Earthstone Energy, Inc. (NYSE:ESTE) Short Interest Up 30.8% in June


Earthstone Energy, Inc. (NYSE: ESTE – Get Rating) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 9,460,000 shares, an increase of 30.8% from the May 31st total of 7,230,000 shares. Based on an average daily trading volume, of 1,490,000 shares, the short-interest ratio is currently 6.3 days. Currently, 51.7% of the shares of the company are short sold.

A number of equities research analysts have commented on ESTE shares. Wells Fargo & Company raised their price target on Earthstone Energy from $13.00 to $17.00 and gave the company an “underweight” rating in a report on Monday, March 14th. Stephens started coverage on Earthstone Energy in a report on Wednesday, April 13th. They set an “equal weight” rating and a $15.00 price target on the stock. StockNews.com cut Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, May 13th. TheStreet cut Earthstone Energy from a “b” rating to a “c+” rating in a report on Tuesday, May 24th. Finally, Royal Bank of Canada lifted their target price on Earthstone Energy from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Earthstone Energy currently has a consensus rating of “Hold” and a consensus target price of $21.79.

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In related news, CFO Mark Lumpkin, Jr. sold 30,000 shares of Earthstone Energy stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $16.47, for a total transaction of $494,100.00. Following the transaction, the chief financial officer now directly owns 208,253 shares in the company, valued at $3,429,926.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tony Oviedo sold 50,000 shares of Earthstone Energy stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $13.71, for a total value of $685,500.00. Following the transaction, the executive vice president now owns 180,555 shares in the company, valued at $2,475,409.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,500 shares of company stock worth $1,419,175. Company insiders own 3.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ESTE. Ameritas Investment Partners Inc. boosted its position in shares of Earthstone Energy by 44.7% during the first quarter. Ameritas Investment Partners Inc. Now owns 2,393 shares of the oil and gas producer’s shares valued at $30,000 after buying an additional 739 during the period. Amalgamated Bank purchased a new position in shares of Earthstone Energy during the first quarter valued at approximately $41,000. Ellevest Inc. boosted its position in shares of Earthstone Energy by 130.1% during the fourth quarter. Ellevest Inc. Now owns 4,056 shares of the oil and gas producer’s shares valued at $44,000 after buying an additional 2,293 during the period. Sigma Planning Corp purchased a new position in shares of Earthstone Energy during the fourth quarter valued at approximately $114,000. Finally, Captrust Financial Advisors boosted its position in shares of Earthstone Energy by 17.6% during the first quarter. Captrust Financial Advisors now owns 9,184 shares of the oil and gas producer’s stock valued at $116,000 after buying an additional 1,375 shares during the period.

Shares of ESTE stock traded down $0.08 during trading hours on Friday, hitting $13.57. The stock had a trading volume of 1,392,977 shares, compared to its average volume of 2,391,183. The stock’s 50-day moving average price is $16.24 and its two-hundred day moving average price is $14.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. Earthstone Energy has a one year low of $7.01 and a one year high of $22.25. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 71.42 and a beta of 2.18.

Earthstone Energy (NYSE: ESTE – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.22. Earthstone Energy had a return on equity of 16.38% and a net margin of 1.45%. The company had revenue of $196.10 million for the quarter, compared to analysts’ expectations of $166.65 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was up 159.4% on a year-over-year basis. As a group, equities research analysts predict that Earthstone Energy will post 4.61 earnings per share for the current fiscal year.

About Earthstone Energy (Get Rating)

Earthstone Energy, Inc, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States. The company’s asset portfolio includes the Midland Basin of West Texas, Delaware Basin in New Mexico, and the Eagle Ford trend of south Texas.

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