Mizuho Securities Maintains a Buy on Civitas Resources (CIVI), Sets a $50 PT

Civitas Resources Inc. (NYSE:CIVI) is one of the top oversold NYSE stocks to buy now. Mizuho Securities analyst Nitin Kumar CFA maintained a Buy rating on Civitas Resources Inc. (NYSE:CIVI) on July 9, setting a price target of $50.00.

Civitas Resources Inc. (NYSE:CIVI) reported in its fiscal Q1 2025 earnings that it returned $121 million to shareholders, including $50 million in dividends and $71 million in share repurchases.

The company also announced the launch of a $100-plus million cost optimization and efficiency initiative, with savings anticipated to come from production optimization, capital efficiencies, streamlined corporate costs, and commercial/midstream opportunities.

Civitas Resources Inc. (NYSE:CIVI) expects around $40 million to benefit 2025 free cash flow, with the entire amount additive to 2026.

Civitas Resources Inc. (NYSE:CIVI) is an independent exploration and production company that acquires, develops, and produces crude oil and associated liquids-rich natural gas. Its operations take place primarily in the Denver-Julesburg Basin in Colorado and the Permian Basin in Texas and New Mexico.

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Disclosure: None. This article is originally published at Insider Monkey.