Vista Energy (VIST) shares are surging 5.81% in pre-market trading on Thursday, following the release of its outstanding third-quarter earnings report. The Mexican oil and gas exploration company significantly outperformed analyst expectations, demonstrating robust growth and financial strength.

Vista Energy reported adjusted earnings of $2.91 per share for the quarter ended September 30, dramatically surpassing the mean analyst expectation of $1.14 per share. This represents a substantial increase from the $1.66 per share reported in the same quarter last year. Revenue also impressed, rising 52.7% year-over-year to $706.14 million, comfortably beating the analyst consensus of $648.47 million. The company's net income for the quarter reached an impressive $315.29 million.

The stellar results have reinforced analyst optimism about Vista Energy's prospects. The current average analyst rating on the shares is "buy," with 9 out of 10 analysts recommending either "strong buy" or "buy." Wall Street's median 12-month price target for Vista Energy stands at $65.00, suggesting a potential upside of about 46.1% from its last closing price. However, investors should note that despite this quarter's strong performance, Vista Energy's shares have lost 35.3% year-to-date, indicating the stock's volatile nature in the oil and gas sector.