Earthstone Energy, Inc. (NYSE:ESTE – Get Rating) has earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $23.00.
Several research analysts have recently commented on ESTE shares. Wells Fargo & Company lifted their target price on Earthstone Energy from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, July 11th. TheStreet upgraded Earthstone Energy from a “c” rating to a “b-” rating in a research note on Wednesday, August 10th. Royal Bank of Canada downgraded Earthstone Energy from an “outperform” rating to a “sector perform” rating and set a $21.00 price objective for the company. in a research note on Wednesday, July 6th. StockNews.com downgraded Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Finally, Truist Financial upped their price objective on Earthstone Energy from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 29th.
Earthstone Energy Price Performance
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Shares of ESTE opened at $16.32 on Friday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 8.82 and a beta of 2.10. The stock has a 50 day moving average of $13.82 and a 200-day moving average of $14.38. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. Earthstone Energy has a 52 week low of $7.85 and a 52 week high of $22.25.
Earthstone Energy (NYSE:ESTE – Get Rating) last issued its earnings results on Thursday, August 4th. The oil and gas producer reported $1.29 EPS for the quarter, topping the consensus estimate of $1.10 by $0.19. The company had revenue of $472.50 million during the quarter, compared to analyst estimates of $380.03 million. Earthstone Energy had a return on equity of 25.59% and a net margin of 17.51%. The business’s revenue was up 426.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. As a group, analysts forecast that Earthstone Energy will post 5.11 EPS for the current year.
Insiders Place Their Bets
In other Earthstone Energy news, Director Jay Frederick Joliat purchased 20,237 shares of Earthstone Energy stock in a transaction on Wednesday, July 6th. The stock was bought at an average price of $11.66 per share, for a total transaction of $235,963.42. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at approximately $1,049,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Earthstone Energy news, Chairman Frank Alan Lodzinski sold 26,132 shares of the business’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $11.05, for a total transaction of $288,758.60. Following the completion of the transaction, the chairman now owns 439,076 shares in the company, valued at approximately $4,851,789.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay Frederick Joliat purchased 20,237 shares of Earthstone Energy stock in a transaction on Wednesday, July 6th. The shares were acquired at an average price of $11.66 per share, with a total value of $235,963.42. Following the transaction, the director now directly owns 90,000 shares in the company, valued at approximately $1,049,400. The disclosure for this purchase can be found here. 40.67% of the stock is currently owned by insiders.
Institutional Trading of Earthstone Energy
Several institutional investors have recently modified their holdings of ESTE. Warburg Pincus LLC lifted its holdings in shares of Earthstone Energy by 74.0% in the first quarter. Warburg Pincus LLC now owns 23,030,766 shares of the oil and gas producer’s stock valued at $290,879,000 after buying an additional 9,792,656 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of Earthstone Energy in the first quarter valued at $43,570,000. State Street Corp lifted its holdings in shares of Earthstone Energy by 428.6% in the second quarter. State Street Corp now owns 2,947,629 shares of the oil and gas producer’s stock valued at $40,235,000 after buying an additional 2,390,004 shares during the period. Encap Energy Capital Fund Viii L.P. acquired a new stake in shares of Earthstone Energy in the first quarter valued at $29,087,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Earthstone Energy by 5,643.2% in the first quarter. New York State Common Retirement Fund now owns 1,035,043 shares of the oil and gas producer’s stock valued at $13,073,000 after buying an additional 1,017,021 shares during the period.
Earthstone Energy Company Profile
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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