Laredo Petroleum is now Vital Energy (VTLE) - Jan 15

[dan_s]

Vital Energy Completes Rebranding
Jan 8, 2023

Fourth-Quarter 2022 Production Expected to Exceed Guidance < Very good news!

TULSA, OK, Jan. 08, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital" or the "Company") today announced the completion of the Company’s rebranding and on Monday, January 9, 2023, will begin trading under the ticker "VTLE" on the NYSE. The Company’s new website is www.vitalenergy.com.

Additionally, Vital updated its outlook for fourth-quarter 2022 production and incurred capital expenditures.

Fourth-Quarter 2022 Production and Incurred Capital Expenditure Outlook

Oil production is expected to be approximately 35.5 thousand barrels of oil per day ("MBO/D"), exceeding guidance of 32.0 - 34.0 MBO/D
Total production is expected to be approximately 77.5 thousand barrels of oil equivalent per day ("MBOE/D"), higher than guidance of 72.5 - 75.5 MBOE/D
Incurred capital expenditures are expected to be within the Company’s guidance range of $135 - $145 million

Fourth-Quarter and Full-Year 2022 Earnings Release and Conference Call

Vital plans to report complete fourth-quarter and full-year 2022 financial and operating results after market close on Tuesday, February 21, 2023, and host a conference call and webcast on Wednesday, February 22, 2023 at 7:30 a.m. CT.

To participate in the call, dial 800.715.9871, using conference code 5063785 or listen to the call via the Company's website at www.vitalenergy.com, "Investor Relations | News & Presentations." A replay will be available following the call via the Company’s website.

About Vital Energy

Vital Energy, Inc. is an independent energy company with headquarters in Tulsa, Oklahoma. Vital's business strategy is focused on the acquisition, exploration and development of oil and natural gas properties in the Permian Basin of West Texas.

Additional information about Vital may be found on its website at www.vitalenergy.com.

[dan_s]

Vital Energy is now expected to report GAAP Net Income over $600 million (over $35/share) for 2022, making it the most profitable company in the Sweet 16 on a GAAP basis. < Reported EPS was $8.49 in 2021.

VTLE closed at $49.96 on January 13, so it is trading at a PE ratio under 1.5. < Please let me know if you can find any other profitable public company trading at a PE ratio under 2.

TipRanks: "In the last 3 months, 6 ranked analysts set 12-month price targets for VTLE. The average price target among the analysts is $79.83."

Average of the six analysts forecasts for 2023:
> Revenues of $1,400 million
> Earnings per share of $27.62
> Operating cash flow per share of $50.33

My updated valuation for VTLE is now $117.00 per share. < Just 2.5 X annualized operating cash flow per share.

VTLE is free cash flow positive. It does not pay a dividend. FCF is being used to pay down debt and buy back common stock. They only have 16.9 million shares outstanding, so the stock repurchase program should have a significant impact on per share results.