Earthstone Energy Inc (NYSE:ESTE) – Stock analysts at SunTrust Banks increased their FY2019 earnings estimates for Earthstone Energy in a research note issued to investors on Thursday, July 5th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings of $1.54 per share for the year, up from their prior forecast of $1.48.
Get Earthstone Energy alerts:Other research analysts have also issued research reports about the company. Royal Bank of Canada assumed coverage on Earthstone Energy in a report on Monday. They set an “outperform” rating for the company. Zacks Investment Research raised Earthstone Energy from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, May 15th. Robert W. Baird set a $17.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a report on Thursday, March 15th. Imperial Capital set a $14.00 price objective on Earthstone Energy and gave the stock a “buy” rating in a report on Thursday, April 5th. Finally, ValuEngine lowered Earthstone Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $13.89.
Earthstone Energy opened at $10.50 on Monday, Marketbeat Ratings reports. Earthstone Energy has a twelve month low of $7.80 and a twelve month high of $12.16. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a market cap of $621.36 million, a price-to-earnings ratio of 7.15, a P/E/G ratio of 0.38 and a beta of 1.10.
Earthstone Energy (NYSE:ESTE) last posted its earnings results on Thursday, May 3rd. The oil and gas producer reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $40.90 million during the quarter, compared to analyst estimates of $38.36 million. Earthstone Energy had a positive return on equity of 5.70% and a negative net margin of 5.93%.
Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Earthstone Energy in the 4th quarter worth approximately $133,000. Two Sigma Investments LP bought a new stake in Earthstone Energy in the 4th quarter worth approximately $179,000. Goldman Sachs Group Inc. lifted its position in Earthstone Energy by 71.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 26,787 shares of the oil and gas producer’s stock worth $285,000 after buying an additional 11,141 shares during the last quarter. Prudential Financial Inc. bought a new stake in Earthstone Energy in the 1st quarter worth approximately $323,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in Earthstone Energy by 42.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 36,240 shares of the oil and gas producer’s stock worth $367,000 after buying an additional 10,848 shares during the last quarter. Institutional investors own 18.06% of the company’s stock.
Earthstone Energy Company Profile
Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry 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, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.
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