On Wednesday, Vista Energy, S.A.B. de C.V. (NYSE: VIST; BMV: VISTA), a player in the crude petroleum and natural gas sector, announced the repurchase of 85,000 of its Series A shares. The transaction, executed on Tuesday, was carried out for 979.47 Mexican Pesos per share, amounting to a total of approximately 83.25 million Mexican Pesos, excluding fees and taxes.
The repurchase is in line with the authorization from the company's general ordinary shareholders' meeting on August 6, 2024. Following this buyback, Vista Energy reported that the total number of Series A shares outstanding stands at 95,195,885, with an additional 3,585,141 Series A shares held in Treasury due to previous repurchases.
The operation was conducted through Citibanamex Casa de Bolsa, S.A. de C.V., a member of the Grupo Financiero Citibanamex. This move is part of the company's strategic efforts to manage its share capital.
Vista Energy, headquartered in Mexico City, is incorporated under the laws of Mexico and is listed on both the New York Stock Exchange and the Mexican Stock Exchange. The company has recently undergone a name change from its former identity, Vista Oil & Gas, S.A.B. de C.V., effective December 19, 2018.
This news is based on a press release statement from the company filed with the Securities and Exchange Commission.
In other recent news, Vista Energy has been actively executing a share repurchase plan, buying back 40,000 of its Series A shares across multiple transactions. These repurchases were facilitated by Citibanamex Casa de Bolsa, a brokerage firm part of Grupo Financiero Citibanamex.
Moreover, Vista Energy reported substantial growth in its Q2 2024 results, with total production surging by 40% year-over-year to 65,300 barrels of oil equivalent per day. This increase in production led to a 66% rise in total revenues for the quarter, reaching $397 million. The company's adjusted EBITDA also saw a significant rise of 90% year-over-year to $288 million.
In addition, JPMorgan (NYSE:JPM) initiated coverage on Vista Energy, assigning an Overweight rating. These recent developments reflect Vista Energy's commitment to sustained growth and strategic expansion.
InvestingPro Insights
In light of Vista Energy's recent share repurchase, current and potential investors might find the following InvestingPro Insights valuable for assessing the company's financial health and market position. With a market capitalization of $4.73 billion, Vista Energy demonstrates solid financial stature in the crude petroleum and natural gas sector. The company's P/E ratio, which stands at a competitive 10.95, suggests that its stock could be trading at a reasonable price relative to its near-term earnings growth. This is further supported by an adjusted P/E ratio for the last twelve months as of Q2 2024 at 11.11.
Additionally, Vista Energy's gross profit margin is impressive, reaching 76.14% in the same period. This indicates strong operational efficiency and the company’s ability to maintain profitability. Investors may also be encouraged by the company's revenue growth, which was reported at 6.74% over the last twelve months as of Q2 2024, with a substantial quarterly growth rate of 65.55% in Q2 2024. This aligns with the InvestingPro Tip that analysts anticipate sales growth in the current year.
For those considering the stock's recent performance, Vista Energy has experienced a significant price uptick, with a 35.4% total return over the past six months and an impressive 96.0% over the past year. These metrics, coupled with the InvestingPro Tip that the stock is trading near its 52-week high, may indicate a strong market confidence in the company.
For a comprehensive analysis and additional InvestingPro Tips, investors are encouraged to visit https://www.investing.com/pro/VIST, where 15 more tips are available to provide further insights into Vista Energy's performance and potential investment opportunities.
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