Piper Sandler raised the firm’s price target on Civitas Resources to $103 from $92 and keeps an Overweight rating on the shares. The analyst updated exploration and production models following the Q4 reports. The firm says gas has been a frequent topic of discussion, and gas-weighted names have responded well to supply curtailments and lower spending and activity levels. Piper’s top picks in the group remain Diamondback Energy (FANG), Permian Resources (PR), Chord Energy (CHRD) and EQT (EQT).
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Read More on CIVI:
- Civitas Resources price target raised to $110 from $107 at Truist
- A New Cause for Concern: Civitas Resources, Inc. Adds a New Debt & Financing Risk
- Civitas Resources announces share repurchase from NGP
- Civitas Resources reaffirms FY24 total production view 325-345 MBoe/d
- Civitas Resources reports Q4 EPS $3.20, consensus $2.73
