Earthstone Energy (NYSE:ESTE) Trading Up 7.1%

Earthstone Energy, Inc. (NYSE:ESTE)’s stock price was up 7.1% during mid-day trading on Monday . The company traded as high as $8.87 and last traded at $8.85. Approximately 948 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 317,862 shares. The stock had previously closed at $8.26.

Several equities analysts have recently weighed in on the company. Alliance Global Partners boosted their target price on Earthstone Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, June 15th. Wells Fargo & Company downgraded Earthstone Energy from an “equal weight” rating to an “underweight” rating and set a C$10.00 target price on the stock. in a research report on Monday, August 23rd. Finally, Roth Capital boosted their target price on Earthstone Energy from $12.50 to $16.50 and gave the company a “buy” rating in a research report on Thursday, July 8th.

The company has a 50-day simple moving average of $9.08 and a 200 day simple moving average of $8.95. The company has a market cap of $654.99 million, a P/E ratio of -10.42 and a beta of 2.91. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings data on Wednesday, August 4th. The oil and gas producer reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The company had revenue of $89.67 million for the quarter, compared to the consensus estimate of $71.37 million. Earthstone Energy had a positive return on equity of 5.09% and a negative net margin of 11.78%. On average, equities analysts forecast that Earthstone Energy, Inc. will post 0.97 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in ESTE. The Manufacturers Life Insurance Company purchased a new stake in shares of Earthstone Energy in the 1st quarter worth $110,000. Victory Capital Management Inc. lifted its holdings in shares of Earthstone Energy by 2.8% in the 1st quarter. Victory Capital Management Inc. now owns 176,470 shares of the oil and gas producer’s stock worth $1,262,000 after buying an additional 4,807 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Earthstone Energy by 65.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,524 shares of the oil and gas producer’s stock worth $90,000 after buying an additional 4,977 shares during the period. BlackRock Inc. lifted its holdings in shares of Earthstone Energy by 3.6% in the 1st quarter. BlackRock Inc. now owns 1,495,763 shares of the oil and gas producer’s stock worth $10,694,000 after buying an additional 52,645 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Earthstone Energy in the 1st quarter worth $148,000. 39.45% of the stock is currently owned by institutional investors.

Earthstone Energy Company Profile (NYSE:ESTE)

Earthstone Energy, Inc is an independent oil and gas holding company. It engages in the acquisition, exploration, development, and production of oil and gas reserves. It also focuses on the Midland Basin and Eagle Ford Trend properties. The company was founded on July 7, 1969 and is headquartered in The Woodlands, TX.

Featured Story: What are the disadvantages of after-hours trading?

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.