Earthstone Energy, Inc. (NYSE:ESTE) Expected to Post Quarterly Sales of $64.17 Million

Analysts expect Earthstone Energy, Inc. (NYSE:ESTE) to announce sales of $64.17 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Earthstone Energy’s earnings, with the lowest sales estimate coming in at $57.30 million and the highest estimate coming in at $68.20 million. Earthstone Energy reported sales of $21.66 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 196.3%. The business is expected to report its next earnings report on Wednesday, August 4th.

On average, analysts expect that Earthstone Energy will report full year sales of $317.43 million for the current financial year, with estimates ranging from $298.00 million to $336.86 million. For the next year, analysts expect that the company will report sales of $359.84 million, with estimates ranging from $256.50 million to $432.01 million. Zacks’ sales averages are an average based on a survey of analysts that follow Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings data on Wednesday, May 5th. The oil and gas producer reported $0.17 EPS for the quarter, beating the consensus estimate of $0.02 by $0.15. The business had revenue of $75.57 million during the quarter, compared to the consensus estimate of $56.20 million. Earthstone Energy had a negative net margin of 20.63% and a positive return on equity of 4.24%.

Several analysts recently weighed in on the stock. Roth Capital boosted their price objective on shares of Earthstone Energy from $12.50 to $16.50 and gave the stock a “buy” rating in a research note on Thursday, July 8th. Zacks Investment Research raised shares of Earthstone Energy from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, May 11th. Alliance Global Partners boosted their target price on shares of Earthstone Energy from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, June 15th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $12.00 target price on shares of Earthstone Energy in a report on Tuesday, May 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Earthstone Energy has a consensus rating of “Buy” and an average price target of $12.00.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dorsey Wright & Associates bought a new stake in Earthstone Energy in the 1st quarter worth about $34,000. Meeder Asset Management Inc. bought a new position in shares of Earthstone Energy during the 1st quarter valued at approximately $44,000. Walleye Capital LLC bought a new position in shares of Earthstone Energy during the 4th quarter valued at approximately $64,000. BNP Paribas Arbitrage SA grew its position in shares of Earthstone Energy by 65.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,524 shares of the oil and gas producer’s stock valued at $90,000 after acquiring an additional 4,977 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Earthstone Energy during the 1st quarter valued at approximately $92,000. Institutional investors own 38.37% of the company’s stock.

Shares of NYSE ESTE traded down $0.23 during midday trading on Friday, reaching $10.16. 150,954 shares of the company were exchanged, compared to its average volume of 329,273. The company’s 50-day moving average price is $10.50. The stock has a market capitalization of $797.93 million, a PE ratio of -8.61 and a beta of 2.93. Earthstone Energy has a one year low of $2.41 and a one year high of $13.15. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Earthstone Energy Company Profile

Earthstone Energy, Inc, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States. The company's asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas.

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Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

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