$29.32 Million in Sales Expected for Earthstone Energy Inc (ESTE) This Quarter
Equities analysts expect Earthstone Energy Inc (NASDAQ:ESTE) to report $29.32 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Earthstone Energy’s earnings, with the highest sales estimate coming in at $31.60 million and the lowest estimate coming in at $27.13 million. Earthstone Energy posted sales of $10.59 million in the same quarter last year, which suggests a positive year-over-year growth rate of 176.9%. The business is scheduled to report its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Earthstone Energy will report full-year sales of $29.32 million for the current year, with estimates ranging from $100.12 million to $110.70 million. For the next year, analysts forecast that the business will post sales of $164.73 million per share, with estimates ranging from $119.10 million to $190.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Earthstone Energy.
A number of research analysts recently issued reports on ESTE shares. Roth Capital set a $19.00 price objective on Earthstone Energy and gave the company a “buy” rating in a research report on Wednesday, July 19th. Northland Securities set a $18.00 target price on Earthstone Energy and gave the company a “buy” rating in a research note on Monday, August 21st. Imperial Capital began coverage on Earthstone Energy in a research note on Tuesday, August 1st. They set an “outperform” rating and a $13.00 target price on the stock. Zacks Investment Research raised Earthstone Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Seaport Global Securities downgraded 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $14.50.
In other news, EVP Robert John Anderson sold 15,000 shares of the business’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $10.00, for a total value of $150,000.00. Following the sale, the executive vice president now owns 85,613 shares of the company’s stock, valued at approximately $856,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several institutional investors and hedge funds have recently bought and sold shares of ESTE. Northpointe Capital LLC grew its holdings in shares of Earthstone Energy by 25.3% in the 2nd quarter. Northpointe Capital LLC now owns 696,861 shares of the company’s stock worth $6,976,000 after acquiring an additional 140,858 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Earthstone Energy in the 2nd quarter worth $187,000. Citadel Advisors LLC acquired a new position in shares of Earthstone Energy in the 2nd quarter worth $105,000. Parametric Portfolio Associates LLC grew its holdings in shares of Earthstone Energy by 61.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 24,916 shares of the company’s stock worth $249,000 after acquiring an additional 9,519 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Earthstone Energy by 84.9% in the 2nd quarter. Vanguard Group Inc. now owns 520,807 shares of the company’s stock worth $5,214,000 after acquiring an additional 239,193 shares during the last quarter.
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Shares of Earthstone Energy (NASDAQ ESTE) opened at 10.37 on Friday. The stock’s 50 day moving average price is $9.49 and its 200 day moving average price is $11.53. Earthstone Energy has a 1-year low of $7.67 and a 1-year high of $15.70. The stock’s market cap is $237.48 million.
About Earthstone Energy
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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