Northland Securities reaffirmed their buy rating on shares of Earthstone Energy (NYSE:ESTE) in a research report released on Thursday morning, AnalystRatings.com reports. Northland Securities currently has a $6.00 price objective on the oil and gas producer’s stock.
Several other research firms have also weighed in on ESTE. Royal Bank of Canada reissued a buy rating and set a $10.00 price objective on shares of Earthstone Energy in a research note on Sunday, August 11th. Seaport Global Securities lowered Earthstone Energy from a buy rating to a neutral rating in a research note on Thursday, October 10th. Zacks Investment Research lowered Earthstone Energy from a buy rating to a hold rating in a research note on Tuesday, July 23rd. SunTrust Banks reduced their price objective on Earthstone Energy from $8.00 to $7.00 and set a buy rating for the company in a research note on Wednesday, October 16th. Finally, ValuEngine raised Earthstone Energy from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $8.03.
Shares of ESTE traded up $0.20 during trading hours on Thursday, hitting $5.65. 227,918 shares of the company were exchanged, compared to its average volume of 170,264. The company has a market capitalization of $309.99 million, a PE ratio of 3.92 and a beta of 1.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a fifty day simple moving average of $3.81 and a 200-day simple moving average of $4.92. Earthstone Energy has a one year low of $3.00 and a one year high of $8.12.
Earthstone Energy (NYSE:ESTE) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $39.20 million during the quarter, compared to analyst estimates of $39.38 million. Earthstone Energy had a return on equity of 5.47% and a net margin of 16.18%. Sell-side analysts expect that Earthstone Energy will post 0.95 EPS for the current year.
In other Earthstone Energy news, President Robert John Anderson bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $3.20 per share, with a total value of $32,000.00. Following the completion of the transaction, the president now directly owns 305,700 shares in the company, valued at approximately $978,240. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 63.04% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Earthstone Energy by 11.0% in the third quarter. Rhumbline Advisers now owns 29,542 shares of the oil and gas producer’s stock worth $96,000 after buying an additional 2,922 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Earthstone Energy by 14.0% during the second quarter. Victory Capital Management Inc. now owns 250,098 shares of the oil and gas producer’s stock worth $1,531,000 after acquiring an additional 30,683 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Earthstone Energy by 105.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 48,274 shares of the oil and gas producer’s stock worth $295,000 after acquiring an additional 24,813 shares in the last quarter. Jefferies Group LLC purchased a new stake in shares of Earthstone Energy during the second quarter worth $70,000. Finally, Vanguard Group Inc. raised its holdings 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 worth $5,436,000 after acquiring an additional 21,251 shares in the last quarter. 21.32% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading: How does a security become overbought?
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.