$0.20 EPS Expected for Earthstone Energy Inc (NYSE:ESTE) This Quarter

Wall Street brokerages expect Earthstone Energy Inc (NYSE:ESTE) to report earnings of $0.20 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Earthstone Energy’s earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.26. Earthstone Energy posted earnings of $0.02 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 900%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Earthstone Energy will report full-year earnings of $0.94 per share for the current financial year, with EPS estimates ranging from $0.82 to $1.13. For the next financial year, analysts forecast that the company will report earnings of $1.06 per share, with EPS estimates ranging from $0.86 to $1.39. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last posted its earnings results on Monday, May 6th. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.58. The company had revenue of $40.73 million during the quarter, compared to analyst estimates of $40.82 million. Earthstone Energy had a return on equity of 3.75% and a net margin of 11.99%.

Several research firms have recently issued reports on ESTE. Wells Fargo & Co began coverage on Forestar Group in a research report on Monday. They set an “outperform” rating and a $23.00 target price for the company. Stephens set a $37.00 target price on Talos Energy and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Seaport Global Securities restated a “buy” rating on shares of W&T Offshore in a research report on Friday, June 21st. Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a research report on Monday, June 17th. Finally, ValuEngine lowered Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.89.

In other Earthstone Energy news, EVP Tony Oviedo sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $6.38, for a total value of $76,560.00. Following the sale, the executive vice president now owns 112,530 shares in the company, valued at approximately $717,941.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 63.04% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESTE. Campbell & CO Investment Adviser LLC bought a new position in Earthstone Energy during the 2nd quarter valued at approximately $111,000. WINTON GROUP Ltd raised its position in shares of Earthstone Energy by 132.3% in the 2nd quarter. WINTON GROUP Ltd now owns 25,239 shares of the oil and gas producer’s stock worth $154,000 after acquiring an additional 14,374 shares in the last quarter. Globeflex Capital L P raised its position in shares of Earthstone Energy by 22.8% in the 1st quarter. Globeflex Capital L P now owns 42,769 shares of the oil and gas producer’s stock worth $303,000 after acquiring an additional 7,951 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Earthstone Energy by 9.7% in the 1st quarter. Victory Capital Management Inc. now owns 219,415 shares of the oil and gas producer’s stock worth $1,553,000 after acquiring an additional 19,482 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Earthstone Energy by 312.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,045 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 3,064 shares in the last quarter. Hedge funds and other institutional investors own 21.38% of the company’s stock.

Shares of Earthstone Energy stock traded down $0.01 during trading on Thursday, hitting $6.50. 1,223 shares of the company were exchanged, compared to its average volume of 143,750. The company has a market capitalization of $417.74 million, a price-to-earnings ratio of 4.48 and a beta of 1.83. Earthstone Energy has a 1-year low of $4.21 and a 1-year high of $11.00. The stock has a fifty day moving average price of $5.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.63 and a quick ratio of 0.63.

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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Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

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