Gradient Investments LLC boosted its position in Earthstone Energy Inc (NYSE:ESTE) by 145.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 82,907 shares of the oil and gas producer’s stock after acquiring an additional 49,161 shares during the quarter. Gradient Investments LLC’s holdings in Earthstone Energy were worth $881,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of ESTE. Citadel Advisors LLC bought a new stake in Earthstone Energy in the 2nd quarter valued at about $105,000. New York State Common Retirement Fund increased its holdings in Earthstone Energy by 849.2% during the 2nd quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock worth $114,000 after purchasing an additional 10,199 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in Earthstone Energy during the 2nd quarter worth approximately $120,000. Rhumbline Advisers bought a new stake in Earthstone Energy during the 3rd quarter worth approximately $135,000. Finally, American International Group Inc. increased its holdings in Earthstone Energy by 109.0% during the 3rd 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. 13.75% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on ESTE. KLR Group began coverage on Earthstone Energy in a report on Thursday, February 8th. They set a “buy” rating and a $17.00 price objective for the company. Robert W. Baird reissued an “outperform” rating and set a $13.00 price objective (down from $14.00) on shares of Earthstone Energy in a report on Monday, December 18th. SunTrust Banks reissued a “buy” rating and set a $14.00 price objective on shares of Earthstone Energy in a report on Tuesday, February 6th. Zacks Investment Research lowered Earthstone Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, ValuEngine lowered Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Earthstone Energy has a consensus rating of “Buy” and a consensus price target of $14.45.
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About Earthstone Energy
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.
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