Imperial Capital Brokers Cut Earnings Estimates for Earthstone Energy, Inc. (NYSE:ESTE)

Earthstone Energy, Inc. (NYSE:ESTE) – Equities research analysts at Imperial Capital reduced their Q1 2018 earnings per share estimates for Earthstone Energy in a report issued on Tuesday, Zacks Investment Research reports. Imperial Capital analyst J. Wangler now expects that the oil and gas producer will post earnings per share of $0.07 for the quarter, down from their previous estimate of $0.08.

A number of other equities research analysts have also issued reports on ESTE. Zacks Investment Research raised shares of Earthstone Energy from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Roth Capital set a $16.00 price objective on shares of Earthstone Energy and gave the company a “buy” rating in a report on Monday, August 21st. Northland Securities set a $18.00 price objective on shares of Earthstone Energy and gave the company a “buy” rating in a report on Monday, August 21st. Robert W. Baird reaffirmed a “buy” rating on shares of Earthstone Energy in a report on Sunday, September 17th. Finally, BidaskClub raised shares of Earthstone Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.91.

Shares of Earthstone Energy (NYSE ESTE) traded down $0.02 on Wednesday, reaching $9.09. 185,324 shares of the company’s stock were exchanged, compared to its average volume of 131,838. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.59 and a current ratio of 0.59. Earthstone Energy has a twelve month low of $7.85 and a twelve month high of $15.50. The stock has a market cap of $600.62, a price-to-earnings ratio of 11.67 and a beta of 1.38.

Hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC purchased a new position in shares of Earthstone Energy in the second quarter valued at $105,000. New York State Common Retirement Fund grew its holdings in shares of Earthstone Energy by 849.2% in the second quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock valued at $114,000 after purchasing an additional 10,199 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Earthstone Energy in the second quarter valued at $120,000. Brandywine Global Investment Management LLC purchased a new position in shares of Earthstone Energy in the second quarter valued at $122,000. Finally, Rhumbline Advisers purchased a new position in Earthstone Energy during the third quarter worth $135,000. 13.43% of the stock is owned by hedge funds and other 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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