California State Teachers Retirement System raised its stake in Earthstone Energy Inc (NYSE:ESTE) by 79.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,537 shares of the oil and gas producer’s stock after acquiring an additional 14,000 shares during the quarter. California State Teachers Retirement System’s holdings in Earthstone Energy were worth $347,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new position in shares of Earthstone Energy during the 2nd quarter worth approximately $105,000. New York State Common Retirement Fund boosted its position in shares of Earthstone Energy by 849.2% during the 2nd quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock worth $114,000 after acquiring an additional 10,199 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Earthstone Energy during the 2nd quarter worth approximately $120,000. Brandywine Global Investment Management LLC acquired a new stake in shares of Earthstone Energy during the 2nd quarter worth approximately $122,000. Finally, Rhumbline Advisers acquired a new stake in shares of Earthstone Energy during the 3rd quarter worth approximately $135,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.
ESTE has been the topic of several analyst reports. BidaskClub upgraded shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Northland Securities set a $14.00 price objective on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Monday, December 11th. Zacks Investment Research downgraded shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Wells Fargo & Co began coverage on shares of Earthstone Energy in a research note on Thursday, November 30th. They issued an “outperform” rating and a $12.00 price objective for the company. Finally, Seaport Global Securities raised shares of Earthstone Energy from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, December 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $14.45.
Shares of Earthstone Energy Inc (NYSE:ESTE) traded up $0.05 during midday trading on Wednesday, reaching $9.65. 4,234 shares of the company were exchanged, compared to its average volume of 164,349. Earthstone Energy Inc has a fifty-two week low of $7.85 and a fifty-two week high of $15.50. The company has a market capitalization of $624.78, a P/E ratio of -4.51 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.59 and a quick ratio of 0.59.
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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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