Earthstone Energy’s (ESTE) “Outperform” Rating Reaffirmed at Imperial Capital

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Earthstone Energy (NYSE:ESTE)‘s stock had its “outperform” rating reissued by investment analysts at Imperial Capital in a research note issued to investors on Friday. They presently have a $7.00 price objective on the oil and gas producer’s stock, down from their prior price objective of $8.00. Imperial Capital’s target price would indicate a potential upside of 5.58% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Earthstone Energy from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, January 8th. Roth Capital set a $16.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Thursday, December 27th. SunTrust Banks set a $14.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Monday, October 22nd. Stephens initiated coverage on shares of Earthstone Energy in a research note on Thursday, December 6th. They set an “overweight” rating and a $11.00 target price on the stock. Finally, ValuEngine upgraded shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Earthstone Energy has an average rating of “Buy” and an average price target of $12.81.

ESTE opened at $6.63 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.05. The stock has a market cap of $367.08 million, a price-to-earnings ratio of 4.64, a P/E/G ratio of 0.17 and a beta of 1.69. Earthstone Energy has a 52-week low of $4.21 and a 52-week high of $11.64.

Earthstone Energy (NYSE:ESTE) last posted its earnings results on Wednesday, November 7th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The business had revenue of $46.08 million for the quarter, compared to analysts’ expectations of $42.96 million. Earthstone Energy had a net margin of 5.33% and a return on equity of 2.75%. As a group, analysts expect that Earthstone Energy will post 0.7 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in Earthstone Energy by 141.4% in the 4th quarter. Meeder Asset Management Inc. now owns 8,439 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 4,943 shares in the last quarter. Vanguard Group Inc increased its holdings in Earthstone Energy by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 872,105 shares of the oil and gas producer’s stock worth $8,180,000 after acquiring an additional 5,970 shares in the last quarter. Marshall Wace LLP purchased a new stake in Earthstone Energy in the 3rd quarter worth approximately $1,446,000. TIAA CREF Investment Management LLC increased its holdings in Earthstone Energy by 15.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 87,381 shares of the oil and gas producer’s stock worth $820,000 after acquiring an additional 11,557 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Earthstone Energy in the 3rd quarter worth approximately $137,000. 20.88% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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