BUZZ-Civitas Resources falls after missing Q4 estimates

Reuters
02-25
BUZZ-<a href="https://laohu8.com/S/CIVI">Civitas Resources</a> falls after missing Q4 estimates

** Civitas Resources falls 4.7% to $46.99 in extended trade

** Company reports Q4 adj. EPS of $1.78 vs. est. of $1.98 - data compiled by LSEG

** Operating expenses rise 23.7% from year-ago quarter

** Roth MKM analysts note company's 2025 oil output forecast was 4.4% below consensus, 2025 capex guide was 3.7% below consensus - production est of 325,000 to 335,000 boepd was 3.6% below consensus of 342,400 boepd

** Company also plans to expand Permian Basin position with a $300 mln bolt-on transaction, expected to close at end of February 2025

** Plans to fund the purchase price through additional borrowings on its revolving credit facility

** Also looks to execute new divestment target of $300 mln

** Aims to reduce 10% of workforce across all levels of organization

** Up to last close on Monday, CIVI up ~7.5% YTD

(Reporting by Seher Dareen in Bengaluru)

((Seher.Dareen@thomsonreuters.com;))

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