Sanders Morris Harris LLC increased its position in shares of Earthstone Energy Inc (NYSE:ESTE) by 336.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 660,993 shares of the oil and gas producer’s stock after acquiring an additional 509,430 shares during the quarter. Earthstone Energy makes up approximately 3.0% of Sanders Morris Harris LLC’s holdings, making the stock its 10th biggest holding. Sanders Morris Harris LLC owned approximately 1.04% of Earthstone Energy worth $7,026,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Earthstone Energy by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 35,607 shares of the oil and gas producer’s stock worth $356,000 after acquiring an additional 2,787 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Earthstone Energy by 16.5% in the 4th quarter. California State Teachers Retirement System now owns 36,731 shares of the oil and gas producer’s stock valued at $390,000 after purchasing an additional 5,194 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Earthstone Energy by 109.0% in the 3rd quarter. American International Group Inc. now owns 12,796 shares of the oil and gas producer’s stock valued at $141,000 after purchasing an additional 6,673 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Earthstone Energy by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 864,116 shares of the oil and gas producer’s stock valued at $9,185,000 after purchasing an additional 8,384 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Earthstone Energy by 61.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 24,916 shares of the oil and gas producer’s stock valued at $249,000 after purchasing an additional 9,519 shares during the last quarter. Hedge funds and other institutional investors own 18.04% of the company’s stock.
Earthstone Energy stock traded down $0.38 during trading hours on Monday, hitting $9.42. 12,481 shares of the company traded hands, compared to its average volume of 147,797. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $622.87, a price-to-earnings ratio of -17.50 and a beta of 1.18. Earthstone Energy Inc has a 1-year low of $7.85 and a 1-year high of $15.00.
A number of brokerages have weighed in on ESTE. Robert W. Baird reiterated an “outperform” rating and issued a $13.00 price target (down previously from $14.00) on shares of Earthstone Energy in a report on Monday, December 18th. KLR Group began coverage on shares of Earthstone Energy in a report on Thursday, February 8th. They issued a “buy” rating and a $17.00 price target on the stock. SunTrust Banks reiterated a “buy” rating and issued a $14.00 price target on shares of Earthstone Energy in a report on Tuesday, February 6th. Zacks Investment Research lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, ValuEngine lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $14.11.
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Earthstone Energy 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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