Vista Oil & Gas reports strong Q2 growth with 40% production increase and 66% revenue jump
From Investing.com: 2024-07-14 12:07:50
Vista Oil & Gas (ticker: VISTA) reported a 40% increase in total production to 65,300 BOEs per day, with a 46% rise in oil production alone. Revenues reached $397 million (66% YoY increase), while adjusted EBITDA soared 90% to $288 million. CEO Miguel Galuccio outlined operational progress and future plans, including a second frac crew and updates to the 2025 forecast. The company remains focused on sustaining double-digit production growth, targeting 85,000 BOEs per day in Q4, and participating in M&A opportunities. Despite increased lifting costs, Vista’s strategic initiatives position it for continued growth. With a market cap of $4.6 billion and a revenue increase of 8.19% over the last twelve months, Vista’s efficient operations and potential for profitability make it an attractive investment option. Analysts predict profit in the coming year, and with a low P/E ratio relative to earnings growth and a fair value estimate of $51.2, Vista has room for further growth. For more insights, visit https://www.investing.com/pro/VISTA and use coupon code PRONEWS24 for up to 10% off a Pro subscription. In the second quarter of 2024, Vista Oil & Gas demonstrated strong financial and operational performance, reflecting growth in key metrics and strategic initiatives driving expansion and profitability. CEO Miguel Galuccio highlighted significant production increases, revenue growth, and plans for sustained development, positioning the company for continued success. Stay updated on Vista’s progress and market performance to make informed investment decisions.
Read more at Investing.com: Vista Oil & Gas reports robust growth in Q2 2024 By Investing.com