Earthstone Energy’s (ESTE) Outperform Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of Earthstone Energy (NYSE:ESTE) in a research report released on Monday, MarketBeat.com reports. They currently have a $13.00 price target on the oil and gas producer’s stock, down from their previous price target of $14.00.

A number of other equities research analysts have also recently weighed in on ESTE. Roth Capital set a $16.00 price objective on Earthstone Energy and gave the company a buy rating in a research note on Monday, August 21st. Northland Securities set a $18.00 price objective on Earthstone Energy and gave the company a buy rating in a research note on Monday, August 21st. BidaskClub upgraded Earthstone Energy from a hold rating to a buy rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Earthstone Energy from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Tuesday, October 17th. Finally, SunTrust Banks set a $15.00 target price on Earthstone Energy and gave the company a buy rating in a report on Friday, October 20th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $14.45.

Shares of Earthstone Energy (NYSE:ESTE) opened at $10.08 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.11. Earthstone Energy has a 52 week low of $7.85 and a 52 week high of $15.50. The firm has a market capitalization of $620.96, a P/E ratio of 12.06 and a beta of 1.38.

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in shares of Earthstone Energy by 79.8% in the third quarter. California State Teachers Retirement System now owns 31,537 shares of the oil and gas producer’s stock valued at $347,000 after purchasing an additional 14,000 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Earthstone Energy by 147.3% in the third quarter. Dimensional Fund Advisors LP now owns 88,052 shares of the oil and gas producer’s stock valued at $968,000 after purchasing an additional 52,445 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Earthstone Energy by 108.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 38,800 shares of the oil and gas producer’s stock valued at $427,000 after purchasing an additional 20,200 shares during the period. American International Group Inc. increased its holdings in shares of 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 valued at $141,000 after purchasing an additional 6,673 shares during the period. Finally, Wasatch Advisors Inc. increased its holdings in shares of Earthstone Energy by 7.7% in the third quarter. Wasatch Advisors Inc. now owns 841,411 shares of the oil and gas producer’s stock valued at $9,247,000 after purchasing an additional 59,798 shares during the period. 13.41% of the stock is currently owned by institutional investors and hedge funds.

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Earthstone Energy Company 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.

Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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