Analysts expect that Earthstone Energy Inc (NASDAQ:ESTE) will announce sales of $29.74 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Earthstone Energy’s earnings, with the lowest sales estimate coming in at $28.20 million and the highest estimate coming in at $31.60 million. Earthstone Energy reported sales of $10.59 million during the same quarter last year, which indicates a positive year-over-year growth rate of 180.8%. The business is expected to report its next quarterly earnings report on Tuesday, November 14th.
On average, analysts expect that Earthstone Energy will report full year sales of $29.74 million for the current financial year, with estimates ranging from $100.68 million to $110.70 million. For the next year, analysts expect that the business will report sales of $162.61 million per share, with estimates ranging from $119.10 million to $190.30 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Earthstone Energy.
Several research analysts recently issued reports on ESTE shares. Seaport Global Securities cut Earthstone Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $17.00 to $11.00 in a research report on Wednesday, June 21st. Zacks Investment Research cut Earthstone Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Northland Securities set a $18.00 target price on Earthstone Energy and gave the company a “buy” rating in a research report on Monday, July 17th. Roth Capital set a $19.00 target price on Earthstone Energy and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Imperial Capital started coverage on Earthstone Energy in a research report on Tuesday, August 1st. They set an “outperform” rating and a $13.00 target price on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Earthstone Energy presently has an average rating of “Buy” and an average price target of $14.00.
Several large investors have recently made changes to their positions in ESTE. Wells Fargo & Company MN boosted its position in Earthstone Energy by 126,489.0% in the second quarter. Wells Fargo & Company MN now owns 854,476 shares of the company’s stock worth $8,553,000 after purchasing an additional 853,801 shares during the last quarter. Vanguard Group Inc. boosted its position in Earthstone Energy by 84.9% in the second quarter. Vanguard Group Inc. now owns 520,807 shares of the company’s stock worth $5,214,000 after purchasing an additional 239,193 shares during the last quarter. Northpointe Capital LLC boosted its position in Earthstone Energy by 25.3% in the second quarter. Northpointe Capital LLC now owns 696,861 shares of the company’s stock worth $6,976,000 after purchasing an additional 140,858 shares during the last quarter. Columbia Pacific Advisors LLC purchased a new position in Earthstone Energy in the second quarter worth $1,337,000. Finally, Ameriprise Financial Inc. boosted its position in Earthstone Energy by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 388,040 shares of the company’s stock worth $3,884,000 after purchasing an additional 94,469 shares during the last quarter.
Shares of Earthstone Energy (ESTE) traded down 1.40% during midday trading on Friday, hitting $10.54. The stock had a trading volume of 113,275 shares. The firm’s market cap is $241.38 million. Earthstone Energy has a 52 week low of $8.02 and a 52 week high of $15.70. The company’s 50 day moving average is $10.44 and its 200 day moving average is $11.05.
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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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