Earthstone Energy (NYSE:ESTE) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Earthstone Energy (NYSE:ESTEGet Rating) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lifted their price target on Earthstone Energy from $13.00 to $17.00 and gave the company an underweight rating in a research report on Monday, March 14th. TheStreet raised Earthstone Energy from a c rating to a b rating in a research note on Tuesday, April 5th. Truist Financial lifted their price objective on Earthstone Energy from $25.00 to $30.00 in a research note on Thursday, April 21st. Zacks Investment Research raised Earthstone Energy from a hold rating to a buy rating and set a $16.00 price objective for the company in a research note on Tuesday, April 19th. Finally, Alliance Global Partners lifted their price objective on Earthstone Energy from $28.00 to $33.00 in a research note on Friday, February 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $20.36.

Shares of NYSE ESTE opened at $13.72 on Friday. The stock has a market cap of $1.48 billion, a PE ratio of 72.21 and a beta of 2.16. Earthstone Energy has a fifty-two week low of $7.01 and a fifty-two week high of $17.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a fifty day moving average of $13.56 and a 200-day moving average of $12.48.

Earthstone Energy (NYSE:ESTEGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.22. The company had revenue of $196.10 million during the quarter, compared to analysts’ expectations of $166.65 million. Earthstone Energy had a return on equity of 16.38% and a net margin of 1.45%. The firm’s quarterly revenue was up 159.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. On average, sell-side analysts predict that Earthstone Energy will post 3.39 EPS for the current year.

In other news, Director Jay Frederick Joliat sold 17,500 shares of Earthstone Energy stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $13.69, for a total value of $239,575.00. Following the transaction, the director now owns 93,450 shares in the company, valued at $1,279,330.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Frank Alan Lodzinski sold 50,000 shares of Earthstone Energy stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $12.24, for a total value of $612,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,500 shares of company stock valued at $2,031,175. Corporate insiders own 52.45% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESTE. Ontario Teachers Pension Plan Board purchased a new position in shares of Earthstone Energy in the first quarter worth about $43,570,000. Encap Energy Capital Fund Viii L.P. purchased a new position in shares of Earthstone Energy in the first quarter worth about $29,087,000. William Blair Investment Management LLC increased its holdings in shares of Earthstone Energy by 50,211.3% in the third quarter. William Blair Investment Management LLC now owns 1,750,832 shares of the oil and gas producer’s stock worth $16,108,000 after buying an additional 1,747,352 shares during the period. New York State Common Retirement Fund increased its holdings in Earthstone Energy by 5,643.2% during the 1st quarter. New York State Common Retirement Fund now owns 1,035,043 shares of the oil and gas producer’s stock valued at $13,073,000 after purchasing an additional 1,017,021 shares during the period. Finally, Moody Aldrich Partners LLC purchased a new position in Earthstone Energy during the 1st quarter valued at about $7,563,000.

Earthstone Energy Company Profile (Get Rating)

Earthstone Energy, Inc, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States. The company's asset portfolio includes the Midland Basin of West Texas, Delaware Basin in New Mexico, and the Eagle Ford trend of south Texas.

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