Earthstone Energy, Inc. (NYSE:ESTE) Given Consensus Recommendation of “Buy” by Analysts

Earthstone Energy, Inc. (NYSE:ESTEGet Rating) has been given an average rating of “Hold” by the nine analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of brokerages have recently issued reports on ESTE. Wells Fargo & Company boosted their target price on Earthstone Energy from $13.00 to $17.00 and gave the stock an “underweight” rating in a research report on Monday, March 14th. Stephens started coverage on Earthstone Energy in a research report on Wednesday, April 13th. They set an “equal weight” rating and a $15.00 target price on the stock. StockNews.com lowered Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Zacks Investment Research raised Earthstone Energy from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, April 19th. Finally, Alliance Global Partners upped their price target on Earthstone Energy from $28.00 to $33.00 in a research report on Friday, February 11th.

In other Earthstone Energy news, CFO Mark Lumpkin, Jr. sold 30,000 shares of the business’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $16.47, for a total value of $494,100.00. Following the transaction, the chief financial officer now owns 208,253 shares in the company, valued at $3,429,926.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Frank Alan Lodzinski sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $12.24, for a total value of $612,000.00. The disclosure for this sale can be found here. Insiders sold 147,500 shares of company stock worth $2,031,175 in the last 90 days. Corporate insiders own 52.45% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESTE. William Blair Investment Management LLC boosted its stake in shares of Earthstone Energy by 50,211.3% during the 3rd quarter. William Blair Investment Management LLC now owns 1,750,832 shares of the oil and gas producer’s stock worth $16,108,000 after acquiring an additional 1,747,352 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Earthstone Energy during the 4th quarter worth about $3,377,000. Fisher Asset Management LLC boosted its stake in Earthstone Energy by 144.1% during the 4th quarter. Fisher Asset Management LLC now owns 311,612 shares of the oil and gas producer’s stock valued at $3,409,000 after purchasing an additional 183,965 shares during the period. Assenagon Asset Management S.A. boosted its stake in Earthstone Energy by 1,346.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 193,507 shares of the oil and gas producer’s stock valued at $2,444,000 after purchasing an additional 180,128 shares during the period. Finally, American Century Companies Inc. boosted its stake in Earthstone Energy by 12.4% during the 4th quarter. American Century Companies Inc. now owns 1,552,964 shares of the oil and gas producer’s stock valued at $16,989,000 after purchasing an additional 171,909 shares during the period. Institutional investors own 82.05% of the company’s stock.

Shares of Earthstone Energy stock traded down $0.85 on Monday, reaching $13.51. 87,972 shares of the company were exchanged, compared to its average volume of 849,882. The business has a fifty day simple moving average of $13.26. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 23.33 and a beta of 2.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.41 and a quick ratio of 0.41. Earthstone Energy has a fifty-two week low of $6.56 and a fifty-two week high of $17.19.

Earthstone Energy (NYSE:ESTEGet Rating) last announced its earnings results on Wednesday, March 9th. The oil and gas producer reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. The company had revenue of $144.02 million for the quarter, compared to analyst estimates of $108.45 million. Earthstone Energy had a return on equity of 11.26% and a net margin of 8.46%. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, research analysts anticipate that Earthstone Energy will post 3.37 EPS for the current year.

About Earthstone Energy (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.

Featured Stories

Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

Receive News & Ratings for Earthstone Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy and related companies with MarketBeat.com's FREE daily email newsletter.