Imperial Capital set a $14.00 target price on Earthstone Energy (NYSE:ESTE) in a report issued on Thursday morning. The brokerage currently has a buy rating on the oil and gas producer’s stock. Imperial Capital also issued estimates for Earthstone Energy’s Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.29 EPS and FY2019 earnings at $1.45 EPS.
Several other equities research analysts also recently issued reports on ESTE. SunTrust Banks reiterated a buy rating and set a $14.00 price target on shares of Earthstone Energy in a report on Tuesday, February 6th. Robert W. Baird set a $17.00 price target on Earthstone Energy and gave the stock a buy rating in a report on Thursday, March 15th. Zacks Investment Research upgraded Earthstone Energy from a hold rating to a buy rating and set a $13.00 price target for the company in a report on Tuesday, January 23rd. ValuEngine downgraded Earthstone Energy from a buy rating to a hold rating in a report on Friday, February 2nd. Finally, KLR Group assumed coverage on Earthstone Energy in a report on Thursday, February 8th. They set a buy rating and a $17.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Earthstone Energy currently has an average rating of Buy and an average target price of $14.22.
Shares of ESTE opened at $9.35 on Thursday. Earthstone Energy has a 52-week low of $7.85 and a 52-week high of $15.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $594.27, a price-to-earnings ratio of 6.54 and a beta of 1.08.
Earthstone Energy (NYSE:ESTE) last released its quarterly earnings data on Wednesday, March 14th. The oil and gas producer reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.31. The firm had revenue of $35.68 million during the quarter, compared to the consensus estimate of $33.12 million. Earthstone Energy had a positive return on equity of 5.77% and a negative net margin of 11.58%. equities analysts predict that Earthstone Energy will post 0.67 earnings per share for the current year.
Large investors have recently made changes to their positions in the business. Sanders Morris Harris LLC lifted its position in shares of Earthstone Energy by 336.1% during the 4th quarter. Sanders Morris Harris LLC now owns 660,993 shares of the oil and gas producer’s stock valued at $7,026,000 after buying an additional 509,430 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Earthstone Energy during the 4th quarter valued at $3,666,000. TIAA CREF Investment Management LLC lifted its position in shares of Earthstone Energy by 59.1% during the 4th quarter. TIAA CREF Investment Management LLC now owns 88,870 shares of the oil and gas producer’s stock valued at $945,000 after buying an additional 33,000 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Earthstone Energy by 61.1% during the 4th quarter. Teachers Advisors LLC now owns 36,477 shares of the oil and gas producer’s stock valued at $388,000 after buying an additional 13,831 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Earthstone Energy by 16.5% during 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 buying an additional 5,194 shares during the last quarter. Hedge funds and other institutional investors own 18.04% of the company’s stock.
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About Earthstone Energy
Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.
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