Earthstone Energy, Inc. (NYSE:ESTE) – SunTrust Banks lowered their Q2 2018 earnings estimates for Earthstone Energy in a report issued on Monday, April 16th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will earn $0.15 per share for the quarter, down from their previous estimate of $0.17. SunTrust Banks currently has a “Buy” rating and a $14.00 target price on the stock. SunTrust Banks also issued estimates for Earthstone Energy’s Q3 2018 earnings at $0.20 EPS and FY2019 earnings at $1.49 EPS.
Several other brokerages have also recently issued reports on ESTE. Imperial Capital set a $14.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Thursday, April 5th. KLR Group initiated coverage on shares of Earthstone Energy in a research report on Thursday, February 8th. They set a “buy” rating and a $17.00 price target on the stock. Robert W. Baird set a $17.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Thursday, March 15th. Zacks Investment Research cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, ValuEngine cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $14.22.
Shares of ESTE opened at $10.37 on Tuesday. The stock has a market cap of $650.83, a PE ratio of 7.25 and a beta of 1.07. Earthstone Energy has a 1 year low of $7.85 and a 1 year high of $14.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.68 and a current ratio of 0.68.
Earthstone Energy (NYSE:ESTE) last issued its quarterly earnings results on Wednesday, March 14th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.31. The business had revenue of $35.68 million for the quarter, compared to analysts’ expectations of $33.12 million. Earthstone Energy had a negative net margin of 11.58% and a positive return on equity of 5.77%.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Earthstone Energy by 14.9% in the fourth quarter. BlackRock Inc. now owns 1,065,961 shares of the oil and gas producer’s stock valued at $11,330,000 after acquiring an additional 138,451 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in 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 valued at $9,549,000 after acquiring an additional 56,849 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Earthstone Energy by 1.0% in the fourth quarter. Wells Fargo & Company MN now owns 864,116 shares of the oil and gas producer’s stock valued at $9,185,000 after acquiring an additional 8,384 shares in the last quarter. Northpointe Capital LLC raised its holdings in Earthstone Energy by 42.3% in the fourth quarter. Northpointe Capital LLC now owns 739,807 shares of the oil and gas producer’s stock valued at $7,864,000 after acquiring an additional 220,063 shares in the last quarter. Finally, Sanders Morris Harris LLC raised its holdings in Earthstone Energy by 336.1% in the fourth quarter. Sanders Morris Harris LLC now owns 660,993 shares of the oil and gas producer’s stock valued at $7,026,000 after acquiring an additional 509,430 shares in the last quarter. 18.04% of the stock is currently owned by hedge funds and other institutional investors.
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Earthstone Energy Company Profile
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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