Earthstone Energy (NYSE:ESTE) had its target price increased by Imperial Capital from $5.00 to $6.00 in a report published on Friday morning, Stock Target Advisor reports. They currently have an outperform rating on the oil and gas producer’s stock. Imperial Capital also issued estimates for Earthstone Energy’s Q4 2019 earnings at $0.16 EPS, Q1 2020 earnings at $0.19 EPS, Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.21 EPS and Q4 2020 earnings at $0.23 EPS.
ESTE has been the topic of several other reports. Northland Securities restated a buy rating and set a $6.00 price objective on shares of Earthstone Energy in a research note on Thursday. SunTrust Banks lowered their price objective on shares of Earthstone Energy from $8.00 to $7.00 and set a buy rating on the stock in a research note on Wednesday, October 16th. Seaport Global Securities lowered shares of Earthstone Energy from a buy rating to a neutral rating in a research note on Thursday, October 10th. Royal Bank of Canada restated a buy rating and set a $10.00 price objective on shares of Earthstone Energy in a research note on Sunday, August 11th. Finally, Zacks Investment Research lowered shares of Earthstone Energy from a buy rating to a hold rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $8.03.
Shares of Earthstone Energy stock traded up $0.20 during trading on Friday, hitting $5.65. 227,918 shares of the stock were exchanged, compared to its average volume of 170,264. The stock has a market capitalization of $309.99 million, a price-to-earnings ratio of 3.92 and a beta of 1.92. The company has a fifty day moving average price of $3.81 and a 200-day moving average price of $4.92. Earthstone Energy has a 1-year low of $3.00 and a 1-year high of $8.12. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.14.
Earthstone Energy (NYSE:ESTE) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $39.20 million for the quarter, compared to analyst estimates of $39.38 million. Earthstone Energy had a net margin of 16.18% and a return on equity of 5.47%. Equities research analysts forecast that Earthstone Energy will post 0.95 EPS for the current fiscal year.
In related news, President Robert John Anderson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $3.20 per share, for a total transaction of $32,000.00. Following the purchase, the president now owns 305,700 shares in the company, valued at $978,240. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 63.04% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ESTE. Bank of Montreal Can boosted its holdings in Earthstone Energy by 168.4% in the 2nd quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 2,567 shares during the period. Jefferies Group LLC bought a new stake in Earthstone Energy in the 2nd quarter valued at about $70,000. Rhumbline Advisers boosted its holdings in Earthstone Energy by 11.0% in the 3rd quarter. Rhumbline Advisers now owns 29,542 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 2,922 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Earthstone Energy in the 2nd quarter valued at about $111,000. Finally, WINTON GROUP Ltd boosted its holdings in Earthstone Energy by 132.3% in the 2nd quarter. WINTON GROUP Ltd now owns 25,239 shares of the oil and gas producer’s stock valued at $154,000 after purchasing an additional 14,374 shares during the period. Institutional investors and hedge funds own 21.32% of the company’s stock.
Earthstone Energy Company Profile
Earthstone Energy, Inc, an independent energy company, engages in the development and operation of oil and gas properties in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2018, the company operated 93 gross Eagle Ford wells; and 13 gross Austin Chalk wells, as well as had 98,847 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 23,646 MBOE of proved developed reserves and 75,201 MBOE of proved undeveloped reserves.
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