Earthstone Energy Inc (ESTE) Receives Consensus Rating of “Buy” from Analysts
Earthstone Energy Inc (NASDAQ:ESTE) has been given a consensus rating of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $14.50.
Several research analysts have recently commented on ESTE shares. Roth Capital set a $16.00 target price on shares of Earthstone Energy and gave the stock a “buy” rating in a report on Monday, August 21st. Zacks Investment Research cut shares of Earthstone Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Northland Securities set a $18.00 target price on shares of Earthstone Energy and gave the stock a “buy” rating in a report on Monday, July 17th. Seaport Global Securities cut shares of Earthstone Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $17.00 to $11.00 in a research note on Wednesday, June 21st. Finally, Imperial Capital assumed coverage on shares of Earthstone Energy in a research note on Tuesday, August 1st. They issued an “outperform” rating and a $13.00 price objective on the stock.
Earthstone Energy (NASDAQ:ESTE) opened at 10.13 on Friday. The stock has a 50 day moving average price of $9.60 and a 200 day moving average price of $11.39. Earthstone Energy has a one year low of $7.67 and a one year high of $15.70. The firm’s market capitalization is $231.99 million.
In related news, EVP Robert John Anderson sold 15,000 shares of Earthstone Energy stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $10.00, for a total value of $150,000.00. Following the transaction, the executive vice president now directly owns 85,613 shares of the company’s stock, valued at $856,130. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Institutional investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in Earthstone Energy in the second quarter valued at approximately $105,000. New York State Common Retirement Fund boosted its position in 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 in the last quarter. Virtu KCG Holdings LLC acquired a new stake in Earthstone Energy in the second quarter valued at approximately $120,000. Brandywine Global Investment Management LLC acquired a new stake in Earthstone Energy in the second quarter valued at approximately $122,000. Finally, California State Teachers Retirement System boosted its position in Earthstone Energy by 295.2% in the second quarter. California State Teachers Retirement System now owns 17,537 shares of the company’s stock valued at $176,000 after buying an additional 13,100 shares in the last quarter.
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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