• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    SEC Form SC 13D/A filed by Civitas Resources Inc. (Amendment)

    5/20/24 9:28:56 PM ET
    $CIVI
    Oil & Gas Production
    Energy
    Get the next $CIVI alert in real time by email
    SC 13D/A 1 tm2414997d1_sc13da.htm SC 13D/A

     

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13D

     

    Under the Securities Exchange Act of 1934

    (Amendment No. 3)*

     

    Civitas Resources, Inc.

    (Name of Issuer)

     

    Common Stock, par value $0.01

    (Title of Class of Securities)

     

    17888H 103

    (CUSIP Number)

     

    Kathryn Daniels

    Canada Pension Plan Investment Board

    CPPIB Crestone Peak Resources Canada Inc.

    One Queen Street East, Suite 2500

    Toronto, Ontario M5C 2W5 Canada

    (416) 868-4075

    (Name, Address and Telephone Number of Person
    Authorized to Receive Notices and Communications)

     

    May 20, 2024

    (Date of Event Which Requires Filing of This Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. ¨

     

    Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

     

     

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

     

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     

     

     

    CUSIP No. 17888H 103 13D Page 1 of 5 pages

     

    1

    Names of Reporting Persons

     

    Canada Pension Plan Investment Board

    2

    Check the Appropriate Box if a Member of a Group (See Instructions)

     

    (a)   ¨
    (b)   ¨
    3

    SEC Use Only

     

     
    4

    Source of Funds (See Instructions)

     

    OO

     

    5

    Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨

     

    6

    Citizenship or Place of Organization

     

    Canada

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY EACH
    REPORTING
    PERSON
    WITH
    7

    Sole Voting Power

     

    0

    8

    Shared Voting Power

     

    9,524,201

    9

    Sole Dispositive Power

     

    0

    10

    Shared Dispositive Power

    9,524,201

    11

    Aggregate Amount Beneficially Owned by Each Reporting Person

     

    9,524,201

    12

    Check if the Aggregate Amount in Row (11) Excludes Certain Shares ¨

     

    13

    Percent of Class Represented by Amount in Row (11)

     

    9.5%1

    14

    Type of Reporting Person

     

    CO

     

     

     

    1 Calculated based on the 100,091,389 shares of common stock of the issuer outstanding as of April 26, 2024, as reported in the issuer’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 2, 2024.

     

     

     

    CUSIP No. 17888H 103 13D Page 2 of 5 pages

     

    1

    Names of Reporting Persons

     

    CPPIB Crestone Peak Resources Canada Inc.

    2

    Check the Appropriate Box if a Member of a Group (See Instructions)

     

    (a)   ¨
    (b)   ¨
    3

    SEC Use Only

     

     
    4

    Source of Funds (See Instructions)

     

    OO

     

    5

    Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨

     

    6

    Citizenship or Place of Organization

     

    Canada

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY EACH
    REPORTING
    PERSON
    WITH
    7

    Sole Voting Power

     

    0

    8

    Shared Voting Power

     

    9,524,201

    9

    Sole Dispositive Power

     

    0

    10

    Shared Dispositive Power

    9,524,201

    11

    Aggregate Amount Beneficially Owned by Each Reporting Person

     

    9,524,201

    12

    Check if the Aggregate Amount in Row (11) Excludes Certain Shares ¨

     

    13

    Percent of Class Represented by Amount in Row (11)

     

    9.5%2

    14

    Type of Reporting Person

     

    CO

     

     

     

    2 Calculated based on the 100,091,389 shares of common stock of the issuer outstanding as of April 26, 2024, as reported in the issuer’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 2, 2024.

     

     

     

    CUSIP No. 17888H 103 13D Page 3 of 5 pages

     

    Explanatory Note

     

    This Amendment No. 3 to Schedule 13D (“Amendment No. 3”) amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission on November 12, 2021 and amended on January 27, 2023 and May 17, 2024 (as so amended prior to the date hereof, the “Schedule 13D”), relating to the shares of Common Stock, par value $0.01 per share (“Common Stock”), of Civitas Resources, Inc., a Delaware corporation (the “Issuer”). Capitalized terms used herein without definition shall have the meanings set forth in the Schedule 13D.

     

    Item 4.Purpose of Transaction.

     

    Item 4 of the Schedule 13D is hereby amended and supplemented by inserting the following information:

     

    On May 20, 2024, CPPIB Crestone Peak Resources Canada Inc. (“CP Canada”) sold 6,956,520 shares of Common Stock at a price of $73.22 per share to BofA Securities, Inc. pursuant to the Underwriting Agreement.

     

    Item 5.Interest in Securities of the Issuer.

     

    Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:

     

    (a) – (b)

     

    The following sets forth, as of the date of this Schedule 13D, the aggregate number of shares of Common Stock and percentage of Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of, or shared power to dispose or to direct the disposition of, as of the date hereof (the ownership percentages set forth below are calculated based on the 100,091,389 shares of Common Stock outstanding as of April 26 2024, as reported in the Issuer’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 2, 2024):

     

    Reporting Person 

    Amount

    beneficially

    owned

      

    Percent

    of class

      

    Sole power
    to vote or

    to direct
    the vote

       Shared
    power to
    vote or to
    direct the
    vote
       Sole power
    to dispose
    or to direct
    the
    disposition
       Shared
    power to
    dispose or to
    direct the
    disposition
     
    Canada Pension Plan Investment Board   9,524,201    9.5%   0    9,524,201         0    9,524,201 
    CPPIB Crestone Peak Resources Canada Inc.   9,524,201    9.5%      0    9,524,201    0    9,524,201 

     

    CP Canada directly owns 9,524,201 shares of Common Stock and Canada Pension Plan Investment Board (“CPPIB”) is an indirect beneficial owner of such Common Stock owned by CP Canada. CP Canada and CPPIB have shared voting power and shared dispositive power with respect to such 9,524,201 shares.

     

     

     

    CUSIP No. 17888H 103 13D Page 4 of 5 pages

     

    (c)       Except as described in Item 4 of the Schedule 13D, during the past 60 days, the Reporting Persons have not effected any transactions with respect to the Common Stock.

     

    (d)       None.

     

    (e)       Not applicable.

     

     

     

    CUSIP No. 17888H 103 13D Page 5 of 5 pages

     

    SIGNATURES

     

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Date: May 20, 2024

     

      Canada Pension Plan Investment Board
       
      By: /s/ Kathryn Daniels
      Name: Kathryn Daniels
      Title: Managing Director, Head of Compliance, Legal
       
       
      CPPIB Crestone Peak Resources Canada Inc.
       
      By: /s/ Ryan Barry
      Name: Ryan Barry
      Title: Secretary

     

    This Amendment No. 3 to Schedule 13D is executed on behalf of Canada Pension Plan Investment Board pursuant to a Power of Attorney, incorporated by reference to Exhibit 5 of Amendment No. 2 to Schedule 13D filed by the reporting persons on May 17, 2024.

     

     

    Get the next $CIVI alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $CIVI

    DatePrice TargetRatingAnalyst
    5/30/2025$40.00Outperform → Sector Perform
    RBC Capital Mkts
    5/15/2025$34.00Buy → Neutral
    Roth Capital
    3/24/2025$50.00 → $42.00Outperform → Market Perform
    BMO Capital Markets
    3/5/2025$80.00 → $42.00Buy → Hold
    Siebert Williams Shank
    2/26/2025$68.00 → $62.00Overweight → Neutral
    Analyst
    2/25/2025Outperform → Neutral
    Pickering Energy Partners
    2/25/2025Overweight → Sector Weight
    KeyBanc Capital Markets
    1/10/2025$64.00Overweight
    Morgan Stanley
    More analyst ratings