What is the Eagle Ford Shale and how does it differ from Permian?

The Eagle Ford Shale in South Texas is a major unconventional oil and gas play that was a first-mover shale play before the Permian revolution. Eagle Ford wells produce significant amounts of both oil and natural gas liquids (NGLs), but the play is more mature than the Permian Midland and Delaware Basins, which generally have better geology and more remaining inventory. Many operators have shifted capital from Eagle Ford to the Permian over time.

What is a variable dividend and how does it work for E&P companies?

A variable (or 'supplemental') dividend is an additional payment to shareholders beyond any base dividend, sized based on a formula tied to free cash flow generation after base dividend, capex, and sometimes debt reduction. In high oil price environments, variable dividends can be substantial; when oil prices fall and free cash flow declines, variable dividends shrink or disappear. This allows E&P companies to return capital opportunistically while maintaining financial flexibility.

Why have mid-cap E&P companies pursued mergers and consolidations?

Mid-cap E&P consolidation is driven by scale benefits — larger companies can negotiate better service contracts, operate more efficiently, have better credit access and lower borrowing costs, and attract more institutional investor interest. In the DJ Basin, Civitas formed from multiple mergers to create a dominant basin operator that achieved scale advantages previously held only by much larger companies.

brimindinvest.com / compare / sm-vs-creLIVE

SM

SM Energy Company · Energy - Oil & Gas E&P

$27.14

-20.38% this month

VERSUS

⟷

COMPARE

CIVI

Civitas Resources, Inc. · Energy - Oil & Gas E&P

N/A

N/A this month

Scoreboard verdict

Across AI score, momentum, valuation, upside, operating margin

SM

0

CIVI

0

MIXED SETUP

Comparison scoreboard

MIXED SETUP

AI Score

SM 40.4

CIVI N/A

1Y Return

SM +2.81%

CIVI N/A

Fwd P/E

SM 3.41

CIVI N/A

Target Up.

SM +50.28%

CIVI N/A

Op. Margin

SM N/A

CIVI N/A

Metrics last refreshed: 6/20/2026

Quick take

SM vs CIVI Stock Comparison: AI Score, Valuation, Performance and Upside

SM Energy (SM) and Civitas Resources (CIVI) are both mid-cap U.S. E&P companies with Permian Basin presence — SM with a balanced Permian/Eagle Ford Texas focus, versus Civitas with Colorado DJ Basin dominance and Permian expansion. Both prioritize capital returns and unconventional oil production efficiency.

SM vs CIVI compares two mid-cap unconventional E&P operators — SM's Texas-only Permian and Eagle Ford balance versus Civitas' Colorado-dominant DJ Basin with Permian growth expansion and aggressive variable return program.

Live analysis · updated 6/20/2026

SM and CIVI are closely matched — they split the tracked metrics evenly.

Normalized 1Y performance

SM

CIVI

Not enough data to chart yet.

Recent returns

SM

CIVI

Analyst price targets & sentiment

SM · 14 analysts

STRONG BUYHOLDSTRONG SELL

Buy (2.0/5.0)

Price target range

analyst low$30.00
analyst high$61.00
analyst mean$40.79
current price$27.14

+50.3% upside to analyst mean

CIVI

Price target data unavailable

N/A

Who should consider this stock?

SM may suit investors who:

→Want mid-cap Permian Basin and Eagle Ford Texas E&P exposure with a balanced two-basin development strategy
→Value SM's operational track record in Texas unconventional plays with established well productivity
→Prefer a Texas-focused E&P without Colorado's historically more complex regulatory environment for oil and gas operations

CIVI may suit investors who:

→Want the dominant mid-cap DJ Basin operator with Permian expansion and an aggressive variable dividend return program
→Value Civitas' consolidation strategy in Colorado as a path to scale advantages versus smaller individual operators
→See Permian Basin acquisition execution as a pathway to a larger, more diversified mid-cap E&P company

Performance & AI score

Metric	SM	CIVI
AI score	40.4	N/A
AI rank	#1057	N/A
Latest close	$27.14	N/A
1M return	-20.38%	N/A
6M return	+43.51%	N/A
1Y return	+2.81%	N/A

$10,000 invested — hypothetical growth (dividends reinvested)

How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?

Period	SM	CIVI
1Y ago	$10.74K (+7.4%) started 2025-06-18	N/A
5Y ago	$15.78K (+57.8%) started 2021-06-18	N/A
10Y ago	$12.03K (+20.3%) started 2016-06-20	N/A

Hypothetical — past performance does not guarantee future results.

Valuation & upside potential

Metric	SM	CIVI
Market cap	$6.51B	N/A
Trailing P/E	11.45	N/A
Forward P/E	3.41	N/A
Price/Sales	1.80	0.45
EV/Revenue	4.10	N/A
Analyst target	$40.79	N/A
Target upside	+50.28%	N/A

Growth, profitability & risk

Metric	SM	CIVI
Revenue growth	73.00%	N/A
Earnings growth	N/A	N/A
EPS growth	N/A	N/A
FCF margin	+40.03%	N/A
Operating margin	N/A	N/A
Profit margin	3.62%	N/A
ROIC proxy	2.32%	N/A
Return on equity	2.32%	N/A
Dividend yield	3.14%	N/A
Beta	0.71	0.21
Debt/equity	124.61	N/A
Current ratio	0.39	N/A
Quick ratio	0.32	N/A

Drawdown & downside risk

Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.

1Y risk snapshot

SM max drawdown38.16%

CIVI max drawdownN/A

SM max wkly drop14.44%

CIVI max wkly dropN/A

5Y risk snapshot

SM max drawdown65.01%

CIVI max drawdownN/A

SM max wkly drop31.51%

CIVI max wkly dropN/A

10Y risk snapshot

SM max drawdown97.46%

CIVI max drawdownN/A

SM max wkly drop76.01%

CIVI max wkly dropN/A

Performance metrics by period

Period	Metric	SM	CIVI
1Y	Growth	+2.81%	N/A
	CAGR	+2.82%	N/A
	Sharpe ratio	0.22	N/A
	Max drawdown	38.16%	N/A
	Max daily drop	8.60%	N/A
	Max wkly drop	14.44%	N/A
5Y	Growth	+42.78%	N/A
	CAGR	+7.38%	N/A
	Sharpe ratio	0.32	N/A
	Max drawdown	65.01%	N/A
	Max daily drop	17.01%	N/A
	Max wkly drop	31.51%	N/A
10Y	Growth	+5.00%	N/A
	CAGR	+0.49%	N/A
	Sharpe ratio	0.35	N/A
	Max drawdown	97.46%	N/A
	Max daily drop	61.26%	N/A
	Max wkly drop	76.01%	N/A

Business comparison

Category	SM	CIVI
Company	SM Energy Company	Civitas Resources, Inc.
Sector	Energy - Oil & Gas E&P	Energy - Oil & Gas E&P
Industry	N/A	N/A
Core business	SM Energy is a mid-cap independent oil and gas E&P company with operations in the Permian Basin (Midland) and the Eagle Ford Shale in Texas, focusing on developing unconventional oil and gas resources through horizontal drilling and hydraulic fracturing.	Civitas Resources is a Colorado-based E&P company formed from the merger of Bonanza Creek, Extraction Oil & Gas, and others, with operations in the DJ Basin of Colorado and Wyoming and expanded Permian Basin presence through acquisitions.
Investor focus	Investors track SM Energy's oil production growth, Permian Basin well results, Eagle Ford cash flow contributions, capital efficiency (cost per BOE), debt levels, and free cash flow generation at various oil price levels.	Investors track Civitas' DJ Basin production efficiency, Permian acquisition integration, variable dividend and buyback returns, and capital allocation between DJ Basin maintenance and Permian growth.

SM strengths

→Balanced portfolio across Permian Basin and Eagle Ford provides operational diversification within the Texas unconventional plays
→Multi-year inventory of development locations provides extended production visibility beyond current operating period
→Focus on capital efficiency with competitive well costs relative to production results in the Midland Basin

CIVI strengths

→Dominant DJ Basin positioning following multiple Colorado consolidation mergers creates scale advantages in a concentrated geography
→Aggressive shareholder return framework including variable dividends and buybacks tied to free cash flow generation
→Permian Basin expansion through acquisitions diversifies the portfolio beyond Colorado's regulatory environment

Risks to watch — SM

→Mid-cap E&P companies have less financial flexibility than majors when oil prices drop significantly — balance sheet management is critical
→Eagle Ford is a more mature basin than the Permian — production rates may decline faster without ongoing drilling investment
→Permian Basin competition for drilling services and labor from larger operators can increase costs during active drilling periods

Risks to watch — CIVI

→Colorado regulatory environment has historically been more restrictive than Texas for oil and gas permitting and operations
→Integration complexity from multiple acquisition transactions creates execution risk in combined operations
→Variable dividend structure means income investors receive less consistent returns than with fixed dividend programs

Frequently asked questions

The DJ Basin (Denver-Julesburg Basin) is an oil-producing region in Colorado and Wyoming. It is a major producing area but smaller and less prolific on a per-well basis than the Permian Basin. Colorado has historically had more restrictive permitting regulations for oil and gas than Texas, creating additional compliance complexity for DJ Basin operators like Civitas.

AI Prediction SignalNext 5 trading days

Members only

+2.8%BUY

CIVI

+1.1%HOLD

Start Free Trial Log in

ML model trained on historical prices · 14-day free trial · No credit card required

Free public comparison

Want deeper AI forecasts?

This comparison page is public and free forever. Subscribers can unlock saved watchlists, full AI rankings, detailed forecasts, and interactive analysis tools.

Start Free Trial Read Investing Guides

Related comparisons

CIVI vs PR

DJ Basin vs Permian E&P