Northland Securities restated their buy rating on shares of Earthstone Energy (NYSE:ESTE) in a research report released on Thursday, AnalystRatings.com reports. Northland Securities currently has a $6.00 price target on the oil and gas producer’s stock.
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Other equities analysts have also recently issued reports about the stock. Seaport Global Securities cut shares of Earthstone Energy from a buy rating to a neutral rating in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed a buy rating and issued a $10.00 target price on shares of Earthstone Energy in a report on Sunday, August 11th. Zacks Investment Research cut shares of Earthstone Energy from a buy rating to a hold rating in a report on Tuesday, July 23rd. ValuEngine raised shares of Earthstone Energy from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co reaffirmed a hold rating on shares of Earthstone Energy in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Earthstone Energy has a consensus rating of Buy and an average target price of $8.03.
ESTE stock traded up $0.20 during midday trading on Thursday, reaching $5.65. 227,918 shares of the company were exchanged, compared to its average volume of 170,264. 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. The stock’s 50-day simple moving average is $3.81 and its 200 day simple moving average is $4.92. The company has a market cap of $309.99 million, a price-to-earnings ratio of 3.92 and a beta of 1.92.
Earthstone Energy (NYSE:ESTE) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $39.20 million for 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%. On average, research analysts anticipate that Earthstone Energy will post 0.95 earnings per share for the current year.
In other news, President Robert John Anderson acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $3.20 per share, with a total value of $32,000.00. Following the purchase, the president now owns 305,700 shares of the company’s stock, valued at approximately $978,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 63.04% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in Earthstone Energy by 168.4% in the 2nd quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 2,567 shares during the period. JBF Capital Inc. increased its stake in Earthstone Energy by 0.3% in the 2nd quarter. JBF Capital Inc. now owns 860,765 shares of the oil and gas producer’s stock valued at $5,268,000 after buying an additional 2,728 shares during the period. Rhumbline Advisers increased its stake in Earthstone Energy by 11.0% in the 3rd quarter. Rhumbline Advisers now owns 29,542 shares of the oil and gas producer’s stock valued at $96,000 after buying an additional 2,922 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Earthstone Energy by 9.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 47,590 shares of the oil and gas producer’s stock valued at $292,000 after buying an additional 4,287 shares during the period. Finally, Northern Trust Corp increased its stake in Earthstone Energy by 2.1% in the 2nd quarter. Northern Trust Corp now owns 254,753 shares of the oil and gas producer’s stock valued at $1,559,000 after buying an additional 5,258 shares during the period. 21.32% of the stock is currently 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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