Earthstone Energy (NYSE:ESTE) Shares Up 10.7%

Earthstone Energy Inc (NYSE:ESTE) shot up 10.7% on Wednesday . The stock traded as high as $4.81 and last traded at $4.77, 167,300 shares changed hands during mid-day trading. A decline of 3% from the average session volume of 172,842 shares. The stock had previously closed at $4.31.

Several brokerages have recently weighed in on ESTE. SunTrust Banks reduced their price target on Earthstone Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Northland Securities reiterated a “buy” rating and issued a $6.00 price target on shares of Earthstone Energy in a report on Thursday, November 7th. Seaport Global Securities downgraded Earthstone Energy from a “buy” rating to a “neutral” rating in a report on Thursday, October 10th. ValuEngine upgraded Earthstone Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Earthstone Energy in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $8.41.

The firm has a fifty day simple moving average of $4.45 and a 200 day simple moving average of $4.65. The company has a market capitalization of $278.30 million, a PE ratio of 3.31 and a beta of 2.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.48 and a current ratio of 0.48.

Earthstone Energy (NYSE:ESTE) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $39.20 million for the quarter, compared to the consensus estimate of $39.38 million. Earthstone Energy had a return on equity of 6.23% and a net margin of 23.82%. Research analysts expect that Earthstone Energy Inc will post 0.83 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESTE. BlackRock Inc. increased its holdings in Earthstone Energy by 18.4% during the 2nd quarter. BlackRock Inc. now owns 1,180,331 shares of the oil and gas producer’s stock worth $7,224,000 after purchasing an additional 183,419 shares during the period. Strs Ohio increased its holdings in shares of Earthstone Energy by 296.5% in the 2nd quarter. Strs Ohio now owns 78,900 shares of the oil and gas producer’s stock valued at $482,000 after acquiring an additional 59,000 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in shares of Earthstone Energy in the 2nd quarter valued at $348,000. Victory Capital Management Inc. increased its holdings in shares of Earthstone Energy by 14.0% in the 2nd quarter. Victory Capital Management Inc. now owns 250,098 shares of the oil and gas producer’s stock valued at $1,531,000 after acquiring an additional 30,683 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Earthstone Energy by 105.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 48,274 shares of the oil and gas producer’s stock valued at $295,000 after acquiring an additional 24,813 shares during the period. Institutional investors own 21.42% of the company’s stock.

Earthstone Energy Company Profile (NYSE:ESTE)

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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