Vitesse Energy Q3 revenue beats estimates on higher realized prices
Overview
U.S. oil and gas non-operator's Q3 revenue rose 23% yr/yr, beating analyst expectations
Adjusted net income for Q3 was $2.5 mln, above the sole analyst estimate
Company closed Denver-Julesburg Basin acquisition, revising annual guidance upward
Outlook
Vitesse raises 2026 production guidance to 16,600-17,200 Boe/d from 16,300-17,200 Boe/d
Company increases 2026 drilling and completion capex forecast to $80-90 mln from $65-80 mln
Vitesse expects oil to comprise 60%-62% of 2026 production, unchanged from prior guidance
Result Drivers
DJ BASIN ACQUISITION - Co said closing of Denver-Julesburg Basin acquisition in September expanded its position and is expected to add meaningful cash flow
HIGHER REALIZED PRICES - Co reported higher realized oil and natural gas prices before hedging, which contributed to revenue growth
DERIVATIVE LOSSES - Net loss driven by non-cash unrealized loss on commodity derivatives, partially offsetting operating gains
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $82.95 mln | $77.80 mln (3 Analysts) |
Q3 Loss Per Share | $0.86 | ||
Q3 Adjusted Net Income | Beat | $2.50 mln | $2 mln (1 Analyst) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Vitesse Energy Inc is $21.50, about 17.5% above its October 30 closing price of $18.30
The stock recently traded at 47 times the next 12-month earnings vs. a P/E of 29 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)