Earthstone Energy (NYSE:ESTE) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Earthstone Energy (NYSE:ESTEGet Rating) released its earnings results on Wednesday. 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, MarketWatch Earnings reports. The company 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 17.61% and a net margin of 1.45%. Earthstone Energy’s quarterly revenue was up 159.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS.

Shares of ESTE traded up $1.22 during mid-day trading on Friday, reaching $15.18. 1,729,272 shares of the company were exchanged, compared to its average volume of 1,170,646. Earthstone Energy has a 52 week low of $7.01 and a 52 week high of $17.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $1.33 billion, a PE ratio of 79.89 and a beta of 2.16. The business has a 50 day simple moving average of $13.61 and a two-hundred day simple moving average of $12.39.

Several analysts recently weighed in on the company. Roth Capital reaffirmed a “buy” rating on shares of Earthstone Energy in a research note on Tuesday, February 8th. TheStreet raised Earthstone Energy from a “c” rating to a “b” rating in a research note on Tuesday, April 5th. Alliance Global Partners raised their price objective on Earthstone Energy from $28.00 to $33.00 in a research note on Friday, February 11th. Wells Fargo & Company raised their price objective on Earthstone Energy from $13.00 to $17.00 and gave the company an “underweight” rating in a research note on Monday, March 14th. Finally, Zacks Investment Research raised Earthstone Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $20.36.

In other news, CFO Mark Lumpkin, Jr. sold 30,000 shares of the firm’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $16.47, for a total transaction of $494,100.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tony Oviedo sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $13.71, for a total value of $685,500.00. Following the transaction, the executive vice president now owns 180,555 shares of the company’s stock, valued at $2,475,409.05. The disclosure for this sale can be found here. Insiders have sold 147,500 shares of company stock valued at $2,031,175 over the last 90 days. 52.45% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Earthstone Energy by 3.9% in the fourth quarter. BlackRock Inc. now owns 1,619,664 shares of the oil and gas producer’s stock worth $17,720,000 after purchasing an additional 60,706 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Earthstone Energy by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 486,423 shares of the oil and gas producer’s stock valued at $5,321,000 after acquiring an additional 50,659 shares in the last quarter. Morgan Stanley increased its holdings in shares of Earthstone Energy by 122.1% during the third quarter. Morgan Stanley now owns 269,569 shares of the oil and gas producer’s stock valued at $2,480,000 after acquiring an additional 148,209 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Earthstone Energy by 195.6% during the fourth quarter. Millennium Management LLC now owns 237,574 shares of the oil and gas producer’s stock valued at $2,599,000 after acquiring an additional 157,199 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Earthstone Energy by 778.5% during the fourth quarter. Invesco Ltd. now owns 192,601 shares of the oil and gas producer’s stock valued at $2,107,000 after acquiring an additional 170,676 shares in the last quarter.

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.

Featured Articles

Earnings History 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.