Earthstone Energy Inc (ESTE) PT Set at $16.00 by Roth Capital
Earthstone Energy Inc (NASDAQ:ESTE) has been given a $16.00 target price by Roth Capital in a report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Roth Capital’s price objective would indicate a potential upside of 55.04% from the stock’s current price.
A number of other research analysts also recently issued reports on the company. Northland Securities reiterated a “buy” rating and issued a $18.00 price target on shares of Earthstone Energy in a report on Tuesday, September 26th. BidaskClub upgraded Earthstone Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Robert W. Baird reiterated a “buy” rating on shares of Earthstone Energy in a report on Sunday, September 17th. Zacks Investment Research upgraded Earthstone Energy from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, Imperial Capital assumed coverage on Earthstone Energy in a report on Tuesday, August 1st. They issued an “outperform” rating and a $13.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $14.50.
Shares of Earthstone Energy (ESTE) traded down 4.44% during midday trading on Thursday, reaching $10.32. The company had a trading volume of 61,401 shares. The stock’s market capitalization is $236.34 million. The firm’s 50 day moving average price is $10.28 and its 200-day moving average price is $11.12. Earthstone Energy has a 1-year low of $8.02 and a 1-year high of $15.70.
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In other news, EVP Robert John Anderson sold 15,000 shares of Earthstone Energy 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 transaction, the executive vice president now directly owns 85,613 shares in the company, valued at approximately $856,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
A number of hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in Earthstone Energy by 126,489.0% during the 2nd quarter. Wells Fargo & Company MN now owns 854,476 shares of the company’s stock worth $8,553,000 after buying an additional 853,801 shares during the last quarter. Northpointe Capital LLC grew its stake in Earthstone Energy by 25.3% during the 2nd quarter. Northpointe Capital LLC now owns 696,861 shares of the company’s stock worth $6,976,000 after buying an additional 140,858 shares during the last quarter. Vanguard Group Inc. grew its stake in Earthstone Energy by 84.9% during the 2nd quarter. Vanguard Group Inc. now owns 520,807 shares of the company’s stock worth $5,214,000 after buying an additional 239,193 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Earthstone Energy by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 388,040 shares of the company’s stock worth $3,884,000 after buying an additional 94,469 shares during the last quarter. Finally, Argent Capital Management LLC grew its stake in Earthstone Energy by 17.4% during the 2nd quarter. Argent Capital Management LLC now owns 138,765 shares of the company’s stock worth $1,389,000 after buying an additional 20,550 shares during 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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