Earthstone Energy, Inc. (NYSE:ESTE – Get Rating) shares earned a consensus “Hold” recommendation from the nine brokerages that currently cover the stock, MarketBeat Ratings reports. One investment analyst rated the stock with a sell recommendation, three assigned a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among brokerages that have covered the stock over the past year is $23.00.
Several analysts have recently commented on the stock. Royal Bank of Canada has upgraded Earthstone Energy’s shares from an “outperforming” rating to an “sector outperforming” rating and has set a price target of $21.00 for the company. in a report on Wednesday July 6. StockNews.com moved shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, May 13. TheStreet upgraded Earthstone Energy shares from a ‘b’ rating to a ‘c+’ rating in a Tuesday, May 24 report. Wells Fargo & Company raised its price target on Earthstone Energy shares from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Stephens began covering Earthstone Energy shares in a research note on Wednesday, April 13. They issued an “equal weight” rating and a target price of $15.00 for the company.
Earthstone Energy stock opened at $11.94 on Friday. The company has a debt ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $1.35 billion, a P/E ratio of 62.84 and a beta of 2.19. The company’s 50-day simple moving average is $16.08 and its 200-day simple moving average is $14.20. Earthstone Energy has a fifty-two week low of $7.01 and a fifty-two week high of $22.25.
Earthstone Energy (NYSE:ESTE – Get Rating) last released its quarterly results on Wednesday, May 4. The oil and gas producer reported EPS of $0.78 for the quarter, beating the consensus estimate of $0.56 by $0.22. The company posted revenue of $196.10 million in the quarter, compared to $166.65 million expected by analysts. Earthstone Energy had a net margin of 1.45% and a return on equity of 16.38%. The company’s quarterly revenue increased by 159.4% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.17. On average, analysts expect Earthstone Energy to post EPS of 4.61 for the current fiscal year.
Separately, Chief Financial Officer Mark Lumpkin, Jr. sold 30,000 shares of the company in a trade on Thursday, April 21. The shares were sold at an average price of $16.47, for a total transaction of $494,100.00. Following the transaction, the CFO now owns 208,253 shares of the company, valued at $3,429,926.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, director Jay Frederick Joliat purchased 20,237 shares of the company in a transaction that took place on Wednesday, July 6. The shares were purchased at an average cost of $11.66 per share, for a total transaction of $235,963.42. Following the transaction, the director now directly owns 90,000 shares of the company, valued at approximately $1,049,400. Disclosure of this purchase can be found here. 3.80% of the shares are currently held by insiders.
A number of hedge funds have recently changed their positions in ESTE. Ameritas Investment Partners Inc. increased its position in Earthstone Energy by 44.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer worth $30,000 after acquiring 739 additional shares during the period. Amalgamated Bank bought a new stake in Earthstone Energy in Q1 worth $41,000. Ellevest Inc. increased its stake in Earthstone Energy by 130.1% in the fourth quarter. Ellevest Inc. now owns 4,056 shares of the oil and gas producer valued at $44,000 after purchasing an additional 2,293 shares during the period. Sigma Planning Corp bought a new stake in Earthstone Energy in the 4th quarter at a value of $114,000. Finally, Captrust Financial Advisors increased its stake in Earthstone Energy by 17.6% in the 1st quarter. Captrust Financial Advisors now owns 9,184 shares of the oil and gas producer valued at $116,000 after buying 1,375 additional shares during the period.
Earthstone Energy Company Profile (Get a rating)
Earthstone Energy, Inc, an independent oil and gas company, is engaged in the acquisition, exploration, development and production of oil and gas properties in the United States. The Company’s portfolio of assets includes the Midland Basin of West Texas, the Delaware Basin of New Mexico and the Eagle Ford Trend of South Texas.
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