Civitas Resources(CIVI) Prnewswire·2025-02-27 01:28Core Viewpoint - Civitas Resources, Inc is under investigation for potential securities fraud and unlawful business practices following disappointing financial results and significant management changes [1][2]. Financial Performance - On February 24, 2025, Civitas reported its financial results for Q4 and full year 2024, revealing that both revenue and non-GAAP EPS fell short of consensus estimates [2]. - The company's stock price dropped by 40.35 per share on February 25, 2025, in response to the financial results announcement [3]. Management Changes - Civitas announced a 10% reduction in its workforce across all levels [2]. - The company terminated its Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly, effective immediately [2].