Earthstone Energy, Inc. (NYSE:ESTE) – Equities research analysts at SunTrust Banks cut their FY2018 earnings estimates for Earthstone Energy in a research report issued to clients and investors on Monday, April 16th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will earn $0.73 per share for the year, down from their previous forecast of $0.76. SunTrust Banks has a “Buy” rating and a $14.00 price target on the stock. SunTrust Banks also issued estimates for Earthstone Energy’s FY2020 earnings at $2.12 EPS.
A number of other brokerages have also recently issued reports on ESTE. Imperial Capital set a $14.00 target price on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Thursday, April 5th. KLR Group initiated coverage on shares of Earthstone Energy in a research report on Thursday, February 8th. They set a “buy” rating and a $17.00 target price for the company. Robert W. Baird set a $17.00 target price on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Thursday, March 15th. Zacks Investment Research cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, ValuEngine cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Earthstone Energy presently has a consensus rating of “Buy” and an average price target of $14.22.
Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings data on Wednesday, March 14th. The oil and gas producer reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.31. Earthstone Energy had a negative net margin of 11.58% and a positive return on equity of 5.77%. The firm had revenue of $35.68 million during the quarter, compared to analysts’ expectations of $33.12 million.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Earthstone Energy by 14.9% during the fourth quarter. BlackRock Inc. now owns 1,065,961 shares of the oil and gas producer’s stock worth $11,330,000 after buying an additional 138,451 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in Earthstone Energy by 6.8% in the fourth quarter. Wasatch Advisors Inc. now owns 898,260 shares of the oil and gas producer’s stock valued at $9,549,000 after purchasing an additional 56,849 shares during the period. Wells Fargo & Company MN grew its holdings in Earthstone Energy by 1.0% in the fourth quarter. Wells Fargo & Company MN now owns 864,116 shares of the oil and gas producer’s stock valued at $9,185,000 after purchasing an additional 8,384 shares during the period. Northpointe Capital LLC grew its holdings in Earthstone Energy by 42.3% in the fourth quarter. Northpointe Capital LLC now owns 739,807 shares of the oil and gas producer’s stock valued at $7,864,000 after purchasing an additional 220,063 shares during the period. Finally, Sanders Morris Harris LLC grew its holdings in Earthstone Energy by 336.1% in the fourth quarter. Sanders Morris Harris LLC now owns 660,993 shares of the oil and gas producer’s stock valued at $7,026,000 after purchasing an additional 509,430 shares during the period. Institutional investors and hedge funds own 18.04% of the company’s stock.
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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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