Vista Energy (VIST) Jumps 18.66% on JPMorgan PT, Rating Upgrade

We recently published 10 Big Names Crushing Wall Street. Vista Energy SAB de CV (NYSE:VIST) is one of the top-performing stocks on Monday.

Vista Energy extended its winning streak to a fourth consecutive day on Monday, jumping 18.66 percent to close at $47.50 apiece as investors took path from JP Morgan’s price target upgrade and maintained bullish rating for its stock.

In a market note on Monday, JP Morgan raised its price target for Vista Energy SAB de CV (NYSE:VIST) to $56 from $50 previously—more than a week after cutting the figure from $57 to $50—while maintaining a “buy” recommendation for its stock.

The revision followed the company’s stellar earnings and production performance for the third quarter of the year, having jumped by 91 percent and 73 percent, respectively.

In its financial statement, Vista Energy SAB de CV (NYSE:VIST) said net income jumped to $315 million in the third quarter of the year from $165 million in the same period last year. Revenues increased by 52.8 percent to $706 million from $462 million year-on-year on the back of higher oil production and a sequential jump in oil prices.

During the quarter, Vista Energy SAB de CV (NYSE:VIST) said oil production increased to 109,677 barrels per day (bbpd) from only 63,499 bbpd in the same period last year, but crude oil prices dropped by 5 percent to an average of $64.6 per barrel year-on-year.

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Disclosure: None. This article is originally published at Insider Monkey.