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Earthstone Energy (NYSE:ESTE) Price Target Increased to $35.00 by Analysts at Truist Financial – MarketBeat

Written by Amanda

Earthstone Energy (NYSE:ESTEGet Rating) had its price objective lifted by analysts at Truist Financial from $30.00 to $35.00 in a report released on Wednesday, The Fly reports. Truist Financial’s price target suggests a potential upside of 115.12% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TheStreet lowered Earthstone Energy from a “b” rating to a “c+” rating in a research note on Tuesday, May 24th. Wells Fargo & Company increased their target price on Earthstone Energy from $13.00 to $17.00 and gave the stock an “underweight” rating in a research note on Monday, March 14th. Royal Bank of Canada increased their target price on Earthstone Energy from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stephens began coverage on Earthstone Energy in a research note on Wednesday, April 13th. They set an “equal weight” rating and a $15.00 target price on the stock. Finally, StockNews.com lowered Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.79.

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NYSE:ESTE opened at $16.27 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $16.32 and its two-hundred day moving average price is $13.99. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 85.63 and a beta of 2.14. Earthstone Energy has a 12-month low of $7.01 and a 12-month high of $22.25.

Earthstone Energy (NYSE:ESTEGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.22. The firm 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%. The business’s revenue for the quarter was up 159.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. Equities research analysts expect that Earthstone Energy will post 4.43 EPS for the current year.

In other Earthstone Energy news, Director Jay Frederick Joliat sold 17,500 shares of the firm’s stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $13.69, for a total value of $239,575.00. Following the sale, the director now owns 93,450 shares of the company’s stock, valued at approximately $1,279,330.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Lumpkin, Jr. sold 30,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 208,253 shares in the company, valued at approximately $3,429,926.91. The disclosure for this sale can be found here. Insiders have sold 97,500 shares of company stock worth $1,419,175 in the last three months. 3.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in shares of Earthstone Energy by 17.2% during 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. bought a new position in Earthstone Energy during the 1st quarter worth $1,311,000. Jane Street Group LLC bought a new position in Earthstone Energy during the 1st quarter worth $217,000. Penn Capital Management Company LLC bought a new position in Earthstone Energy during the 1st quarter worth $11,219,000. Finally, Point72 Hong Kong Ltd bought a new position in Earthstone Energy during the 1st quarter worth $118,000.

Earthstone Energy Company Profile (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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Source: marketbeat.com

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai