Brokerages expect Earthstone Energy, Inc. (NYSE:ESTE) to post earnings per share of $0.13 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Earthstone Energy’s earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.07. Earthstone Energy posted earnings per share of ($0.06) during the same quarter last year, which would suggest a positive year-over-year growth rate of 316.7%. The business is scheduled to report its next earnings results on Monday, May 14th.
According to Zacks, analysts expect that Earthstone Energy will report full-year earnings of $0.67 per share for the current financial year, with EPS estimates ranging from $0.46 to $0.86. For the next year, analysts anticipate that the company will report earnings of $1.15 per share, with EPS estimates ranging from $0.77 to $1.49. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Earthstone Energy.
Earthstone Energy (NYSE:ESTE) last released its quarterly earnings data on Wednesday, March 14th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 positive return on equity of 5.77% and a negative net margin of 11.58%.
Several analysts recently commented on ESTE shares. Zacks Investment Research lowered Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Robert W. Baird set a $15.00 price target on Earthstone Energy and gave the company a “buy” rating in a research note on Thursday, February 8th. ValuEngine lowered Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. SunTrust Banks reaffirmed a “buy” rating and issued a $14.00 price target on shares of Earthstone Energy in a research note on Tuesday, February 6th. Finally, KLR Group started coverage on Earthstone Energy in a research note on Thursday, February 8th. They issued a “buy” rating and a $17.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Earthstone Energy has an average rating of “Buy” and an average target price of $14.22.
ESTE opened at $10.25 on Friday. The company has a market cap of $673.08, a PE ratio of 7.51 and a beta of 1.08. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.03. Earthstone Energy has a 1 year low of $7.85 and a 1 year high of $14.75.
Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in Earthstone Energy by 16.5% in the fourth quarter. California State Teachers Retirement System now owns 36,731 shares of the oil and gas producer’s stock worth $390,000 after purchasing an additional 5,194 shares in the last quarter. American International Group Inc. boosted its stake in Earthstone Energy by 109.0% in the third quarter. American International Group Inc. now owns 12,796 shares of the oil and gas producer’s stock worth $141,000 after purchasing an additional 6,673 shares in the last quarter. Wells Fargo & Company MN boosted its stake 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 worth $9,185,000 after purchasing an additional 8,384 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Earthstone Energy by 71.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 26,787 shares of the oil and gas producer’s stock worth $285,000 after purchasing an additional 11,141 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in Earthstone Energy in the third quarter worth $135,000. 18.04% of the stock is currently owned by institutional investors and hedge funds.
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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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