Shares of Earthstone Energy Inc (NYSE:ESTE) have been assigned a consensus recommendation of “Buy” from the ten research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $7.46.
A number of research analysts have issued reports on the company. ValuEngine raised Earthstone Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, January 10th. Royal Bank of Canada reissued a “buy” rating and issued a $8.00 target price on shares of Earthstone Energy in a research note on Thursday, January 30th. Zacks Investment Research raised Earthstone Energy from a “hold” rating to a “strong-buy” rating and set a $5.25 target price for the company in a research note on Monday. Wells Fargo & Co upped their price objective on Earthstone Energy from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 9th. Finally, Northland Securities reaffirmed a “buy” rating and set a $6.00 price objective on shares of Earthstone Energy in a research report on Thursday, November 7th.
NYSE:ESTE traded down $0.14 on Friday, reaching $4.39. The company’s stock had a trading volume of 2,690 shares, compared to its average volume of 241,895. Earthstone Energy has a 1-year low of $3.00 and a 1-year high of $7.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $294.42 million, a PE ratio of 3.25 and a beta of 2.23. The business’s 50-day moving average price is $5.45 and its two-hundred day moving average price is $4.53.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in Earthstone Energy by 11.0% in the third quarter. Rhumbline Advisers now owns 29,542 shares of the oil and gas producer’s stock valued at $96,000 after buying an additional 2,922 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its position in Earthstone Energy by 17.1% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,150 shares of the oil and gas producer’s stock worth $185,000 after buying an additional 4,260 shares in the last quarter. Northern Trust Corp grew its position in Earthstone Energy by 2.1% during the second quarter. Northern Trust Corp now owns 254,753 shares of the oil and gas producer’s stock worth $1,559,000 after buying an additional 5,258 shares in the last quarter. Barclays PLC grew its position in Earthstone Energy by 103.3% during the fourth quarter. Barclays PLC now owns 20,152 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 10,239 shares in the last quarter. Finally, UBS Group AG grew its position in Earthstone Energy by 54.9% during the fourth quarter. UBS Group AG now owns 32,847 shares of the oil and gas producer’s stock worth $208,000 after buying an additional 11,641 shares in the last quarter. Institutional investors and hedge funds own 21.60% of the company’s stock.
Earthstone Energy Company Profile
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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