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Vista Energy's Shares Gain 10% Despite Q3 Earnings Miss
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Vista Energy S.A.B. de CV (VIST - Free Report) gained 10.2% despite reporting weak third-quarter 2024 earnings on Oct. 24. The company’s expectations for higher production are likely to have aided the price performance.
VIST’s Q3 Earnings & Revenues
The upstream energy player reported third-quarter adjusted earnings per share of 55 cents, which missed the Zacks Consensus Estimate of $1.36. The bottom line also decreased from the prior-year quarter’s level of $1.29.
The leading independent oil and gas producer’s quarterly revenues of $462.4 million increased from $302.8 million in the year-ago period. The top line also beat the Zacks Consensus Estimate of $442.5 million.
The weak quarterly earnings of VIST, currently carrying a Zacks Rank #5 (Strong Sell), were primarily due to higher lifting expenses. This was offset partially by increased production and realized commodity prices. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR Price, Consensus and EPS Surprise
Total production averaged 72,825 barrels of oil equivalent per day (Boe/d), up from the year-ago quarter’s 49,450 Boe/d. Of the total output, 87.2% was crude oil. Overall production was higher than the year-ago period’s level due to higher well activities.
Crude oil production increased to 63,499 barrels per day (Bbls/d) from the year-ago quarter’s 41,490 Bbls/d. Natural gas liquids production increased 36%, while natural gas output rose 16%.
VIST’s Realized Prices
The average realized crude oil price was $68.4 per barrel, increasing from the year-ago figure of $67.6.
The average realized natural gas price was $3.8 per million Btu, up from $3.3 reported in the year-ago quarter. Realized natural gas liquids price increased to $315 per metric ton from $233.
Lifting Expenses of VIST
Lifting costs in the September quarter of 2024 were $31.6 million, rising 44% year over year to $21.9 million. However, lifting costs per barrel of oil equivalent was $4.7, reflecting a decline of 2% from $4.8 in the prior-year quarter.
VIST’s Balance Sheet & Capital Spending
As of Sept. 30, 2024, Vista Energy had $256.03 million in cash, bank balances and other short-term investments. The company had a total long-term debt of $725.2 million and a short-term debt of $249.9 million as of the same date.
Capital expenditure totaled $368.5 million. Net cash provided by operating activities was $254.9 million.
Guidance
Vista aims to reach 85 MBoE/d in the fourth quarter of this year, with an annual target of 68 to 70 MBoE/d for 2024. For 2025, the upstream energy company anticipates production to grow to 95 to 100 MBoE/d.
The exploration and production company’s projected adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2024 lies in the range of $1,000 to $1,150 million, while the same for 2025 is expected to increase to $1,500-$1,650 million. Vista plans a capital expenditure allocation of $1.1-$1.3 billion for 2025.
Upcoming Releases
Among the energy giants that are set to report earnings this week are Exxon Mobil Corporation (XOM - Free Report) , Chevron Corporation (CVX - Free Report) and ConocoPhillips (COP - Free Report) . While ExxonMobil and Chevron are integrated energy majors, ConocoPhillips is a well-known energy company with mostly upstream energy presence.
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Vista Energy's Shares Gain 10% Despite Q3 Earnings Miss
Vista Energy S.A.B. de CV (VIST - Free Report) gained 10.2% despite reporting weak third-quarter 2024 earnings on Oct. 24. The company’s expectations for higher production are likely to have aided the price performance.
VIST’s Q3 Earnings & Revenues
The upstream energy player reported third-quarter adjusted earnings per share of 55 cents, which missed the Zacks Consensus Estimate of $1.36. The bottom line also decreased from the prior-year quarter’s level of $1.29.
The leading independent oil and gas producer’s quarterly revenues of $462.4 million increased from $302.8 million in the year-ago period. The top line also beat the Zacks Consensus Estimate of $442.5 million.
The weak quarterly earnings of VIST, currently carrying a Zacks Rank #5 (Strong Sell), were primarily due to higher lifting expenses. This was offset partially by increased production and realized commodity prices. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR Price, Consensus and EPS Surprise
Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR price-consensus-eps-surprise-chart | Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR Quote
Q3 Production of VIST
Total production averaged 72,825 barrels of oil equivalent per day (Boe/d), up from the year-ago quarter’s 49,450 Boe/d. Of the total output, 87.2% was crude oil. Overall production was higher than the year-ago period’s level due to higher well activities.
Crude oil production increased to 63,499 barrels per day (Bbls/d) from the year-ago quarter’s 41,490 Bbls/d. Natural gas liquids production increased 36%, while natural gas output rose 16%.
VIST’s Realized Prices
The average realized crude oil price was $68.4 per barrel, increasing from the year-ago figure of $67.6.
The average realized natural gas price was $3.8 per million Btu, up from $3.3 reported in the year-ago quarter. Realized natural gas liquids price increased to $315 per metric ton from $233.
Lifting Expenses of VIST
Lifting costs in the September quarter of 2024 were $31.6 million, rising 44% year over year to $21.9 million. However, lifting costs per barrel of oil equivalent was $4.7, reflecting a decline of 2% from $4.8 in the prior-year quarter.
VIST’s Balance Sheet & Capital Spending
As of Sept. 30, 2024, Vista Energy had $256.03 million in cash, bank balances and other short-term investments. The company had a total long-term debt of $725.2 million and a short-term debt of $249.9 million as of the same date.
Capital expenditure totaled $368.5 million. Net cash provided by operating activities was $254.9 million.
Guidance
Vista aims to reach 85 MBoE/d in the fourth quarter of this year, with an annual target of 68 to 70 MBoE/d for 2024. For 2025, the upstream energy company anticipates production to grow to 95 to 100 MBoE/d.
The exploration and production company’s projected adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2024 lies in the range of $1,000 to $1,150 million, while the same for 2025 is expected to increase to $1,500-$1,650 million. Vista plans a capital expenditure allocation of $1.1-$1.3 billion for 2025.
Upcoming Releases
Among the energy giants that are set to report earnings this week are Exxon Mobil Corporation (XOM - Free Report) , Chevron Corporation (CVX - Free Report) and ConocoPhillips (COP - Free Report) . While ExxonMobil and Chevron are integrated energy majors, ConocoPhillips is a well-known energy company with mostly upstream energy presence.