Civitas Is A Risky Play At Bottom-Of-The-Market Prices

Summary

• Civitas' stock has been hammered YTD, falling by more than 45% due to lower WTI prices and production cuts.
• Yet, the company has an incredibly low valuation despite quality assets, and a sale of its DJ basin's operations could reduce substantially its debt.
• The company also has an aggressive capital return policy that can reward long-term shareholders thanks to its low breakeven WTI prices.