Earthstone Energy (NYSE:ESTE) Stock Price Up 7.9%

Earthstone Energy Inc (NYSE:ESTE) rose 7.9% on Monday . The stock traded as high as $4.35 and last traded at $4.09, approximately 271,861 shares were traded during trading. An increase of 67% from the average daily volume of 163,135 shares. The stock had previously closed at $3.79.

ESTE has been the topic of several recent analyst reports. Seaport Global Securities reiterated a “buy” rating on shares of Earthstone Energy in a research report on Friday, June 21st. Wells Fargo & Co reiterated a “hold” rating on shares of Earthstone Energy in a research report on Tuesday, August 13th. Northland Securities reiterated a “buy” rating and set a $6.00 target price on shares of Earthstone Energy in a research report on Sunday, September 1st. Stephens set a $9.00 target price on Earthstone Energy and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $10.00 target price on shares of Earthstone Energy in a research report on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Earthstone Energy presently has a consensus rating of “Buy” and an average price target of $9.28.

The company has a market capitalization of $268.09 million, a price-to-earnings ratio of 2.84 and a beta of 1.90. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $3.63 and a 200 day simple moving average of $5.73.



Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. The company had revenue of $44.54 million during the quarter, compared to analyst estimates of $42.60 million. Earthstone Energy had a return on equity of 5.47% and a net margin of 16.18%. On average, research analysts forecast that Earthstone Energy Inc will post 1.01 EPS for the current fiscal year.

In other Earthstone Energy 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 transaction of $76,560.00. Following the completion of the sale, the executive vice president now directly owns 112,530 shares in the company, valued at $717,941.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Robert John Anderson purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of $3.20 per share, with a total value of $32,000.00. Following the completion of the purchase, the president now directly owns 305,700 shares of the company’s stock, valued at $978,240. The disclosure for this purchase can be found here. Corporate insiders own 63.04% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Globeflex Capital L P grew its stake in shares of Earthstone Energy by 22.8% in the first quarter. Globeflex Capital L P now owns 42,769 shares of the oil and gas producer’s stock valued at $303,000 after buying an additional 7,951 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of Earthstone Energy by 132.3% in the second quarter. WINTON GROUP Ltd now owns 25,239 shares of the oil and gas producer’s stock valued at $154,000 after buying an additional 14,374 shares in the last quarter. Strs Ohio grew its stake in shares of Earthstone Energy by 296.5% in the second quarter. Strs Ohio now owns 78,900 shares of the oil and gas producer’s stock valued at $482,000 after buying an additional 59,000 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Earthstone Energy in the second quarter valued at about $111,000. Finally, Victory Capital Management Inc. grew its stake in shares of Earthstone Energy by 9.7% in the first quarter. Victory Capital Management Inc. now owns 219,415 shares of the oil and gas producer’s stock valued at $1,553,000 after buying an additional 19,482 shares in the last quarter. Institutional investors own 21.34% 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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