Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul>
<li>Civitas Resources recently reported its first quarter 2025 results, reflecting a blend of strategic initiatives and challenges tied to the volatile economic environment.</li>
<li>The company, led by CEO Chris Doyle, has taken deliberate steps to adjust its capital expenditures, focusing on maintaining financial flexibility amid a backdrop of fluctuating oil prices and macroeconomic uncertainties.</li>
<li>These adjustments include reducing capital expenditures by approximately $150 million compared to 2024, thus emphasizing a strategy of capital discipline and controlled reinvestment rates without sustaining 2024 production levels.</li>
</ul>


Civitas Resources recently reported its first quarter 2025 results, reflecting a blend of strategic initiatives and challenges tied to the volatile economic environment.
The company, led by CEO Chris Doyle, has taken deliberate steps to adjust its capital expenditures, focusing on maintaining financial flexibility amid a backdrop of fluctuating oil prices and macroeconomic uncertainties.
These adjustments include reducing capital expenditures by approximately $150 million compared to 2024, thus emphasizing a strategy of capital discipline and controlled reinvestment rates without sustaining 2024 production levels.


Civitas Resources: How Are They Optimizing Delaware Basin Operations?

<ul>
<li>Civitas Resources' recent earnings presented a mixed performance for the third quarter of 2024, characterized by both operational achievements and ongoing challenges.</li>
<li>The company's financial and operational results provide a nuanced picture for investors considering both immediate term and long-term perspectives.</li>
<li>Starting with the positives, Civitas reported a strong adjusted EBITDA of $910 million, driven by robust sales volumes and effective cost control measures.</li>
</ul>


Civitas Resources' recent earnings presented a mixed performance for the third quarter of 2024, characterized by both operational achievements and ongoing challenges.
The company's financial and operational results provide a nuanced picture for investors considering both immediate term and long-term perspectives.
Starting with the positives, Civitas reported a strong adjusted EBITDA of $910 million, driven by robust sales volumes and effective cost control measures.


Civitas Resources: Will Its Operational Efficiency & Cost Optimization Help Alter The Playing Field?

<ul>
<li>Civitas Resources provided a detailed overview of its operations and financial results during the second quarter of 2024 earnings.</li>
<li>The company, having undergone significant structural transformations, particularly with its strategic entry into the Permian Basin, demonstrated notable advancements in operational efficiencies and financial performance.</li>
<li>Civitas Resources has demonstrated robust operational success, particularly in integrating and optimizing its Permian assets, which are now producing over 185,000 barrels of oil equivalent per day.</li>
</ul>


Civitas Resources provided a detailed overview of its operations and financial results during the second quarter of 2024 earnings.
The company, having undergone significant structural transformations, particularly with its strategic entry into the Permian Basin, demonstrated notable advancements in operational efficiencies and financial performance.
Civitas Resources has demonstrated robust operational success, particularly in integrating and optimizing its Permian assets, which are now producing over 185,000 barrels of oil equivalent per day.


Civitas Resources: How Are They Leveraging Technological Advancements and Operational Innovations?

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Conocophillips is set to acquire Marathon Oil in an all-stock deal (0.2550 COP US per 1 MRO US) valued at $22.5 billion ($30.33/share), including $5,379 million in net debt.</li>
<li>Most of the frenzy in the US oil industry has focused on the consolidation within the Permian Basin, a maturing region that offers opportunities to reduce costs and increase profitability.</li>
<li>The acquisition of Marathon will add highly complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio. Spread as of 4 June is 2.6%/4.7% (gross/annualised, assuming settlement by late Q4).</li>
</ul>


Conocophillips is set to acquire Marathon Oil in an all-stock deal (0.2550 COP US per 1 MRO US) valued at $22.5 billion ($30.33/share), including $5,379 million in net debt.
Most of the frenzy in the US oil industry has focused on the consolidation within the Permian Basin, a maturing region that offers opportunities to reduce costs and increase profitability.
The acquisition of Marathon will add highly complementary acreage to ConocoPhillips’ existing U.S. onshore portfolio. Spread as of 4 June is 2.6%/4.7% (gross/annualised, assuming settlement by late Q4).


ConocoPhillips/Marathon Oil and Shale Consolidation

<ul>
<li>Civitas Resources' latest 4Q 2023 earnings unpacked the company's robust financial and operational results, strategic progress, capital allocation policy, and its attractive outlook for 2024.</li>
<li>Civitas has successfully executed numerous strategic changes over the past year, aiming to diversify, scale and strengthen its business.</li>
<li>The team successfully entered a second world-class basin, the Permian, through three different large-scale transactions and compelling valuations.</li>
</ul>


Civitas Resources' latest 4Q 2023 earnings unpacked the company's robust financial and operational results, strategic progress, capital allocation policy, and its attractive outlook for 2024.
Civitas has successfully executed numerous strategic changes over the past year, aiming to diversify, scale and strengthen its business.
The team successfully entered a second world-class basin, the Permian, through three different large-scale transactions and compelling valuations.


Civitas Resources: The 4 Fundamental Aspects Fueling Its Growth Uncovered!

United States

Civitas Resources, Inc. operates as an oil and natural gas company. The Company focuses on developing and producing crude oil, natural gas, and natural gas liquids in Colorado's Denver-Julesburg (DJ) Basin. Civitas Resources serves customers in the United States.

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Civitas Resources (CIVI US)

Civitas Resources: How Are They Optimizing Delaware Basin Operations?

Civitas Resources recently reported its first quarter 2025 results, reflecting a blend of strategic initiatives and challenges tied to the volatile...

Baptista Research

Civitas Resources: Will Its Operational Efficiency & Cost Optimization Help Alter The Playing Field?

Civitas Resources' recent earnings presented a mixed performance for the third quarter of 2024, characterized by both operational achievements and...

Baptista Research

Civitas Resources: How Are They Leveraging Technological Advancements and Operational Innovations?

Civitas Resources provided a detailed overview of its operations and financial results during the second quarter of 2024 earnings.

Baptista Research

ConocoPhillips/Marathon Oil and Shale Consolidation

Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...

Jesus Rodriguez Aguilar

Civitas Resources: The 4 Fundamental Aspects Fueling Its Growth Uncovered!

Civitas Resources' latest 4Q 2023 earnings unpacked the company's robust financial and operational results, strategic progress, capital allocation...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Civitas Resources: How Are They Optimizing Delaware Basin Operations?

Civitas Resources recently reported its first quarter 2025 results, reflecting a blend of strategic initiatives and challenges tied to the volatile...

Baptista Research

Civitas Resources: Will Its Operational Efficiency & Cost Optimization Help Alter The Playing Field?

Civitas Resources' recent earnings presented a mixed performance for the third quarter of 2024, characterized by both operational achievements and...

Baptista Research

Civitas Resources: How Are They Leveraging Technological Advancements and Operational Innovations?

Civitas Resources provided a detailed overview of its operations and financial results during the second quarter of 2024 earnings.

Baptista Research

ConocoPhillips/Marathon Oil and Shale Consolidation

​Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...

Jesus Rodriguez Aguilar

Civitas Resources: The 4 Fundamental Aspects Fueling Its Growth Uncovered!

Civitas Resources' latest 4Q 2023 earnings unpacked the company's robust financial and operational results, strategic progress, capital allocation...

Baptista Research

Conocophillips to acquire Marathon Oil in $22.5 billion all-stock deal, focusing on consolidation in Permian Basin for cost reduction and...