Earthstone Energy Inc (NASDAQ:ESTE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Earthstone Energy, Inc., formerly known as Basic Earth Science Systems, Inc., is an independent oil and gas exploration and production company. Its primary focus is in the Montana and North Dakota portions of the Williston basin. The Company is based in Denver, Colorado. “

Several other brokerages also recently issued reports on ESTE. Seaport Global Securities downgraded shares of Earthstone Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $17.00 to $11.00 in a research note on Wednesday, June 21st. Imperial Capital began coverage on shares of Earthstone Energy in a research note on Tuesday, August 1st. They issued an “outperform” rating and a $13.00 target price for the company. Northland Securities set a $18.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Monday, July 17th. Finally, Roth Capital set a $19.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $15.25.

Earthstone Energy (ESTE) traded down 3.04% during trading on Monday, hitting $9.25. The stock had a trading volume of 69,996 shares. The stock has a 50 day moving average price of $9.63 and a 200 day moving average price of $12.00. The company’s market capitalization is $211.83 million. Earthstone Energy has a 12-month low of $7.67 and a 12-month high of $15.70.

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In other Earthstone Energy news, EVP Robert John Anderson sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. Following the completion of the sale, the executive vice president now directly owns 85,613 shares in the company, valued at $856,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Large investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in shares of Earthstone Energy during the second quarter valued at about $105,000. Parametric Portfolio Associates LLC increased its stake in shares of Earthstone Energy by 61.8% in the second quarter. Parametric Portfolio Associates LLC now owns 24,916 shares of the company’s stock valued at $249,000 after buying an additional 9,519 shares during the period. Vanguard Group Inc. increased its stake in shares of Earthstone Energy by 84.9% in the second quarter. Vanguard Group Inc. now owns 520,807 shares of the company’s stock valued at $5,214,000 after buying an additional 239,193 shares during the period. Northern Trust Corp increased its stake in shares of Earthstone Energy by 232.1% in the second quarter. Northern Trust Corp now owns 109,208 shares of the company’s stock valued at $1,093,000 after buying an additional 76,326 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Earthstone Energy by 849.2% in the second quarter. New York State Common Retirement Fund now owns 11,400 shares of the company’s stock valued at $114,000 after buying an additional 10,199 shares during the period.

Earthstone Energy Company Profile

Earthstone Energy, Inc is an independent oil and natural gas development and production company. The Company is also engaged in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. Its operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States.

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