Earthstone Energy (NYSE:ESTE) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday.
Several other brokerages have also recently issued reports on ESTE. Royal Bank of Canada initiated coverage on shares of Earthstone Energy in a report on Monday, July 9th. They issued an “outperform” rating for the company. SunTrust Banks set a $14.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a research note on Monday, October 22nd. Imperial Capital increased their price target on shares of Earthstone Energy from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 9th. Seaport Global Securities reiterated a “buy” rating on shares of Earthstone Energy in a research note on Wednesday, July 25th. Finally, Northland Securities set a $14.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.25.
Shares of Earthstone Energy stock traded down $0.24 during trading hours on Thursday, hitting $7.99. The company had a trading volume of 143,635 shares, compared to its average volume of 133,669. Earthstone Energy has a twelve month low of $7.45 and a twelve month high of $12.16. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.03. The stock has a market cap of $526.54 million, a price-to-earnings ratio of 5.59, a PEG ratio of 0.42 and a beta of 1.42.
Earthstone Energy (NYSE:ESTE) last issued its earnings results on Monday, August 6th. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.13). Earthstone Energy had a net margin of 6.79% and a return on equity of 2.47%. The company had revenue of $37.15 million during the quarter, compared to analyst estimates of $39.19 million. On average, analysts forecast that Earthstone Energy will post 0.65 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in Earthstone Energy during the 2nd quarter worth $650,000. Gradient Investments LLC raised its position in Earthstone Energy by 46.1% during the 3rd quarter. Gradient Investments LLC now owns 156,512 shares of the oil and gas producer’s stock worth $1,468,000 after buying an additional 49,366 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Earthstone Energy by 71.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 610,033 shares of the oil and gas producer’s stock worth $5,398,000 after buying an additional 254,152 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Earthstone Energy during the 2nd quarter worth $443,000. Finally, Wells Fargo & Company MN raised its position in Earthstone Energy by 2.3% during the 2nd quarter. Wells Fargo & Company MN now owns 900,610 shares of the oil and gas producer’s stock worth $7,971,000 after buying an additional 19,869 shares during the last quarter. Hedge funds and other institutional investors own 75.56% of the company’s stock.
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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