Earthstone Energy’s (ESTE) “Buy” Rating Reaffirmed at Northland Securities

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Earthstone Energy (NYSE:ESTE)‘s stock had its “buy” rating reiterated by research analysts at Northland Securities in a research note issued on Thursday, AnalystRatings.com reports. They presently have a $6.00 target price on the oil and gas producer’s stock. Northland Securities’ target price indicates a potential upside of 6.19% from the stock’s current price.

ESTE has been the subject of several other reports. SunTrust Banks decreased their target price on Earthstone Energy from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Seaport Global Securities lowered Earthstone Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Zacks Investment Research lowered Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Wells Fargo & Co reiterated a “hold” rating on shares of Earthstone Energy in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $10.00 price objective on shares of Earthstone Energy in a research report on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $8.03.

Shares of Earthstone Energy stock traded up $0.20 during trading on Thursday, hitting $5.65. 227,918 shares of the company were exchanged, compared to its average volume of 170,264. The firm has a market capitalization of $309.99 million, a P/E ratio of 3.92 and a beta of 1.92. Earthstone Energy has a 1-year low of $3.00 and a 1-year high of $8.12. The firm’s fifty day moving average price is $3.81 and its 200 day moving average price is $4.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.55 and a quick ratio of 0.55.

Earthstone Energy (NYSE:ESTE) last posted its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.05. The company had revenue of $39.20 million during the quarter, compared to analyst estimates of $39.38 million. Earthstone Energy had a return on equity of 5.47% and a net margin of 16.18%. As a group, equities research analysts anticipate that Earthstone Energy will post 0.95 earnings per share for the current year.

In other Earthstone Energy news, President Robert John Anderson acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of $3.20 per share, for a total transaction of $32,000.00. Following the transaction, the president now owns 305,700 shares of the company’s stock, valued at $978,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 63.04% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Investment Counselors of Maryland LLC raised its stake in shares of Earthstone Energy by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,218,858 shares of the oil and gas producer’s stock worth $7,459,000 after purchasing an additional 13,084 shares in the last quarter. BlackRock Inc. raised its stake in shares of Earthstone Energy by 18.4% in the second quarter. BlackRock Inc. now owns 1,180,331 shares of the oil and gas producer’s stock valued at $7,224,000 after buying an additional 183,419 shares during the period. Vanguard Group Inc. raised its stake in shares of Earthstone Energy by 2.5% in the second quarter. Vanguard Group Inc. now owns 888,271 shares of the oil and gas producer’s stock valued at $5,436,000 after buying an additional 21,251 shares during the period. JBF Capital Inc. raised its stake in shares of Earthstone Energy by 0.3% in the second quarter. JBF Capital Inc. now owns 860,765 shares of the oil and gas producer’s stock valued at $5,268,000 after buying an additional 2,728 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Earthstone Energy by 2.1% in the second quarter. Northern Trust Corp now owns 254,753 shares of the oil and gas producer’s stock valued at $1,559,000 after buying an additional 5,258 shares during the period. Hedge funds and other institutional investors own 21.32% of the company’s stock.

About Earthstone Energy

Earthstone Energy, Inc, an independent energy company, engages in the development and operation of oil and gas properties 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, 2018, the company operated 93 gross Eagle Ford wells; and 13 gross Austin Chalk wells, as well as had 98,847 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 23,646 MBOE of proved developed reserves and 75,201 MBOE of proved undeveloped reserves.

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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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