Earthstone Energy (NYSE:ESTE – Get Rating) had its target price upped by investment analysts at Truist Financial from $30.00 to $35.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective indicates a potential upside of 156.41% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the stock. Stephens started coverage on shares of Earthstone Energy in a report on Wednesday, April 13th. They set an “equal weight” rating and a $15.00 price objective for the company. TheStreet lowered shares of Earthstone Energy from a “b” rating to a “c+” rating in a report on Tuesday, May 24th. StockNews.com lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Wells Fargo & Company increased their price objective on shares of Earthstone Energy from $13.00 to $17.00 and gave the company an “underweight” rating in a report on Monday, March 14th. Finally, Royal Bank of Canada increased their price objective on shares of Earthstone Energy from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research 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, Earthstone Energy has an average rating of “Hold” and an average target price of $21.79.
Earthstone Energy stock opened at $13.65 on Wednesday. The firm has a 50 day moving average of $16.26 and a 200 day moving average of $14.02. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 71.84 and a beta of 2.14. Earthstone Energy has a 12-month low of $7.01 and a 12-month high of $22.25. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50.
Earthstone Energy (NYSE:ESTE – Get Rating) last released its earnings results on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.22. The company had revenue of $196.10 million during the quarter, compared to analyst estimates of $166.65 million. Earthstone Energy had a net margin of 1.45% and a return on equity of 16.38%. The firm’s quarterly revenue was up 159.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. On average, analysts predict that Earthstone Energy will post 4.43 EPS for the current year.
In related news, CFO Mark Lumpkin, Jr. sold 30,000 shares of the firm’s stock in a transaction on Thursday, April 21st. The stock was 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 $3,429,926.91. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the director now owns 93,450 shares of the company’s stock, valued at $1,279,330.50. The disclosure for this sale can be found here. Insiders have sold a total of 97,500 shares of company stock valued at $1,419,175 over the last quarter. Corporate insiders own 3.80% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank bought a new stake in Earthstone Energy in the first quarter worth $41,000. Bank of America Corp DE lifted its position in shares of Earthstone Energy by 17.2% during the first quarter. Bank of America Corp DE now owns 207,628 shares of the oil and gas producer’s stock worth $2,623,000 after purchasing an additional 30,452 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of Earthstone Energy during the first quarter worth $1,311,000. Jane Street Group LLC bought a new stake in shares of Earthstone Energy during the first quarter worth $217,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Earthstone Energy during the first quarter worth $11,219,000.
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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