Earthstone Energy, Inc. (NYSE:ESTE) Given Average Recommendation of “Buy” by Analysts

Shares of Earthstone Energy, Inc. (NYSE:ESTEGet Rating) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $21.00.

Several analysts recently issued reports on the company. StockNews.com lowered Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Wells Fargo & Company upped their target price on Earthstone Energy from $13.00 to $17.00 and gave the stock an “underweight” rating in a report on Monday, March 14th. Truist Financial upped their target price on Earthstone Energy from $25.00 to $30.00 in a report on Thursday, April 21st. Roth Capital reiterated a “buy” rating on shares of Earthstone Energy in a report on Tuesday, February 8th. Finally, Stephens started coverage on Earthstone Energy in a research note on Wednesday, April 13th. They issued an “equal weight” rating and a $15.00 price objective on the stock.

Shares of ESTE stock traded up $1.18 on Friday, hitting $19.10. 1,688,404 shares of the stock were exchanged, compared to its average volume of 960,894. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $2.06 billion, a P/E ratio of 100.53 and a beta of 2.16. The business has a 50-day moving average of $14.24 and a 200 day moving average of $12.80. Earthstone Energy has a fifty-two week low of $7.01 and a fifty-two week high of $19.10.

Earthstone Energy (NYSE:ESTEGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share for the quarter, topping 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%. Earthstone Energy’s revenue for the quarter was up 159.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, research analysts forecast that Earthstone Energy will post 3.39 EPS for the current fiscal year.

In other news, Director Jay Frederick Joliat sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $13.69, for a total transaction of $239,575.00. Following the transaction, the director now owns 93,450 shares in the company, valued at $1,279,330.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tony Oviedo sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $13.71, for a total value of $685,500.00. Following the transaction, the executive vice president now owns 180,555 shares in the company, valued at approximately $2,475,409.05. The disclosure for this sale can be found here. Insiders sold 147,500 shares of company stock worth $2,031,175 in the last 90 days. Corporate insiders own 52.45% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its position in Earthstone Energy by 44.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 739 shares in the last quarter. Ellevest Inc. grew its position in Earthstone Energy by 130.1% during the fourth quarter. Ellevest Inc. now owns 4,056 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 2,293 shares in the last quarter. Citigroup Inc. grew its position in Earthstone Energy by 329.9% during the third quarter. Citigroup Inc. now owns 4,896 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 3,757 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Earthstone Energy by 58.6% during the third quarter. BNP Paribas Arbitrage SA now owns 5,746 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 2,124 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Earthstone Energy during the fourth quarter worth approximately $71,000.

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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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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