Earthstone Energy Inc (NYSE:ESTE) – Equities researchers at SunTrust Banks dropped their Q4 2020 earnings per share estimates for Earthstone Energy in a research note issued on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas producer will post earnings per share of $0.26 for the quarter, down from their previous estimate of $0.30. SunTrust Banks currently has a “Buy” rating and a $7.00 price target on the stock. SunTrust Banks also issued estimates for Earthstone Energy’s Q1 2021 earnings at $0.24 EPS, Q2 2021 earnings at $0.26 EPS, Q3 2021 earnings at $0.29 EPS and FY2021 earnings at $1.10 EPS.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Co reaffirmed a “hold” rating on shares of Earthstone Energy in a research note on Tuesday, August 13th. ValuEngine raised shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $10.00 target price on shares of Earthstone Energy in a research note on Sunday, August 11th. Finally, Seaport Global Securities downgraded shares of Earthstone Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $8.41.
Shares of NYSE:ESTE opened at $3.31 on Friday. Earthstone Energy has a 52 week low of $3.00 and a 52 week high of $10.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $213.33 million, a PE ratio of 2.30 and a beta of 1.85. The company has a 50 day moving average price of $3.61 and a two-hundred day moving average price of $5.24.
Earthstone Energy (NYSE:ESTE) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.06. Earthstone Energy had a net margin of 16.18% and a return on equity of 5.47%. The firm had revenue of $44.54 million during the quarter, compared to the consensus estimate of $42.60 million.
Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in shares of Earthstone Energy by 168.4% in the second quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 2,567 shares during the period. Jefferies Group LLC acquired a new position in shares of Earthstone Energy in the second quarter valued at approximately $70,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Earthstone Energy in the second quarter valued at approximately $111,000. WINTON GROUP Ltd boosted its holdings 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 during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Earthstone Energy by 516.8% during the second quarter. JPMorgan Chase & Co. now owns 28,409 shares of the oil and gas producer’s stock worth $173,000 after purchasing an additional 23,803 shares during the last quarter. Institutional investors own 21.34% of the company’s stock.
In related news, President Robert John Anderson purchased 10,000 shares of Earthstone Energy stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of $3.20 per share, for a total transaction of $32,000.00. Following the completion of the acquisition, the president now directly owns 305,700 shares of the company’s stock, valued at $978,240. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 63.04% of the stock is owned by corporate insiders.
About Earthstone Energy
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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