Truist raised the firm’s price target on Civitas Resources to $110 from $107 and keeps a Buy rating on the shares after its Q4 earnings beat. The company is running on all cylinders with Vencer integrated along with the other two attractive Permian assets, the analyst tells investors in a research note. Civitas’ sales mix, along with efficient operations, will result in a potential 50% reinvestment rate and about a $600M in dividends and ample buybacks, the firm added.
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