Mexico City-based Vista Energy, S.A.B. de C.V. (NYSE: VIST; BMV: VISTA), a company specialized in crude petroleum and natural gas, has announced the repurchase of 35,000 of its Series A shares. The transaction took place on Monday, at a price of 946.39 Mexican Pesos per share, totaling approximately 33,123,650 Mexican Pesos, excluding fees and taxes.
This buyback is part of a program authorized by Vista's shareholders at a general ordinary meeting on August 6, 2024. Following the repurchase, the total number of outstanding Series A shares is 95,480,885, with 3,300,141 shares held in Treasury as a result of the company's buyback activities.
For the execution of these repurchases, Vista engaged the services of Citibanamex Casa de Bolsa, S.A. de C.V., a brokerage firm part of the Citibanamex Financial Group.
The company's strategic planning and investor relations officer, Alejandro Cherñacov, has confirmed the details of the transaction, which have been duly reported to the United States Securities and Exchange Commission in a 6-K form. This filing keeps investors informed about the company's latest financial decisions and the effects on its stock availability.
Investors and interested parties can direct their inquiries to Vista's investor relations department through the provided contact information. The company maintains its commitment to transparency and adherence to the regulations of both the New York and Mexican Stock Exchanges where its shares are traded.
This news is based on a press release statement issued by Vista Energy, S.A.B. de C.V. and reflects the company's latest strategic financial actions.
In addition to these financial maneuvers, Vista Energy reported substantial growth in its Q2 2024 results. The company's total production surged by 40% year-over-year to 65,300 barrels of oil equivalent per day. The increase in production led to a 66% rise in total revenues for the quarter, reaching $397 million. Moreover, the company's adjusted EBITDA saw a significant rise of 90% year-over-year to $288 million.
JPMorgan (NYSE:JPM) initiated coverage on Vista Energy, assigning an Overweight rating. JPMorgan highlighted several key attributes that set Vista apart in the industry, including its focus on the Vaca Muerta basin, operating as a private entity led by its founders, and a proven track record with potential for significant growth. These are recent developments that highlight the company's commitment to sustained growth and strategic expansion.
InvestingPro Insights
Following the recent share repurchase announcement by Vista Energy, S.A.B. de C.V., investors may find particular interest in the company's financial health and market performance. According to real-time data from InvestingPro, Vista Energy boasts a market capitalization of $4.72 billion and an attractive price-to-earnings (P/E) ratio of 10.99, suggesting that the shares are trading at a reasonable price relative to the company's earnings.
With a gross profit margin of 76.14% over the last twelve months as of Q2 2024, Vista Energy demonstrates a robust ability to retain earnings after the cost of goods sold, which is a positive indicator for potential investors. Moreover, the company has experienced a noteworthy revenue growth of 6.74% during the same period, reflecting its operational success.
InvestingPro Tips highlight that analysts are optimistic about the company's sales growth in the current year and note Vista's impressive gross profit margins. These insights, coupled with the fact that the company is trading at a low P/E ratio relative to near-term earnings growth, provide a compelling case for investors considering the stock. For those seeking more in-depth analysis, there are 16 additional InvestingPro Tips available for Vista Energy at https://www.investing.com/pro/VIST, offering a comprehensive look at the company's financial outlook.
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