Earthstone Energy, Inc. (NYSE:ESTE – Get Rating)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $18.88, but opened at $19.69. Earthstone Energy shares last traded at $19.03, with a volume of 2,016 shares traded.
ESTE has been the subject of a number of research analyst reports. TheStreet lowered Earthstone Energy from a “b” rating to a “c+” rating in a report on Tuesday, May 24th. Stephens began coverage on Earthstone Energy in a research note on Wednesday, April 13th. They issued an “equal weight” rating and a $15.00 target price for the company. Truist Financial upped their target price on Earthstone Energy from $25.00 to $30.00 in a research note on Thursday, April 21st. StockNews.com lowered Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Finally, Wells Fargo & Company increased their price objective on Earthstone Energy from $13.00 to $17.00 and gave the stock an “underweight” rating in a research note on Monday, March 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.08.
The company has a market cap of $2.11 billion, a price-to-earnings ratio of 103.47 and a beta of 2.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a 50-day moving average price of $15.76 and a 200 day moving average price of $13.55.
Earthstone Energy (NYSE:ESTE – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.22. The company had revenue of $196.10 million for the quarter, compared to analyst estimates of $166.65 million. Earthstone Energy had a return on equity of 16.38% and a net margin of 1.45%. Earthstone Energy’s revenue was up 159.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. Sell-side analysts expect that Earthstone Energy, Inc. will post 3.84 EPS for the current fiscal year.
In other Earthstone Energy news, Chairman Frank Alan Lodzinski sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $12.24, for a total value of $612,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Lumpkin, Jr. sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $16.47, for a total value of $494,100.00. Following the completion of the transaction, the chief financial officer now owns 208,253 shares of the company’s stock, valued at $3,429,926.91. The disclosure for this sale can be found here. In the last three months, insiders sold 147,500 shares of company stock worth $2,031,175. 49.56% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in Earthstone Energy by 17.2% in the 1st quarter. Bank of America Corp DE now owns 207,628 shares of the oil and gas producer’s stock valued at $2,623,000 after acquiring an additional 30,452 shares in the last quarter. Phocas Financial Corp. acquired a new position in Earthstone Energy in the 1st quarter valued at $1,311,000. Jane Street Group LLC acquired a new position in Earthstone Energy in the 1st quarter valued at $217,000. Penn Capital Management Company LLC acquired a new position in shares of Earthstone Energy during the 1st quarter worth $11,219,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Earthstone Energy during the 1st quarter worth $118,000.
About Earthstone Energy (NYSE:ESTE)
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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