Earthstone Energy Inc (ESTE) Receives Average Recommendation of “Buy” from Analysts

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Shares of Earthstone Energy Inc (NYSE:ESTE) have earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $11.40.

ESTE has been the topic of a number of recent research reports. Imperial Capital reissued an “outperform” rating and issued a $7.00 target price (down previously from $8.00) on shares of Earthstone Energy in a report on Friday, January 18th. Roth Capital lowered their target price on Earthstone Energy from $15.50 to $12.00 in a report on Thursday, January 24th. Zacks Investment Research downgraded Earthstone Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 26th. Northland Securities reissued a “buy” rating and issued a $11.00 target price on shares of Earthstone Energy in a report on Wednesday, February 27th. Finally, TheStreet upgraded Earthstone Energy from a “d+” rating to a “c” rating in a research report on Friday, April 5th.

A number of institutional investors and hedge funds have recently modified their holdings of ESTE. Dimensional Fund Advisors LP grew its position in shares of 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 purchasing an additional 187,360 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Earthstone Energy during the third quarter worth about $137,000. TIAA CREF Investment Management LLC grew its position in shares of Earthstone Energy by 15.2% during the third quarter. TIAA CREF Investment Management LLC now owns 87,381 shares of the oil and gas producer’s stock worth $820,000 after purchasing an additional 11,557 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Earthstone Energy during the third quarter worth about $1,446,000. Finally, Vanguard Group Inc grew its position in shares of Earthstone Energy by 0.7% during the third quarter. Vanguard Group Inc now owns 872,105 shares of the oil and gas producer’s stock worth $8,180,000 after purchasing an additional 5,970 shares in the last quarter. Institutional investors and hedge funds own 19.69% of the company’s stock.

ESTE stock opened at $7.39 on Friday. Earthstone Energy has a fifty-two week low of $4.21 and a fifty-two week high of $11.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $474.22 million, a price-to-earnings ratio of 5.13, a PEG ratio of 0.33 and a beta of 1.85.

Earthstone Energy (NYSE:ESTE) last posted its earnings results on Monday, May 6th. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.58. Earthstone Energy had a return on equity of 3.75% and a net margin of 11.99%. The company had revenue of $40.73 million for the quarter, compared to the consensus estimate of $40.82 million. On average, equities analysts predict that Earthstone Energy will post 0.73 earnings per share for the current year.

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.

Further Reading: Overbought

Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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