Earthstone Energy Inc (NYSE:ESTE) – Stock analysts at Imperial Capital reduced their FY2020 EPS estimates for Earthstone Energy in a research note issued to investors on Thursday, August 8th. Imperial Capital analyst J. Wangler now anticipates that the oil and gas producer will post earnings of $0.82 per share for the year, down from their prior estimate of $0.89.
Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Earthstone Energy had a net margin of 16.18% and a return on equity of 5.51%. The firm had revenue of $44.54 million during the quarter, compared to analysts’ expectations of $42.60 million.
Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Co cut shares of Earthstone Energy from an “outperform” rating to a “market perform” rating and set a $8.00 price target for the company. in a research report on Monday, July 8th. ValuEngine cut shares of Earthstone Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. Seaport Global Securities restated a “buy” rating on shares of Earthstone Energy in a research note on Friday, June 21st. Northland Securities restated a “buy” rating and issued a $11.00 price objective on shares of Earthstone Energy in a research note on Tuesday, May 7th. Finally, Stephens set a $9.00 price objective on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $9.89.
ESTE traded up $0.09 on Friday, reaching $4.17. The company had a trading volume of 3,204 shares, compared to its average volume of 235,343. Earthstone Energy has a 1 year low of $3.43 and a 1 year high of $10.19. The company has a market cap of $229.62 million, a PE ratio of 2.90 and a beta of 1.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s 50-day simple moving average is $5.29.
In other Earthstone Energy news, EVP Tony Oviedo sold 12,000 shares of Earthstone Energy stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $6.38, for a total value of $76,560.00. Following the transaction, the executive vice president now directly owns 112,530 shares in the company, valued at $717,941.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 63.04% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in shares of Earthstone Energy by 312.3% during the first quarter. BNP Paribas Arbitrage SA now owns 4,045 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 3,064 shares during the period. Globeflex Capital L P increased its stake in shares of Earthstone Energy by 22.8% during the first quarter. Globeflex Capital L P now owns 42,769 shares of the oil and gas producer’s stock worth $303,000 after acquiring an additional 7,951 shares during the period. Squarepoint Ops LLC increased its stake in shares of Earthstone Energy by 83.0% during the fourth quarter. Squarepoint Ops LLC now owns 22,142 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 10,042 shares during the period. Investment Counselors of Maryland LLC increased its stake in shares of Earthstone Energy by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 1,218,858 shares of the oil and gas producer’s stock worth $7,459,000 after acquiring an additional 13,084 shares during the period. Finally, Heritage Investors Management Corp acquired a new position in shares of Earthstone Energy during the first quarter worth about $102,000. Institutional investors and hedge funds own 21.44% of the company’s stock.
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.
Further Reading: How to read a candlestick chart
Receive News & Ratings for Earthstone Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy and related companies with MarketBeat.com's FREE daily email newsletter.