Imperial Capital Analysts Give Earthstone Energy (ESTE) a $14.00 Price Target

Imperial Capital set a $14.00 price objective on Earthstone Energy (NYSE:ESTE) in a research report released on Thursday. The brokerage currently has a buy rating on the oil and gas producer’s stock. Imperial Capital also issued estimates for Earthstone Energy’s Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.29 EPS and FY2019 earnings at $1.45 EPS.

A number of other brokerages have also recently issued reports on ESTE. Zacks Investment Research raised Earthstone Energy from a hold rating to a buy rating and set a $13.00 price objective on the stock in a report on Monday, January 8th. ValuEngine cut Earthstone Energy from a buy rating to a hold rating in a report on Sunday, December 31st. Robert W. Baird set a $15.00 price objective on Earthstone Energy and gave the stock a buy rating in a report on Thursday, February 8th. SunTrust Banks reissued a buy rating and set a $14.00 price objective on shares of Earthstone Energy in a report on Tuesday, February 6th. Finally, KLR Group began coverage on Earthstone Energy in a report on Thursday, February 8th. They set a buy rating and a $17.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $14.22.

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Shares of ESTE opened at $9.35 on Thursday. The stock has a market cap of $594.27, a P/E ratio of 6.54 and a beta of 1.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.68 and a current ratio of 0.68. Earthstone Energy has a 52-week low of $7.85 and a 52-week high of $15.00.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.31. The business had revenue of $35.68 million for the quarter, compared to analysts’ expectations of $33.12 million. Earthstone Energy had a positive return on equity of 5.77% and a negative net margin of 11.58%. research analysts expect that Earthstone Energy will post 0.67 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Earthstone Energy by 14.9% in the 4th quarter. BlackRock Inc. now owns 1,065,961 shares of the oil and gas producer’s stock valued at $11,330,000 after acquiring an additional 138,451 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in shares of Earthstone Energy by 6.8% in the 4th quarter. Wasatch Advisors Inc. now owns 898,260 shares of the oil and gas producer’s stock valued at $9,549,000 after acquiring an additional 56,849 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Earthstone Energy by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 864,116 shares of the oil and gas producer’s stock valued at $9,185,000 after acquiring an additional 8,384 shares in the last quarter. Northpointe Capital LLC raised 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 acquiring an additional 220,063 shares in the last quarter. Finally, Sanders Morris Harris LLC raised its holdings in shares of Earthstone Energy by 336.1% in the 4th quarter. Sanders Morris Harris LLC now owns 660,993 shares of the oil and gas producer’s stock valued at $7,026,000 after acquiring an additional 509,430 shares in the last quarter. 18.04% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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