Vtle
Re: Vtle
Vital Energy results:
2021 Actual: Revenues of $1,143.0 million, $145.0 million Net Income ($8.49/share) and Operating Cash flow of $451.2 million ($26.42/share)
2022 Actual: Revenues of $1.798.7 million, $631.5 million Net Income ($37.67/share) and Operating Cash Flow of $800.5 million ($47.75/share)
2023 Estimates: Revenue of $1,517.4 million, $506 million Net Income ($23.28/share) and Operating Cash Flow of $883.1 million ($40.60/share)
Outstanding shares increased from 16,763,000 in 2022 to 21,752,000 in 2023 because they did a stock offering to fund acquisitions that increased production from 77,947 Boepd in Q4 2022 to ~103,500 Boepd in Q4 2023. < Using a combination of cash & stock to fund accretive acquisitions is what we want them to do. I don't want a company of this size to take on too much debt to fund acquisitions. Plus, they need more shares to increase the trading volume.
The new CEO has this team on the right track. They are making strategic acquisitions that will make this pure play Permian Basin company an attractive Takeover Target. < This is the Earthstone Energy "Play Book".
I hope to get Vital Energy to host a webinar for us in December or January.
2021 Actual: Revenues of $1,143.0 million, $145.0 million Net Income ($8.49/share) and Operating Cash flow of $451.2 million ($26.42/share)
2022 Actual: Revenues of $1.798.7 million, $631.5 million Net Income ($37.67/share) and Operating Cash Flow of $800.5 million ($47.75/share)
2023 Estimates: Revenue of $1,517.4 million, $506 million Net Income ($23.28/share) and Operating Cash Flow of $883.1 million ($40.60/share)
Outstanding shares increased from 16,763,000 in 2022 to 21,752,000 in 2023 because they did a stock offering to fund acquisitions that increased production from 77,947 Boepd in Q4 2022 to ~103,500 Boepd in Q4 2023. < Using a combination of cash & stock to fund accretive acquisitions is what we want them to do. I don't want a company of this size to take on too much debt to fund acquisitions. Plus, they need more shares to increase the trading volume.
The new CEO has this team on the right track. They are making strategic acquisitions that will make this pure play Permian Basin company an attractive Takeover Target. < This is the Earthstone Energy "Play Book".
I hope to get Vital Energy to host a webinar for us in December or January.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group