$26.73 Million in Sales Expected for Lonestar Resources US Inc. (LONE) This Quarter
Equities analysts expect that Lonestar Resources US Inc. (NASDAQ:LONE) will announce sales of $26.73 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Lonestar Resources US’s earnings, with estimates ranging from $26.10 million to $27.90 million. Lonestar Resources US reported sales of $15.54 million during the same quarter last year, which indicates a positive year-over-year growth rate of 72%. The business is expected to announce its next earnings results on Thursday, November 9th.
On average, analysts expect that Lonestar Resources US will report full year sales of $26.73 million for the current financial year, with estimates ranging from $88.50 million to $94.60 million. For the next year, analysts anticipate that the company will post sales of $128.79 million per share, with estimates ranging from $105.40 million to $145.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Lonestar Resources US.
LONE has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Lonestar Resources US from a “hold” rating to a “strong-buy” rating and set a $3.50 price target for the company in a research note on Tuesday, August 22nd. ValuEngine lowered shares of Lonestar Resources US from a “sell” rating to a “strong sell” rating in a research report on Friday, July 7th. Roth Capital lowered their price target on shares of Lonestar Resources US from $15.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, July 20th. Finally, Cowen and Company restated a “buy” rating and set a $7.00 price target on shares of Lonestar Resources US in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $8.06.
In related news, Director Stephen H. Oglesby purchased 10,000 shares of the stock in a transaction on Friday, August 25th. The shares were bought at an average price of $3.10 per share, for a total transaction of $31,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $31,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have acquired 22,200 shares of company stock worth $66,836. Corporate insiders own 2.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP bought a new stake in shares of Lonestar Resources US in the second quarter valued at approximately $242,000. Phoenix Investment Adviser LLC raised its stake in Lonestar Resources US by 85.8% during the second quarter. Phoenix Investment Adviser LLC now owns 186,700 shares of the energy company’s stock worth $803,000 after acquiring an additional 86,204 shares in the last quarter. Vanguard Group Inc. raised its stake in Lonestar Resources US by 1.6% during the second quarter. Vanguard Group Inc. now owns 348,999 shares of the energy company’s stock worth $1,500,000 after acquiring an additional 5,372 shares in the last quarter. B. Riley Financial Inc. acquired a new position in Lonestar Resources US during the second quarter worth $2,744,000. Finally, Victory Capital Management Inc. raised its stake in Lonestar Resources US by 25.0% during the second quarter. Victory Capital Management Inc. now owns 920,709 shares of the energy company’s stock worth $3,959,000 after acquiring an additional 183,904 shares in the last quarter. 50.58% of the stock is owned by institutional investors.
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Lonestar Resources US Company Profile
Lonestar Resources Limited is an Australia-based oil and gas exploration and production company. The Company is involved in the exploration, production and acquisition of unconventional oil and gas reserves. It holds interests in approximately 38,191 net acres in the Eagle Ford Shale, Bakken and Three Forks plays.
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