Why These Energy Stocks are Losing This Week

3. Civitas Resources, Inc. (NYSE:CIVI)

Share Price Decline Between Feb. 24 and Mar. 3: 28.6%

Civitas Resources, Inc. (NYSE:CIVI) is an oil and gas exploration and production company with assets in Colorado and Texas. The company had a tough Q4 2024 as it reported a Non-GAAP EPS of $1.78, missing estimates by $0.21. Its revenue came in at $1.29 billion, below market expectations by $10 million. Moreover, the company is aiming to lower average annual oil volumes by approximately 3 MBbl/d as compared to 2024, raising concerns among investors and analysts.

As a result of the lower-than-expected results and forecast, Civitas Resources, Inc. (NYSE:CIVI) was downgraded by KeyBanc Capital Markets from Overweight to Sector Weight.