Earthstone Energy Inc (NYSE:ESTE) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 847,500 shares, an increase of 10.0% from the June 30th total of 770,400 shares. Based on an average trading volume of 175,500 shares, the short-interest ratio is presently 4.8 days. Approximately 4.6% of the shares of the stock are short sold.
Shares of NYSE ESTE traded down $0.22 during midday trading on Wednesday, hitting $3.52. The company’s stock had a trading volume of 152,864 shares, compared to its average volume of 159,632. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is $5.08. Earthstone Energy has a 12-month low of $3.42 and a 12-month high of $10.19. The firm has a market capitalization of $259.85 million, a price-to-earnings ratio of 2.44 and a beta of 1.84.
Earthstone Energy (NYSE:ESTE) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $44.54 million for the quarter, compared to the consensus estimate of $42.60 million. Earthstone Energy had a return on equity of 5.47% and a net margin of 16.18%. As a group, research analysts expect that Earthstone Energy will post 0.94 EPS for the current year.
A number of research firms have recently weighed in on ESTE. Seaport Global Securities reaffirmed a “buy” rating on shares of Earthstone Energy in a research note on Friday, June 21st. Northland Securities reissued a “buy” rating and set a $11.00 price target on shares of Earthstone Energy in a research note on Tuesday, May 7th. Zacks Investment Research lowered Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Co reissued a “hold” rating on shares of Earthstone Energy in a research note on Tuesday. Finally, ValuEngine lowered Earthstone Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Earthstone Energy has a consensus rating of “Buy” and an average price target of $9.91.
In other news, EVP Tony Oviedo sold 12,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.38, for a total value of $76,560.00. Following the completion of the transaction, the executive vice president now owns 112,530 shares of the company’s stock, valued at $717,941.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 63.04% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Bank of Montreal Can lifted its position in Earthstone Energy by 168.4% during the 2nd quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 2,567 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Earthstone Energy by 312.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,045 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 3,064 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Earthstone Energy in the 4th quarter valued at about $69,000. Jefferies Group LLC purchased a new position in shares of Earthstone Energy in the 2nd quarter valued at about $70,000. Finally, Squarepoint Ops LLC increased its stake in shares of Earthstone Energy by 83.0% in the 4th quarter. Squarepoint Ops LLC now owns 22,142 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 10,042 shares in the last quarter. Institutional investors and hedge funds own 21.48% of the company’s stock.
About Earthstone Energy
Earthstone Energy, Inc, an independent energy company, engages in the development and operation of oil and gas properties in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2018, the company operated 93 gross Eagle Ford wells; and 13 gross Austin Chalk wells, as well as had 98,847 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 23,646 MBOE of proved developed reserves and 75,201 MBOE of proved undeveloped reserves.
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