in the DJ Basin in Q4 2024 [3]. - To increase oil production, Civitas would need to acquire additional acreage and development locations, and implement disruptive cost-reduction measures [3]. Workforce and Management Changes - Civitas announced a 10% reduction in its workforce across all levels and terminated its Chief Operating Officer and Chief Transformation Officer [5]. Market Reaction - Following the announcement of its financial results and operational outlook, Civitas's stock price fell by $8.95 per share, or 18%, closing at $40.35 on February 25, 2025 [6].

Core Viewpoint - A lawsuit has been filed against Civitas Resources, Inc. and its senior executives for potential violations of federal securities laws, alleging misleading statements regarding the company's production capabilities and costs [1][2][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of New Jersey, titled Lin v. Civitas Resources, et al., No. 25-cv-03791, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until July 1, 2025, to request to be appointed to lead the case [2]. Group 2: Company Background - Civitas Resources is an oil and gas exploration and production company with key assets in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico [3]. - The company claimed to have "enhanced recovery potential" and "driven production ahead of plans," while asserting that costs were below expectations [3]. Group 3: Financial Performance and Stock Impact - On February 24, 2025, Civitas announced disappointing Q4 and full year 2024 results, revealing that oil production had peaked and would require significant capital investment to increase production [4]. - Following the announcement, Civitas's stock price fell over 18%, from $49.30 per share to $40.35 per share [4].

Core Viewpoint - Civitas Resources, Inc. is facing a class action lawsuit due to allegedly misleading statements regarding its oil production and financial condition during the specified class period from February 27, 2024, to February 24, 2025 [1][3]. Group 1: Class Action Details - The Rosen Law Firm is reminding investors who purchased Civitas securities during the class period of the July 1, 2025, deadline to become a lead plaintiff in the class action [1][2]. - The lawsuit claims that Civitas made materially false and misleading statements about its oil production capabilities and financial health, which led to investor damages when the truth was revealed [3]. Group 2: Allegations Against Civitas - Civitas was likely to significantly reduce its oil production in 2025 due to declines following a production peak in Q4 2024 and low TIL count at the end of 2024 [3]. - Increasing oil production would necessitate acquiring additional acreage, leading to significant debt and asset sales to cover acquisition costs [3]. - The company's financial condition would require disruptive cost-reduction measures, including a significant workforce reduction, which overstated its business and financial prospects [3].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Civitas To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $100,000 in Civitas between February 27, 2024 and February 24, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, June 20, 2025 /PRNew ...

NEW YORK, June 20, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Civitas Resources, Inc. (NYSE: CIVI) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Civitas you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/civitas-resources-inc. Investors have until July 1, 2025, to ask the Court to be appointe ...

NEW YORK, June 20, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Civitas Resources, Inc. ("Civitas Resources" or the "Company") (NYSE: CIVI) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Civitas Resources investors who were adversely affected by alleged securities fraud between February 27, 2024 and February 24, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/civi ...

NEW YORK, June 19, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Civitas Resources, Inc. ("Civitas Resources" or the "Company") (NYSE: CIVI) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Civitas Resources investors who were adversely affected by alleged securities fraud between February 27, 2024 and February 24, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra- ...