Earthstone Energy (NYSE:ESTE) Stock Rating Lowered by Zacks Investment Research

Earthstone Energy (NYSE:ESTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, January 9th.

According to Zacks, “Earthstone Energy, Inc., formerly known as Basic Earth Science Systems, Inc., is an independent oil and gas exploration and production company. Its primary focus is in the Montana and North Dakota portions of the Williston basin. The Company is based in Denver, Colorado. “

Other analysts also recently issued reports about the company. Robert W. Baird restated an “outperform” rating and issued a $13.00 price target (down from $14.00) on shares of Earthstone Energy in a research note on Monday, December 18th. Northland Securities reaffirmed a “buy” rating and set a $18.00 price objective on shares of Earthstone Energy in a report on Tuesday, September 26th. SunTrust Banks set a $15.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a report on Friday, October 20th. Roth Capital set a $16.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Wells Fargo & Co started coverage on Earthstone Energy in a report on Thursday, November 30th. They set an “outperform” rating and a $12.00 price objective for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.55.

Shares of Earthstone Energy (NYSE:ESTE) traded down $0.11 during mid-day trading on Tuesday, hitting $11.60. The company’s stock had a trading volume of 273,600 shares, compared to its average volume of 186,070. Earthstone Energy has a one year low of $7.85 and a one year high of $15.50. The stock has a market cap of $744.26, a P/E ratio of -5.45 and a beta of 1.38. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.11.

Earthstone Energy (NYSE:ESTE) last announced its earnings results on Thursday, November 2nd. The oil and gas producer reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. Earthstone Energy had a positive return on equity of 4.01% and a negative net margin of 54.69%. research analysts expect that Earthstone Energy will post -0.55 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ESTE. Wasatch Advisors Inc. lifted its stake in shares of 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 worth $9,549,000 after acquiring an additional 56,849 shares in the last quarter. Wells Fargo & Company MN raised its stake in Earthstone Energy by 126,489.0% during the second quarter. Wells Fargo & Company MN now owns 854,476 shares of the oil and gas producer’s stock valued at $8,553,000 after buying an additional 853,801 shares in the last quarter. Vanguard Group Inc. raised its stake in Earthstone Energy by 84.9% during the second quarter. Vanguard Group Inc. now owns 520,807 shares of the oil and gas producer’s stock valued at $5,214,000 after buying an additional 239,193 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Earthstone Energy by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 388,040 shares of the oil and gas producer’s stock valued at $3,884,000 after buying an additional 94,469 shares in the last quarter. Finally, Sanders Morris Harris LLC raised its stake in Earthstone Energy by 75.3% during the third quarter. Sanders Morris Harris LLC now owns 151,563 shares of the oil and gas producer’s stock valued at $1,666,000 after buying an additional 65,093 shares in the last quarter. 13.41% of the stock is owned by institutional investors.

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Earthstone Energy Company Profile

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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