Civitas Resources Inc (CIVI)

Shares of Civitas Resources (CIVI) dropped by 8.11% from $77.21 to $70.95 in the trading on Wednesday October 4, 2023. The CIVI stock is down due to the company's agreement to pay $2.1 billion to Vencer Energy, a business backed by Luxembourg-based investment holding company Vitol, for the acquisition of oil-producing assets located in the Midland Basin of West Texas. The transaction is set to conclude in January.