US Bancorp DE trimmed its position in shares of Earthstone Energy, Inc. (NYSE:ESTE – Free Report) by 91.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,230 shares of the oil and gas producer’s stock after selling 65,434 shares during the period. US Bancorp DE’s holdings in Earthstone Energy were worth $81,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in ESTE. Ameritas Investment Partners Inc. grew its holdings in Earthstone Energy by 44.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 739 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Earthstone Energy by 56.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,198 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 796 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Earthstone Energy by 5.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 17,317 shares of the oil and gas producer’s stock worth $246,000 after acquiring an additional 928 shares in the last quarter. Legal & General Group Plc grew its holdings in Earthstone Energy by 5.7% during the 4th quarter. Legal & General Group Plc now owns 21,092 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 1,138 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Earthstone Energy by 17.6% during the 1st quarter. Captrust Financial Advisors now owns 9,184 shares of the oil and gas producer’s stock worth $116,000 after acquiring an additional 1,375 shares in the last quarter. 69.94% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Earthstone Energy news, major shareholder Warburg Pincus Partners Ii (Us sold 5,000,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $14.52, for a total transaction of $72,600,000.00. Following the sale, the insider now directly owns 7,868,234 shares in the company, valued at approximately $114,246,757.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research firms have recently commented on ESTE. Benchmark lifted their price target on shares of Earthstone Energy from $23.00 to $29.00 in a report on Friday, June 16th. Capital One Financial began coverage on shares of Earthstone Energy in a report on Wednesday, July 19th. They issued an “overweight” rating and a $27.00 price target for the company. Mizuho reaffirmed a “neutral” rating and issued a $22.00 price target on shares of Earthstone Energy in a report on Tuesday, August 22nd. Stephens reaffirmed an “overweight” rating and issued a $21.00 price target on shares of Earthstone Energy in a report on Wednesday, July 19th. Finally, StockNews.com began coverage on shares of Earthstone Energy in a report on Thursday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.
Read Our Latest Stock Analysis on Earthstone Energy
Earthstone Energy Trading Up 2.0 %
Shares of NYSE:ESTE opened at $20.79 on Friday. The company has a market cap of $2.92 billion, a PE ratio of 4.90 and a beta of 2.11. The company’s 50-day moving average price is $16.02 and its 200 day moving average price is $14.22. Earthstone Energy, Inc. has a fifty-two week low of $10.65 and a fifty-two week high of $21.03. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.41.
Earthstone Energy (NYSE:ESTE – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). The firm had revenue of $370.01 million during the quarter, compared to the consensus estimate of $350.15 million. Earthstone Energy had a net margin of 25.40% and a return on equity of 22.08%. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 earnings per share. Sell-side analysts anticipate that Earthstone Energy, Inc. will post 3.29 earnings per share for the current year.
Earthstone Energy Profile
Earthstone Energy, Inc, operates as an independent oil and gas company in the United States. It engages in the acquisition and development of oil and gas reserves through drilling and development of undeveloped leases, as well as asset and corporate acquisitions and mergers. The company’s asset portfolio includes the Midland Basin in West Texas, Delaware Basin in New Mexico, and the Eagle Ford trend located in southern Gonzales County, Texas.
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