Earthstone Energy (NYSE:ESTE) Earns Hold Rating from Wells Fargo & Co

Wells Fargo & Co reaffirmed their hold rating on shares of Earthstone Energy (NYSE:ESTE) in a report released on Tuesday, AnalystRatings.com reports.

Several other research analysts have also recently weighed in on the stock. Northland Securities restated a buy rating and issued a $11.00 price objective on shares of Earthstone Energy in a research report on Tuesday, May 7th. Stephens set a $9.00 price target on shares of Earthstone Energy and gave the company a buy rating in a research report on Wednesday, May 22nd. Royal Bank of Canada reiterated a buy rating and set a $10.00 price target on shares of Earthstone Energy in a research report on Sunday, August 11th. Seaport Global Securities reiterated a buy rating on shares of Earthstone Energy in a research report on Friday, June 21st. Finally, ValuEngine cut shares of Earthstone Energy from a sell rating to a strong sell rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Earthstone Energy currently has a consensus rating of Buy and an average price target of $9.91.

ESTE stock opened at $3.34 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $5.04 and its 200 day moving average is $6.19. The stock has a market cap of $241.03 million, a price-to-earnings ratio of 2.32 and a beta of 1.84. Earthstone Energy has a 1-year low of $3.30 and a 1-year high of $10.19.

Earthstone Energy (NYSE:ESTE) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. The company had revenue of $44.54 million for the quarter, compared to analysts’ expectations of $42.60 million. Earthstone Energy had a net margin of 16.18% and a return on equity of 5.47%. As a group, sell-side analysts forecast that Earthstone Energy will post 0.94 EPS for the current fiscal year.

In other Earthstone Energy news, EVP Tony Oviedo sold 12,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.38, for a total transaction of $76,560.00. Following the transaction, the executive vice president now directly owns 112,530 shares in the company, valued at $717,941.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 63.04% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Investment Counselors of Maryland LLC boosted its stake in shares of Earthstone Energy by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 1,218,858 shares of the oil and gas producer’s stock valued at $7,459,000 after purchasing an additional 13,084 shares during the period. BlackRock Inc. boosted its stake in shares of Earthstone Energy by 18.4% during the second quarter. BlackRock Inc. now owns 1,180,331 shares of the oil and gas producer’s stock valued at $7,224,000 after purchasing an additional 183,419 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of 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 valued at $4,261,000 after purchasing an additional 145,342 shares during the period. Vanguard Group Inc. boosted its stake in shares of Earthstone Energy by 2.5% during the second quarter. Vanguard Group Inc. now owns 888,271 shares of the oil and gas producer’s stock valued at $5,436,000 after purchasing an additional 21,251 shares during the period. Finally, JBF Capital Inc. boosted its stake in shares of Earthstone Energy by 0.3% during the second quarter. JBF Capital Inc. now owns 860,765 shares of the oil and gas producer’s stock valued at $5,268,000 after purchasing an additional 2,728 shares during the period. 21.48% of the stock is owned by hedge funds and other institutional investors.

Earthstone Energy Company Profile

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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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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