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

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Imperial Capital restated their outperform rating on shares of Earthstone Energy (NYSE:ESTE) in a research report released on Wednesday, Marketbeat reports. Imperial Capital currently has a $9.00 price target on the oil and gas producer’s stock, up from their prior price target of $7.00.

Several other research analysts also recently commented on ESTE. Zacks Investment Research downgraded Earthstone Energy from a hold rating to a strong sell rating in a report on Tuesday. Roth Capital set a $16.00 price target on Earthstone Energy and gave the company a buy rating in a report on Thursday, December 27th. ValuEngine downgraded Earthstone Energy from a sell rating to a strong sell rating in a report on Thursday, November 1st. Finally, Stephens began coverage on Earthstone Energy in a report on Thursday, December 6th. They issued an overweight rating and a $11.00 price target on the stock. Two research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $11.50.

ESTE opened at $6.60 on Wednesday. The firm has a market cap of $458.05 million, a price-to-earnings ratio of 4.62, a PEG ratio of 0.32 and a beta of 1.97. Earthstone Energy has a 52 week low of $4.21 and a 52 week high of $11.00. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.05.

Several large investors have recently made changes to their positions in ESTE. Meeder Asset Management Inc. boosted its position in shares of 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 purchasing an additional 4,943 shares in the last quarter. Vanguard Group Inc boosted its position in shares of 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 purchasing an additional 5,970 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Earthstone Energy by 44.7% in the 4th quarter. Rhumbline Advisers now owns 26,650 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 8,232 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Earthstone Energy by 83.0% in the 4th quarter. Squarepoint Ops LLC now owns 22,142 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 10,042 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of 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 purchasing an additional 11,557 shares in the last quarter. Institutional investors and hedge funds own 21.61% of the company’s stock.

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.

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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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