Earthstone Energy (NYSE:ESTE) Downgraded to “Neutral” at Seaport Global Securities

Earthstone Energy (NYSE:ESTE) was downgraded by Seaport Global Securities from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat Ratings reports.

Other research analysts have also recently issued reports about the company. ValuEngine upgraded Earthstone Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co reiterated a “hold” rating on shares of Earthstone Energy in a research report on Tuesday, August 13th. Zacks Investment Research cut Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Northland Securities reiterated a “buy” rating and set a $6.00 price target on shares of Earthstone Energy in a research report on Sunday, September 1st. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $9.28.

Earthstone Energy stock opened at $3.77 on Thursday. The stock has a 50-day moving average price of $3.58 and a 200 day moving average price of $5.36. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $232.01 million, a price-to-earnings ratio of 2.62 and a beta of 1.85. Earthstone Energy has a 52 week low of $3.00 and a 52 week high of $10.15.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $44.54 million during the quarter, compared to analysts’ expectations of $42.60 million. Earthstone Energy had a return on equity of 5.47% and a net margin of 16.18%. Research analysts anticipate that Earthstone Energy will post 1.05 EPS for the current fiscal year.

In related news, President Robert John Anderson purchased 10,000 shares of Earthstone Energy stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $3.20 per share, for a total transaction of $32,000.00. Following the completion of the transaction, the president now owns 305,700 shares in the company, valued at $978,240. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 63.04% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Earthstone Energy by 168.4% in the second quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 2,567 shares in the last quarter. JBF Capital Inc. increased its position in shares of Earthstone Energy by 0.3% in 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 buying an additional 2,728 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Earthstone Energy by 312.3% in the first quarter. BNP Paribas Arbitrage SA now owns 4,045 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 3,064 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Earthstone Energy by 9.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 47,590 shares of the oil and gas producer’s stock valued at $292,000 after buying an additional 4,287 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Earthstone Energy by 2.1% in the second quarter. Northern Trust Corp now owns 254,753 shares of the oil and gas producer’s stock valued at $1,559,000 after buying an additional 5,258 shares in the last quarter. Institutional investors and hedge funds own 21.34% of the company’s stock.

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.

Featured Article: Sell-Side Analysts

Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

Receive News & Ratings for Earthstone Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy and related companies with MarketBeat.com's FREE daily email newsletter.