Earthstone Energy, Inc. (ESTE) Forecasted to Post Q3 2018 Earnings of $0.25 Per Share

Earthstone Energy, Inc. (NYSE:ESTE) – Stock analysts at Imperial Capital raised their Q3 2018 earnings per share estimates for Earthstone Energy in a report released on Thursday, April 5th. Imperial Capital analyst J. Wangler now forecasts that the oil and gas producer will earn $0.25 per share for the quarter, up from their previous estimate of $0.23. Imperial Capital currently has a “Buy” rating and a $14.00 target price on the stock. Imperial Capital also issued estimates for Earthstone Energy’s Q4 2018 earnings at $0.29 EPS and FY2019 earnings at $1.45 EPS.

Earthstone Energy (NYSE:ESTE) last issued its quarterly earnings data on Wednesday, March 14th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.31. Earthstone Energy had a negative net margin of 11.58% and a positive return on equity of 5.77%. The firm had revenue of $35.68 million for the quarter, compared to analysts’ expectations of $33.12 million.

Several other brokerages have also recently weighed in on ESTE. KLR Group started coverage on shares of Earthstone Energy in a research note on Thursday, February 8th. They issued a “buy” rating and a $17.00 price objective on the stock. Robert W. Baird set a $17.00 price objective on shares of Earthstone Energy and gave the stock a “buy” rating in a research note on Thursday, March 15th. SunTrust Banks reiterated a “buy” rating and issued a $14.00 price objective on shares of Earthstone Energy in a research note on Tuesday, February 6th. Zacks Investment Research cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, ValuEngine lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Earthstone Energy currently has a consensus rating of “Buy” and an average target price of $14.22.

Shares of NYSE:ESTE opened at $9.35 on Friday. Earthstone Energy has a twelve month low of $7.85 and a twelve month high of $15.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $615.24, a PE ratio of 6.54 and a beta of 1.08.

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Earthstone Energy in the 4th quarter worth approximately $133,000. Rhumbline Advisers purchased a new stake in Earthstone Energy in the 3rd quarter worth approximately $135,000. American International Group Inc. increased its holdings in Earthstone Energy by 109.0% in the 3rd quarter. American International Group Inc. now owns 12,796 shares of the oil and gas producer’s stock worth $141,000 after acquiring an additional 6,673 shares in the last quarter. California State Teachers Retirement System increased its holdings in Earthstone Energy by 295.2% in the 2nd quarter. California State Teachers Retirement System now owns 17,537 shares of the oil and gas producer’s stock worth $176,000 after acquiring an additional 13,100 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Earthstone Energy in the 4th quarter worth approximately $179,000. 18.04% of the stock is owned by institutional investors.

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About Earthstone Energy

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.

Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

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