A securities class action has been filed against Civitas Resources, Inc. (CIVI) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Civitas securities between February 27, 2024 through February 24, 2025. This case has been filed in the USDC – NJ.
On February 24, 2025, Civitas announced its financial results for the fourth quarter and full year 2024, including both revenue and non-GAAP EPS that missed consensus estimates. Civitas also announced a 10% reduction in its workforce across all levels, as well as the termination of its Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly, effective immediately.
On this news, Civitas’s stock price fell $8.95 per share, or 18.15%, to close at $40.35 per share on February 25, 2025.