Earthstone Energy Inc (ESTE) Receives $11.40 Average Target Price from Analysts

Shares of Earthstone Energy Inc (NYSE:ESTE) have been given a consensus rating of “Buy” by the nine research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.40.

A number of analysts have issued reports on the stock. Roth Capital reduced their target price on shares of Earthstone Energy from $15.50 to $12.00 in a research note on Thursday, January 24th. Northland Securities reiterated a “buy” rating and issued a $11.00 target price on shares of Earthstone Energy in a research note on Wednesday, February 27th. Zacks Investment Research upgraded shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Imperial Capital reiterated an “outperform” rating and issued a $9.00 target price (up from $7.00) on shares of Earthstone Energy in a research note on Wednesday, February 27th. Finally, Stephens assumed coverage on shares of Earthstone Energy in a research note on Thursday, December 6th. They issued an “overweight” rating and a $11.00 target price for the company.

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in Earthstone Energy by 9.3% during the second quarter. Northern Trust Corp now owns 248,541 shares of the oil and gas producer’s stock worth $2,199,000 after acquiring an additional 21,186 shares during the period. Victory Capital Management Inc. increased its position in Earthstone Energy by 17.7% during the third quarter. Victory Capital Management Inc. now owns 198,549 shares of the oil and gas producer’s stock worth $1,862,000 after acquiring an additional 29,801 shares during the period. American Century Companies Inc. increased its position in Earthstone Energy by 2,296.6% during the third quarter. American Century Companies Inc. now owns 793,355 shares of the oil and gas producer’s stock worth $7,442,000 after acquiring an additional 760,252 shares during the period. Globeflex Capital L P increased its position in Earthstone Energy by 156.8% during the third quarter. Globeflex Capital L P now owns 34,818 shares of the oil and gas producer’s stock worth $327,000 after acquiring an additional 21,258 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Earthstone Energy by 30.7% during the third quarter. Dimensional Fund Advisors LP now owns 797,393 shares of the oil and gas producer’s stock worth $7,479,000 after acquiring an additional 187,360 shares during the period. 20.00% of the stock is currently owned by institutional investors.

NYSE ESTE opened at $6.63 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $425.44 million, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 0.34 and a beta of 1.89. Earthstone Energy has a 12-month low of $4.21 and a 12-month high of $11.00.

Earthstone Energy (NYSE:ESTE) last posted its earnings results on Tuesday, March 12th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.13. The firm had revenue of $41.24 million during the quarter, compared to analysts’ expectations of $39.66 million. Earthstone Energy had a net margin of 25.60% and a return on equity of 11.92%. As a group, analysts anticipate that Earthstone Energy will post 0.66 EPS for the current fiscal year.

About Earthstone Energy

Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry 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, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.

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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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