Earthstone Energy (NYSE:ESTE) was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $11.00 price objective on the oil and gas producer’s stock. Seaport Global Securities’ price objective would suggest a potential upside of 17.90% from the company’s previous close.

Other research analysts have also issued reports about the company. Roth Capital set a $16.00 price target on Earthstone Energy and gave the company a “buy” rating in a report on Monday, August 21st. Zacks Investment Research raised Earthstone Energy from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Robert W. Baird reaffirmed a “buy” rating on shares of Earthstone Energy in a research note on Sunday, September 17th. 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. Finally, SunTrust Banks set a $15.00 target price on Earthstone Energy and gave the company a “buy” rating in a research note on Friday, October 20th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.91.

Shares of Earthstone Energy (ESTE) traded down $0.05 on Tuesday, hitting $9.33. The stock had a trading volume of 222,700 shares, compared to its average volume of 131,209. The firm has a market capitalization of $596.17, a price-to-earnings ratio of 11.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.59 and a quick ratio of 0.59. Earthstone Energy has a 52 week low of $7.85 and a 52 week high of $15.50.

Hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in Earthstone Energy during the second quarter valued at about $105,000. New York State Common Retirement Fund boosted its stake in Earthstone Energy by 849.2% during the second quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock valued at $114,000 after buying an additional 10,199 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in Earthstone Energy during the second quarter valued at about $120,000. Brandywine Global Investment Management LLC acquired a new position in shares of Earthstone Energy in the 2nd quarter valued at $122,000. Finally, Rhumbline Advisers acquired a new position in shares of Earthstone Energy in the 3rd quarter valued at $135,000. 13.43% of the stock is owned by institutional investors and hedge funds.

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Earthstone Energy Company Profile

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.

Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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