Earthstone Energy Inc (ESTE) Receives Average Recommendation of “Buy” from Brokerages

Earthstone Energy Inc (NYSE:ESTE) has earned a consensus rating of “Buy” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $14.60.

ESTE has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Earthstone Energy from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Monday, January 8th. Seaport Global Securities raised shares of Earthstone Energy from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, December 5th. ValuEngine cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Robert W. Baird set a $14.00 price target on shares of Earthstone Energy and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, BidaskClub raised shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Earthstone Energy by 8.5% during the second 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 during the period. American International Group Inc. raised its holdings in shares of Earthstone Energy by 109.0% during the third 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 during the period. Wells Fargo & Company MN raised its holdings in shares of Earthstone Energy by 1.0% during the fourth quarter. Wells Fargo & Company MN now owns 864,116 shares of the oil and gas producer’s stock valued at $9,185,000 after purchasing an additional 8,384 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Earthstone Energy by 61.8% during the second 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 during the period. Finally, New York State Common Retirement Fund raised its holdings in shares of 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 purchasing an additional 10,199 shares during the period. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Shares of Earthstone Energy (NYSE:ESTE) opened at $9.60 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.11. The company has a market cap of $588.55, a price-to-earnings ratio of -4.51 and a beta of 1.15. Earthstone Energy has a 1 year low of $7.85 and a 1 year high of $15.50.

COPYRIGHT VIOLATION WARNING: This report was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/02/14/earthstone-energy-inc-este-receives-average-recommendation-of-buy-from-brokerages.html.

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)

Receive News & Ratings for Earthstone Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply