Piper Sandler Lowers PT on Civitas Resources (CIVI) to $52 From $54, Keeps an Overweight Rating

Civitas Resources Inc. (NYSE:CIVI) is one of the best high growth low PE stocks to invest in now. On August 21, Piper Sandler lowered the firm’s price target on Civitas Resources Inc. (NYSE:CIVI) to $52 from $54, keeping an Overweight rating on the shares.

Is Civitas Resources, Inc. (CIVI) the Top Oil & Gas E&P Stock Outperforming Despite Sinking Oil Prices?

The firm told investors in a research note that it adjusted its model after a follow-up with Civitas Resources Inc. (NYSE:CIVI). It added that expectations for oil volumes are at the midpoint of FY25 guidance and total volumes are toward the low end.

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.

While we acknowledge the potential of CIVI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CIVI and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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