10 Best Performing Energy Stocks in 2024

07. Vista Energy, S.A.B. de C.V. (NYSE:VIST)

Year to date Share Price Gain: 69.33%

Number of Hedge Fund Holders: 18

Vista Energy, S.A.B. de C.V. (NYSE:VIST) has been one of the best-performing energy stocks in 2024, achieving a remarkable year-to-date share price gain of 69.33%. This strong performance can be attributed to the company’s robust fundamentals, impressive production growth, and efficient cost management. Vista Energy is well-positioned in the energy sector with a focus on the exploration and production of oil and gas across Latin America, particularly in Argentina’s Neuquina Basin and the highly productive Vaca Muerta region. The company’s solid financials and operational metrics make it a compelling choice for energy investors.

In the second quarter of 2024, Vista Energy, S.A.B. de C.V. (NYSE:VIST) total production soared to 65,300 barrels of oil equivalent per day (BOE/d), marking a 40% year-over-year increase. Oil production specifically rose by an impressive 46%, with the company producing 57,200 barrels of oil per day. These significant gains were fueled by the tie-in of 48 new wells over the past year, contributing to higher production levels and ensuring future growth potential.

Financially, Vista Energy’s performance was equally strong. The company’s revenues reached $397 million in Q2, representing a 66% increase compared to the same period in 2023. This revenue growth was bolstered by rising oil prices and higher production volumes. The company maintained a disciplined cost structure, with a lifting cost of $4.5 per BOE, reflecting a 6% year-over-year reduction. This focus on cost efficiency, coupled with strong revenue growth, drove Vista Energy’s adjusted EBITDA to $288 million, a 90% increase year-over-year, with an EBITDA margin of 70%.

Vista Energy, S.A.B. de C.V. (NYSE:VIST) robust balance sheet is another highlight, with a net leverage ratio of 0.56x adjusted EBITDA, indicating the company’s prudent financial management. Free cash flow reached $8 million, despite increased capital expenditures driven by well completions and infrastructure projects. With its strong operational performance, expanding production capacity, and efficient cost management, Vista Energy, S.A.B. de C.V. (NYSE:VIST) remains a top contender in the energy sector, positioning itself for continued success in the coming quarters.