Earthstone Energy, Inc. (NYSE:ESTE) Receives Average Rating of “Hold” from Analysts


Earthstone Energy, Inc. (NYSE: ESTE – Get Rating) has earned an average rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $22.67.

ESTE has been the topic of a number of recent research reports. TheStreet downgraded Earthstone Energy from a “b” rating to a “c+” rating in a research report on Tuesday, May 24th. Royal Bank of Canada downgraded Earthstone Energy from an “outperform” rating to a “sector perform” rating and set a $21.00 target price on the stock. in a research report on Wednesday. Wells Fargo & Company boosted their price target on Earthstone Energy from $13.00 to $17.00 and gave the stock an “underweight” rating in a research report on Monday, March 14th. Stephens assumed coverage on Earthstone Energy in a research report on Wednesday, April 13th. They set an “equal weight” rating and a $15.00 price target on the stock. Finally, Trust Financial boosted their price target on Earthstone Energy from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, June 29th.

NYSE:ESTE opened at $11.91 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50-day simple moving average is $16.11 and its 200 day simple moving average is $14.13. The company has a market cap of $1.35 billion, a P/E ratio of 62.68 and a beta of 2.19. Earthstone Energy has a 52-week low of $7.01 and a 52-week high of $22.25.

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

In other news, EVP Tony Oviedo sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 12th. The stock was 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 of the company’s stock, valued at $2,475,409.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay Frederick Joliat sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $13.69, for a total value of $239,575.00. Following the completion of the transaction, the director now directly owns 93,450 shares in the company, valued at approximately $1,279,330.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,500 shares of company stock worth $1,419,175. Company insiders own 3.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of ESTE. Sigma Planning Corp bought a new stake in shares of Earthstone Energy in the fourth quarter valued at approximately $114,000. Connor Clark & ​​Lunn Investment Management Ltd. boosted its stake in shares of Earthstone Energy by 144.4% in the fourth quarter. Connor Clark & ​​Lunn Investment Management Ltd. Now owns 213,990 shares of the oil and gas producer’s stock valued at $2,341,000 after buying an additional 126,433 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Earthstone Energy by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,490,729 shares of the oil and gas producer’s stock valued at $16,309,000 after buying an additional 99,407 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Earthstone Energy in the fourth quarter valued at approximately $174,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Earthstone Energy by 61.9% in the fourth quarter. Russell Investments Group Ltd. Now owns 280,097 shares of the oil and gas producer’s stock valued at $3,063,000 after buying an additional 107,132 shares during the period.

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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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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