Northland Securities reaffirmed their buy rating on shares of Earthstone Energy (NYSE:ESTE) in a report issued on Thursday, AnalystRatings.com reports. The firm currently has a $6.00 price target on the oil and gas producer’s stock.
Several other equities research analysts also recently weighed in on ESTE. Zacks Investment Research downgraded Earthstone Energy from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Seaport Global Securities downgraded Earthstone Energy from a buy rating to a neutral rating in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed a buy rating and issued a $10.00 target price on shares of Earthstone Energy in a research report on Sunday, August 11th. SunTrust Banks decreased their target price on Earthstone Energy from $8.00 to $7.00 and set a buy rating for the company in a research report on Wednesday, October 16th. Finally, Wells Fargo & Co reaffirmed a hold rating on shares of Earthstone Energy in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $8.03.
NYSE:ESTE traded up $0.20 on Thursday, hitting $5.65. 227,918 shares of the stock were exchanged, compared to its average volume of 170,264. The stock has a market cap of $309.99 million, a PE ratio of 3.92 and a beta of 1.92. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $3.81 and a 200-day moving average of $4.92. Earthstone Energy has a fifty-two week low of $3.00 and a fifty-two week high of $8.12.
Earthstone Energy (NYSE:ESTE) last issued its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.05. Earthstone Energy had a return on equity of 5.47% and a net margin of 16.18%. The company had revenue of $39.20 million during the quarter, compared to the consensus estimate of $39.38 million. As a group, analysts predict that Earthstone Energy will post 0.95 earnings per share for the current year.
In other Earthstone Energy news, President Robert John Anderson purchased 10,000 shares of Earthstone Energy stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $3.20 per share, with a total value of $32,000.00. Following the completion of the acquisition, the president now owns 305,700 shares of the company’s stock, valued at approximately $978,240. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 63.04% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ESTE. Bank of Montreal Can lifted its holdings in Earthstone Energy by 168.4% during the 2nd quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 2,567 shares during the last quarter. Jefferies Group LLC bought a new position in Earthstone Energy during the 2nd quarter worth approximately $70,000. Campbell & CO Investment Adviser LLC bought a new position in Earthstone Energy during the 2nd quarter worth approximately $111,000. WINTON GROUP Ltd lifted its holdings in Earthstone Energy by 132.3% during the 2nd quarter. WINTON GROUP Ltd now owns 25,239 shares of the oil and gas producer’s stock worth $154,000 after buying an additional 14,374 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Earthstone Energy by 516.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 28,409 shares of the oil and gas producer’s stock worth $173,000 after buying an additional 23,803 shares during the last quarter. 21.32% of the stock is owned by hedge funds and other institutional investors.
About Earthstone Energy
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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