KLR Group Begins Coverage on Earthstone Energy (NYSE:ESTE)

KLR Group began coverage on shares of Earthstone Energy (NYSE:ESTE) in a report released on Thursday, February 8th, Marketbeat.com reports. The brokerage set a “buy” rating and a $17.00 price target on the oil and gas producer’s stock. KLR Group’s price objective would indicate a potential upside of 71.20% from the stock’s previous close.

Several other research analysts have also issued reports on ESTE. Roth Capital set a $16.00 target price on Earthstone Energy and gave the stock a “buy” rating in a research report on Thursday, October 12th. Zacks Investment Research raised Earthstone Energy from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, October 17th. SunTrust Banks set a $15.00 price objective on Earthstone Energy and gave the company a “buy” rating in a research report on Friday, October 20th. Robert W. Baird set a $14.00 price objective on Earthstone Energy and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, BidaskClub raised Earthstone Energy from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $14.45.

Earthstone Energy (NYSE ESTE) opened at $9.93 on Thursday. Earthstone Energy has a 52-week low of $7.85 and a 52-week high of $15.50. The stock has a market capitalization of $610.16, a P/E ratio of 11.85 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.59 and a quick ratio of 0.59.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of Earthstone Energy by 14.9% in the 4th quarter. BlackRock Inc. now owns 1,065,961 shares of the oil and gas producer’s stock worth $11,330,000 after purchasing an additional 138,451 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in shares of Earthstone Energy by 6.8% in the 4th quarter. Wasatch Advisors Inc. now owns 898,260 shares of the oil and gas producer’s stock worth $9,549,000 after purchasing an additional 56,849 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Earthstone Energy by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 864,116 shares of the oil and gas producer’s stock worth $9,185,000 after purchasing an additional 8,384 shares in the last quarter. Northpointe Capital LLC increased its holdings in shares of Earthstone Energy by 42.3% in the 4th quarter. Northpointe Capital LLC now owns 739,807 shares of the oil and gas producer’s stock worth $7,864,000 after purchasing an additional 220,063 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Earthstone Energy by 84.9% in the 2nd quarter. Vanguard Group Inc. now owns 520,807 shares of the oil and gas producer’s stock worth $5,214,000 after purchasing an additional 239,193 shares in the last quarter. 13.75% of the stock is owned by institutional investors.

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About Earthstone Energy

Earthstone Energy, Inc is an independent oil and natural gas development and production company. The Company is also engaged in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. Its operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States.

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