Two Sigma Advisers LP Buys New Position in Earthstone Energy Inc (ESTE)

Two Sigma Advisers LP bought a new stake in shares of Earthstone Energy Inc (NYSE:ESTE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,200 shares of the oil and gas producer’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Counselors of Maryland LLC boosted its stake in shares of Earthstone Energy by 2.3% during the 4th quarter. Investment Counselors of Maryland LLC now owns 1,158,400 shares of the oil and gas producer’s stock valued at $5,236,000 after purchasing an additional 25,900 shares in the last quarter. BlackRock Inc. boosted its stake in Earthstone Energy by 3.0% during the fourth quarter. BlackRock Inc. now owns 1,040,466 shares of the oil and gas producer’s stock worth $4,703,000 after acquiring an additional 29,956 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Earthstone Energy by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 942,735 shares of the oil and gas producer’s stock worth $4,261,000 after acquiring an additional 145,342 shares in the last quarter. Vanguard Group Inc boosted its stake in Earthstone Energy by 0.7% during the third quarter. Vanguard Group Inc now owns 872,105 shares of the oil and gas producer’s stock worth $8,180,000 after acquiring an additional 5,970 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Earthstone Energy by 17.6% during the fourth quarter. Geode Capital Management LLC now owns 243,585 shares of the oil and gas producer’s stock worth $1,100,000 after acquiring an additional 36,482 shares in the last quarter. 19.91% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ESTE opened at $7.00 on Monday. Earthstone Energy Inc has a one year low of $4.21 and a one year high of $11.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $449.18 million, a P/E ratio of 4.86, a price-to-earnings-growth ratio of 0.36 and a beta of 1.90.

Earthstone Energy (NYSE:ESTE) last issued its earnings results on Tuesday, March 12th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $41.24 million during the quarter, compared to analysts’ expectations of $39.66 million. Earthstone Energy had a net margin of 25.60% and a return on equity of 1.80%. Research analysts anticipate that Earthstone Energy Inc will post 0.65 EPS for the current fiscal year.

Several research firms recently commented on ESTE. ValuEngine raised shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 9th. Northland Securities reissued a “buy” rating and set a $11.00 price objective on shares of Earthstone Energy in a research note on Tuesday, April 9th. TheStreet raised shares of Earthstone Energy from a “d+” rating to a “c” rating in a research note on Friday, April 5th. Zacks Investment Research raised shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Imperial Capital reissued an “outperform” rating and set a $9.00 price objective (up previously from $7.00) on shares of Earthstone Energy in a research note on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $10.58.

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About Earthstone Energy

Earthstone Energy, Inc, an independent energy company, engages in the development and operation of oil and gas properties 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, 2018, the company operated 93 gross Eagle Ford wells; and 13 gross Austin Chalk wells, as well as had 98,847 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 23,646 MBOE of proved developed reserves and 75,201 MBOE of proved undeveloped reserves.

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Institutional Ownership by Quarter for Earthstone Energy (NYSE:ESTE)

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