SunTrust Banks, Inc. set a $15.00 price objective on Earthstone Energy Inc (NASDAQ:ESTE) in a report released on Friday, October 20th. The firm currently has a buy rating on the stock. SunTrust Banks also issued estimates for Earthstone Energy’s Q3 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.05 EPS, FY2019 earnings at $0.99 EPS and FY2020 earnings at $1.28 EPS.
ESTE has been the subject of a number of other research reports. Zacks Investment Research upgraded Earthstone Energy from a hold rating to a buy rating and set a $12.00 price objective for the company in a report on Tuesday, October 17th. Roth Capital set a $16.00 price target on Earthstone Energy and gave the stock a buy rating in a report on Monday, August 21st. Imperial Capital initiated coverage on Earthstone Energy in a report on Tuesday, August 1st. They issued an outperform rating and a $13.00 price target for the company. Northland Securities set a $18.00 price target on Earthstone Energy and gave the stock a buy rating in a report on Monday, August 21st. Finally, BidaskClub raised Earthstone Energy from a hold rating to a buy rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $14.14.
Shares of Earthstone Energy (NASDAQ ESTE) opened at 8.14 on Friday. The stock’s 50 day moving average is $10.15 and its 200 day moving average is $10.78. The stock’s market cap is $186.41 million. Earthstone Energy has a 12 month low of $7.86 and a 12 month high of $15.70.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in shares of Earthstone Energy in the second quarter valued at approximately $105,000. New York State Common Retirement Fund increased its stake in shares of Earthstone Energy by 849.2% during the second quarter. New York State Common Retirement Fund now owns 11,400 shares of the company’s stock worth $114,000 after purchasing an additional 10,199 shares during the period. Virtu KCG Holdings LLC bought a new position in shares of Earthstone Energy during the second quarter worth approximately $120,000. Brandywine Global Investment Management LLC bought a new position in shares of Earthstone Energy during the second quarter worth approximately $122,000. Finally, California State Teachers Retirement System increased its stake in shares of Earthstone Energy by 295.2% during the second quarter. California State Teachers Retirement System now owns 17,537 shares of the company’s stock worth $176,000 after purchasing an additional 13,100 shares during the period.
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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