Zacks: Analysts Anticipate Earthstone Energy, Inc. (NYSE:ESTE) to Announce $0.02 EPS


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Equities research analysts expect that Earthstone Energy, Inc. (NYSE:ESTE) will report earnings per share of $0.02 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Earthstone Energy’s earnings. The highest EPS estimate is $0.03 and the lowest is $0.01. Earthstone Energy reported earnings of $0.13 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 84.6%. The business is scheduled to report its next quarterly earnings report on Wednesday, May 5th.

According to Zacks, analysts expect that Earthstone Energy will report full year earnings of $0.14 per share for the current year, with EPS estimates ranging from $0.10 to $0.19. For the next financial year, analysts forecast that the company will report earnings of $0.30 per share, with EPS estimates ranging from $0.14 to $0.45. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last released its quarterly earnings data on Thursday, March 11th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Earthstone Energy had a negative net margin of 4.41% and a positive return on equity of 5.07%.

Separately, Zacks Investment Research raised shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, March 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $5.55.

Shares of ESTE stock traded up $0.09 on Monday, hitting $7.00. The company’s stock had a trading volume of 215,959 shares, compared to its average volume of 383,238. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.11 and a quick ratio of 1.11. Earthstone Energy has a fifty-two week low of $1.44 and a fifty-two week high of $9.43. The firm’s fifty day moving average price is $7.73 and its 200-day moving average price is $5.34. The stock has a market capitalization of $546.63 million, a price-to-earnings ratio of -28.00 and a beta of 2.90.

In other Earthstone Energy news, EVP Tony Oviedo sold 25,000 shares of the company’s stock in a transaction dated Wednesday, April 7th. The shares were sold at an average price of $8.12, for a total transaction of $203,000.00. Following the sale, the executive vice president now directly owns 176,798 shares of the company’s stock, valued at $1,435,599.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 62.79% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in Earthstone Energy by 108.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,268,132 shares of the oil and gas producer’s stock valued at $12,088,000 after purchasing an additional 1,179,593 shares during the last quarter. BlackRock Inc. grew its stake in Earthstone Energy by 8.6% in the fourth quarter. BlackRock Inc. now owns 1,443,118 shares of the oil and gas producer’s stock valued at $7,692,000 after acquiring an additional 114,130 shares during the period. Wells Fargo & Company MN grew its stake in Earthstone Energy by 6.3% in the fourth quarter. Wells Fargo & Company MN now owns 973,537 shares of the oil and gas producer’s stock valued at $5,189,000 after acquiring an additional 57,745 shares during the period. Monarch Partners Asset Management LLC grew its stake in Earthstone Energy by 280.1% in the fourth quarter. Monarch Partners Asset Management LLC now owns 810,010 shares of the oil and gas producer’s stock valued at $4,317,000 after acquiring an additional 596,900 shares during the period. Finally, Royce & Associates LP grew its stake in Earthstone Energy by 3.8% in the fourth quarter. Royce & Associates LP now owns 471,273 shares of the oil and gas producer’s stock valued at $2,512,000 after acquiring an additional 17,300 shares during the period. 21.99% of the stock is currently owned by institutional investors and hedge funds.

About Earthstone Energy

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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