Northland Securities reissued their buy rating on shares of Earthstone Energy (NYSE:ESTE) in a research report report published on Thursday morning, AnalystRatings.com reports. The firm currently has a $6.00 price objective on the oil and gas producer’s stock.
Several other equities research analysts have also recently issued reports on ESTE. Zacks Investment Research cut shares of Earthstone Energy from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Wells Fargo & Co restated a hold rating on shares of Earthstone Energy in a research report on Tuesday, August 13th. Seaport Global Securities cut shares of Earthstone Energy from a buy rating to a neutral rating in a research report on Thursday, October 10th. Royal Bank of Canada restated a buy rating and set a $10.00 price objective on shares of Earthstone Energy in a research report on Sunday, August 11th. Finally, SunTrust Banks cut their price objective on shares of Earthstone Energy from $8.00 to $7.00 and set a buy rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Earthstone Energy has an average rating of Buy and an average price target of $8.03.
Shares of NYSE ESTE traded up $0.20 during mid-day trading on Thursday, reaching $5.65. The company’s stock had a trading volume of 227,918 shares, compared to its average volume of 170,264. The stock has a 50-day moving average of $3.81 and a two-hundred day moving average of $4.92. The stock has a market capitalization of $309.99 million, a P/E ratio of 3.92 and a beta of 1.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.55 and a current ratio of 0.55. Earthstone Energy has a 1-year low of $3.00 and a 1-year high of $8.12.
Earthstone Energy (NYSE:ESTE) last issued its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.05. The business had revenue of $39.20 million during the quarter, compared to analysts’ expectations of $39.38 million. Earthstone Energy had a net margin of 16.18% and a return on equity of 5.47%. Analysts predict that Earthstone Energy will post 0.95 EPS for the current fiscal year.
In related news, President Robert John Anderson bought 10,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was bought at an average price of $3.20 per share, with a total value of $32,000.00. Following the completion of the purchase, the president now directly owns 305,700 shares in the company, valued at approximately $978,240. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 63.04% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its stake in Earthstone Energy by 168.4% during the second quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 2,567 shares during the period. Jefferies Group LLC purchased a new position in Earthstone Energy during the second quarter worth about $70,000. Campbell & CO Investment Adviser LLC purchased a new position in Earthstone Energy during the second quarter worth about $111,000. WINTON GROUP Ltd boosted its stake in Earthstone Energy by 132.3% during the second quarter. WINTON GROUP Ltd now owns 25,239 shares of the oil and gas producer’s stock worth $154,000 after buying an additional 14,374 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Earthstone Energy by 516.8% during the second quarter. JPMorgan Chase & Co. now owns 28,409 shares of the oil and gas producer’s stock worth $173,000 after buying an additional 23,803 shares during the period. 21.32% of the stock is owned by institutional investors.
Earthstone Energy Company Profile
Earthstone Energy, Inc, an independent energy company, engages in the development and operation of oil and gas properties in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2018, the company operated 93 gross Eagle Ford wells; and 13 gross Austin Chalk wells, as well as had 98,847 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 23,646 MBOE of proved developed reserves and 75,201 MBOE of proved undeveloped reserves.
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