Earthstone Energy Inc (ESTE) Expected to Post Quarterly Sales of $30.61 Million
Equities analysts forecast that Earthstone Energy Inc (NASDAQ:ESTE) will announce sales of $30.61 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Earthstone Energy’s earnings. The highest sales estimate is $31.10 million and the lowest is $30.00 million. Earthstone Energy reported sales of $10.59 million during the same quarter last year, which suggests a positive year over year growth rate of 189%. The company is expected to announce its next earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Earthstone Energy will report full year sales of $30.61 million for the current fiscal year, with estimates ranging from $100.43 million to $109.80 million. For the next fiscal year, analysts forecast that the business will report sales of $159.08 million per share, with estimates ranging from $117.70 million to $190.60 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Earthstone Energy.
Several analysts recently issued reports on the company. BidaskClub upgraded Earthstone Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Northland Securities restated a “buy” rating and set a $18.00 price target on shares of Earthstone Energy in a report on Tuesday, September 26th. Zacks Investment Research upgraded Earthstone Energy from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, October 17th. Roth Capital set a $16.00 price target on Earthstone Energy and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Robert W. Baird restated a “buy” rating on shares of Earthstone Energy in a report on Sunday, September 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $14.14.
Several hedge funds have recently modified their holdings of the stock. Sanders Morris Harris LLC raised its position in Earthstone Energy by 75.3% during the 3rd quarter. Sanders Morris Harris LLC now owns 151,563 shares of the company’s stock valued at $1,666,000 after purchasing an additional 65,093 shares in the last quarter. California State Teachers Retirement System raised its position in Earthstone Energy by 295.2% during the 2nd quarter. California State Teachers Retirement System now owns 17,537 shares of the company’s stock valued at $176,000 after purchasing an additional 13,100 shares in the last quarter. Argent Capital Management LLC raised its position in Earthstone Energy by 17.4% during the 2nd quarter. Argent Capital Management LLC now owns 138,765 shares of the company’s stock valued at $1,389,000 after purchasing an additional 20,550 shares in the last quarter. State Street Corp raised its position in Earthstone Energy by 62.0% during the 2nd quarter. State Street Corp now owns 61,391 shares of the company’s stock valued at $614,000 after purchasing an additional 23,506 shares in the last quarter. Finally, Columbia Pacific Advisors LLC bought a new stake in Earthstone Energy during the 2nd quarter valued at $1,337,000.
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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