Shares of Earthstone Energy Inc (NYSE:ESTE) have earned a consensus rating of “Buy” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $11.40.
Several research analysts recently issued reports on ESTE shares. Zacks Investment Research lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. TheStreet raised shares of Earthstone Energy from a “d+” rating to a “c” rating in a research note on Friday, April 5th. Imperial Capital reaffirmed an “outperform” rating and set a $7.00 price objective (down from $8.00) on shares of Earthstone Energy in a research note on Friday, January 18th. Roth Capital set a $16.00 price objective on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Thursday, December 27th. Finally, Northland Securities reaffirmed a “buy” rating and set a $11.00 price objective on shares of Earthstone Energy in a research note on Wednesday, February 27th.
NYSE ESTE traded down $0.18 on Monday, hitting $7.30. 4,758 shares of the company’s stock were exchanged, compared to its average volume of 97,029. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. Earthstone Energy has a 52 week low of $4.21 and a 52 week high of $11.00. The stock has a market capitalization of $475.50 million, a PE ratio of 5.06, a PEG ratio of 0.37 and a beta of 1.90.
A number of hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its stake in Earthstone Energy by 141.4% during the fourth quarter. Meeder Asset Management Inc. now owns 8,439 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 4,943 shares in the last quarter. Vanguard Group Inc raised its position in shares of Earthstone Energy by 0.7% in the third quarter. Vanguard Group Inc now owns 872,105 shares of the oil and gas producer’s stock valued at $8,180,000 after buying an additional 5,970 shares during the last quarter. Rhumbline Advisers raised its position in shares of Earthstone Energy by 44.7% in the fourth quarter. Rhumbline Advisers now owns 26,650 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 8,232 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Earthstone Energy by 83.0% in the fourth quarter. Squarepoint Ops LLC now owns 22,142 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 10,042 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Earthstone Energy by 15.2% in the third quarter. TIAA CREF Investment Management LLC now owns 87,381 shares of the oil and gas producer’s stock valued at $820,000 after buying an additional 11,557 shares during the last quarter. 19.97% of the stock is owned by institutional investors.
Earthstone Energy Company Profile
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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