Earthstone Energy, Inc. (NYSE:ESTE) has received a consensus recommendation of “Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.38.
A number of research firms recently issued reports on ESTE. Imperial Capital set a $14.00 target price on Earthstone Energy and gave the company a “buy” rating in a report on Thursday. Robert W. Baird set a $17.00 target price on Earthstone Energy and gave the company a “buy” rating in a report on Thursday, March 15th. SunTrust Banks reiterated a “buy” rating and issued a $14.00 target price on shares of Earthstone Energy in a report on Tuesday, February 6th. Zacks Investment Research upgraded Earthstone Energy from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, January 23rd. Finally, ValuEngine lowered Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.
A number of hedge funds and other institutional investors have recently made changes to their positions in ESTE. Sanders Morris Harris LLC lifted its holdings in Earthstone Energy by 336.1% during the 4th quarter. Sanders Morris Harris LLC now owns 660,993 shares of the oil and gas producer’s stock worth $7,026,000 after buying an additional 509,430 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Earthstone Energy in the 4th quarter valued at about $3,666,000. Northpointe Capital LLC lifted its holdings in shares of Earthstone Energy by 42.3% in the 4th quarter. Northpointe Capital LLC now owns 739,807 shares of the oil and gas producer’s stock valued at $7,864,000 after purchasing an additional 220,063 shares during the last quarter. Gardner Lewis Asset Management L P purchased a new stake in shares of Earthstone Energy in the 4th quarter valued at about $1,887,000. Finally, JBF Capital Inc. purchased a new stake in shares of Earthstone Energy in the 4th quarter valued at about $1,601,000. 18.04% of the stock is owned by institutional investors.
Earthstone Energy (NYSE:ESTE) last released its earnings results on Wednesday, March 14th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.31. The firm had revenue of $35.68 million during the quarter, compared to analyst estimates of $33.12 million. Earthstone Energy had a positive return on equity of 5.77% and a negative net margin of 11.58%. equities analysts forecast that Earthstone Energy will post 0.67 EPS for the current year.
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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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