Trending...
- Colorado Springs: Podcast: Police Appreciation Week
- Colorado Springs Fire Department 2025 Living with Wildfire Town Hall
- RWA Infra Development L.L.C. announces the $RWAID token. "$RWAID tokenizing infrastructure for the masses."
PHILADELPHIA, May 5, 2025 /PRNewswire/ -- Berger Montague PC advises investors that a securities class action lawsuit has been filed against Civitas Resources, Inc. ("Civitas" or the "Company") (NYSE: CIVI) on behalf of purchasers of Civitas securities between February 27, 2024 through February 24, 2025, inclusive (the "Class Period").
Investor Deadline: Investors who purchased or acquired Civitas securities during the Class Period may, no later than JULY 1, 2025, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.
Headquartered in Denver, Civitas is a crude oil and natural gas company.
According to the complaint, throughout the Class Period, Defendants failed to disclose that: (i) Civitas was highly likely to significantly reduce its oil production in 2025 due in part to declines after the production peak at the DJ Basin in the fourth quarter of 2024; (ii) increasing its oil production would require the Company to acquire additional acreage and development locations; (iii) the Company would need to implement disruptive cost-reduction measures.
More on Colorado Desk
On February 24, 2025, Civitas announced its Q4 and full-year 2024 financial results, which included revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78 for the quarter, missing consensus estimates by $0.21 per share. In addition, Civitas reported net income of $151.1 million, or $1.57 per share, compared with $302.9 million, or $3.23 per share, in the year-ago quarter.
Also on February 24, Civitas issued a press release outlining the Company's 2025 outlook, which noted that, compared to Q4 2024, "lower volumes are primarily driven by the DJ Basin, due to natural declines following peak production in the fourth quarter." In addition, Civitas announced a 10% reduction in its workforce across all levels.
Finally, the Company announced the termination of its Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly.
On this news, Civitas's stock price fell $8.95 per share, or 18%, to close at $40.35 per share on February 25, 2025.
To learn your rights or for more information, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Peter Hamner at [email protected].
More on Colorado Desk
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]
Peter Hamner
Berger Montague PC
[email protected]
SOURCE Berger Montague
Investor Deadline: Investors who purchased or acquired Civitas securities during the Class Period may, no later than JULY 1, 2025, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.
Headquartered in Denver, Civitas is a crude oil and natural gas company.
According to the complaint, throughout the Class Period, Defendants failed to disclose that: (i) Civitas was highly likely to significantly reduce its oil production in 2025 due in part to declines after the production peak at the DJ Basin in the fourth quarter of 2024; (ii) increasing its oil production would require the Company to acquire additional acreage and development locations; (iii) the Company would need to implement disruptive cost-reduction measures.
More on Colorado Desk
- Koplon Implant & Family Dentistry Receives National Recognition as One of the Best Dental Implant Practices in the U.S
- San Antonio Buyer Secures 2.375% Mortgage in 2025-Broker Reveals the Mistake Costing Buyers Thousands
- Heritage at South Brunswick Grand Opening Success!
- Colorado: Governor Polis Takes Action to Increase Housing Supply, Break Down Barriers to More Housing Coloradans Can Afford
- Colorado: Expanded Schedule, Lower Fares Send Ski Train Ridership Sky High
On February 24, 2025, Civitas announced its Q4 and full-year 2024 financial results, which included revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78 for the quarter, missing consensus estimates by $0.21 per share. In addition, Civitas reported net income of $151.1 million, or $1.57 per share, compared with $302.9 million, or $3.23 per share, in the year-ago quarter.
Also on February 24, Civitas issued a press release outlining the Company's 2025 outlook, which noted that, compared to Q4 2024, "lower volumes are primarily driven by the DJ Basin, due to natural declines following peak production in the fourth quarter." In addition, Civitas announced a 10% reduction in its workforce across all levels.
Finally, the Company announced the termination of its Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly.
On this news, Civitas's stock price fell $8.95 per share, or 18%, to close at $40.35 per share on February 25, 2025.
To learn your rights or for more information, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Peter Hamner at [email protected].
More on Colorado Desk
- Discover Suerte Reposado: The Back-to-Back Double Gold Winning, 100% Pure Agave Reposado
- KinetikChain Denver Launches Dedicated One-on-One Physical Therapy Resource For Denver Seeking Pain Relief
- Team Engine App Brings Applicant & Employee Messaging to Operations Leaders in the Field
- Speedy Sparkle Car Wash Brings Eco-Friendly Excellence and Award-Winning Service to Boulder, CO Drivers
- $1B Target by 2027 Amid eSIM, Global Roaming Expansion; $57.6M Q1 Revenue and Market Uplisting, Advancing Toward IQSTEL, Inc. (Stock Symbol: IQST)
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]
Peter Hamner
Berger Montague PC
[email protected]
SOURCE Berger Montague
Filed Under: Business
0 Comments
Latest on Colorado Desk
- Novel 'We Won't Go Back' Published; Addresses Women's Issues
- Call for Papers Deadline Approaching – Don't Miss Your Shot to Speak at the OpenSSL Conference 2025!
- Colorado: Governor Polis Signs Bills to Increase Access to Health Care and Emergency Services
- Colorado Springs: Woodmen Road at Campus Drive to undergo median work
- The ROS1ders Announces Recipients of 2024 ROS1+ Cancer Innovation Awards
- Emanuel Rose to Present "Leveraging AI in HR: Transforming Talent Management" at Mile High SHRM
- AUACOM Signs a Statement of Shared Interest with BMCC
- WWSG Announces Exclusive Speaking Partnership with Patrick McGee, Author of 'Apple in China'
- Multi-Billion Dollar Drone Cleaning Market Addressed via New UAE Office, AI Drone and Quantum Computing Solutions in Varied Industries ZenaTech, Inc
- Apple Grove Dental Shares Top Cosmetic Dentistry Trends in Colorado Springs
- Spac Recovery Co. Files $590 Million Lawsuit Against Blackstone Products, Nomura , Franklin Square, Oaktree et al
- Colorado Springs: Pikes Peak Regional Office of Emergency Management previews advanced evacuation plan
- NBA Champion Lamar Odom Launches Anti-Addiction Meme Coin, Sparking Disruptive Innovation in Web3
- Plan Signed to Purchase Kadima Neuropsychiatry Institute as Clinical Treatment Model and Leading Investigative Site Addressing Suicidal Depression
- Tribeca Film Festival Official Podcast Selection Lead Features Hollywood Stars, Focuses On Ending Childhood Lead Poisoning In New York!
- Industrial Parts Fittings Champions the Revival of American Manufacturing
- $34 Billion Market in 2025 Advancing to $45 Billion in 2026 for Phase III Development of New Blood Thinner, Less Problematic Than Warfrain: $CVKD
- Pikmykid Launches $100,000 School Safety Grant Giveaway to Support K–12 Schools Across the U.S
- Slotozilla Data Report: Unveiling 2024's Gaming Statistics
- BD Launches Landmark Cell Analyzer Featuring Breakthrough Spectral and Real-Time Cell Imaging Technologies