Earthstone Energy (NYSE:ESTE) Stock Price Down 4.8%

Earthstone Energy, Inc. (NYSE:ESTE) fell 4.8% during mid-day trading on Thursday . The company traded as low as $9.89 and last traded at $9.89. 1,025 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 322,235 shares. The stock had previously closed at $10.39.

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

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $777.55 million, a PE ratio of 19.17 and a beta of 2.93. The business has a fifty day moving average price of $10.50.

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 Zacks’ consensus estimate of $0.02 by $0.15. The firm 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%. On average, equities research analysts predict that Earthstone Energy, Inc. will post 0.71 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Dorsey Wright & Associates acquired a new stake in Earthstone Energy in the first quarter valued at about $34,000. Meeder Asset Management Inc. acquired a new stake in shares of Earthstone Energy during the 1st quarter valued at approximately $44,000. Walleye Capital LLC acquired a new stake in shares of Earthstone Energy during the 4th quarter valued at approximately $64,000. BNP Paribas Arbitrage SA lifted 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 acquired a new stake in shares of Earthstone Energy during the 1st quarter valued at approximately $92,000. Hedge funds and other institutional investors own 38.37% of the company’s stock.

About Earthstone Energy (NYSE:ESTE)

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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