Earthstone Energy Inc (ESTE) Receives Average Rating of “Buy” from Analysts

Earthstone Energy Inc (NYSE:ESTE) has earned a consensus recommendation of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $14.22.

A number of equities analysts have commented on ESTE shares. Robert W. Baird set a $14.00 price objective on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Friday, October 20th. BidaskClub raised shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Wells Fargo & Co started coverage on shares of Earthstone Energy in a research report on Thursday, November 30th. They set an “outperform” rating and a $12.00 price objective for the company. Zacks Investment Research cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Roth Capital set a $16.00 price objective on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Monday, October 30th.

Earthstone Energy (ESTE) opened at $11.25 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.11. Earthstone Energy has a 52-week low of $7.85 and a 52-week high of $15.50. The company has a market cap of $715.05, a price-to-earnings ratio of -5.28 and a beta of 1.42.

Earthstone Energy (NYSE:ESTE) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas producer reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. Earthstone Energy had a negative net margin of 54.69% and a positive return on equity of 4.01%. equities analysts predict that Earthstone Energy will post -0.55 EPS for the current year.

Several institutional investors have recently made changes to their positions in ESTE. Schwab Charles Investment Management Inc. bought a new stake in shares of Earthstone Energy in the second quarter valued at about $187,000. Bank of New York Mellon Corp boosted its position in shares of Earthstone Energy by 153.2% in the second quarter. Bank of New York Mellon Corp now owns 42,661 shares of the oil and gas producer’s stock valued at $427,000 after acquiring an additional 25,813 shares during the period. Wells Fargo & Company MN boosted its position in shares of Earthstone Energy by 126,489.0% in the second quarter. Wells Fargo & Company MN now owns 854,476 shares of the oil and gas producer’s stock valued at $8,553,000 after acquiring an additional 853,801 shares during the period. Teachers Advisors LLC boosted its position in shares of Earthstone Energy by 144.8% in the second quarter. Teachers Advisors LLC now owns 19,147 shares of the oil and gas producer’s stock valued at $192,000 after acquiring an additional 11,327 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Earthstone Energy by 987.6% in the second quarter. TIAA CREF Investment Management LLC now owns 42,328 shares of the oil and gas producer’s stock valued at $424,000 after acquiring an additional 38,436 shares during the period. 13.41% of the stock is owned by institutional investors.

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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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