Earthstone Energy (ESTE) Coverage Initiated by Analysts at KLR Group

Analysts at KLR Group assumed coverage on shares of Earthstone Energy (NYSE:ESTE) in a research note issued on Thursday. The brokerage set a “buy” rating and a $17.00 price target on the oil and gas producer’s stock. KLR Group’s price target would suggest a potential upside of 77.64% from the company’s previous close.

Several other research analysts have also issued reports on the stock. BidaskClub upgraded shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Northland Securities set a $14.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a research note on Monday, December 11th. Roth Capital set a $16.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a research note on Thursday, October 12th. Wells Fargo & Co initiated coverage on shares of Earthstone Energy in a research note on Thursday, November 30th. They issued an “outperform” rating and a $12.00 price target for the company. Finally, Zacks Investment Research lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Earthstone Energy has a consensus rating of “Buy” and a consensus price target of $14.27.

Earthstone Energy (ESTE) opened at $9.57 on Thursday. 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 1-year low of $7.85 and a 1-year high of $15.50. The company has a market cap of $631.13, a price-to-earnings ratio of -4.49 and a beta of 1.15.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Earthstone Energy by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 35,607 shares of the oil and gas producer’s stock valued at $356,000 after purchasing an additional 2,787 shares in the last quarter. American International Group Inc. increased its stake in Earthstone Energy by 109.0% during the 3rd quarter. American International Group Inc. now owns 12,796 shares of the oil and gas producer’s stock valued at $141,000 after purchasing an additional 6,673 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Earthstone Energy by 61.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 24,916 shares of the oil and gas producer’s stock valued at $249,000 after purchasing an additional 9,519 shares in the last quarter. New York State Common Retirement Fund increased its stake in Earthstone Energy by 849.2% during the 2nd 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 purchasing an additional 10,199 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Earthstone Energy during the 2nd quarter valued at about $105,000. Institutional investors and hedge funds own 13.84% of the company’s stock.

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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.

Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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