Earthstone Energy Inc (NYSE:ESTE) – Equities research analysts at SunTrust Banks boosted their Q3 2019 earnings estimates for Earthstone Energy in a research report issued on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings per share of $0.16 for the quarter, up from their previous estimate of $0.15. SunTrust Banks has a “Buy” rating and a $7.00 price target on the stock. SunTrust Banks also issued estimates for Earthstone Energy’s Q4 2019 earnings at $0.26 EPS, FY2019 earnings at $0.90 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.24 EPS and FY2020 earnings at $0.99 EPS.
Several other research firms have also issued reports on ESTE. Seaport Global Securities lowered shares of Earthstone Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Zacks Investment Research lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada restated a “buy” rating and set a $10.00 price target on shares of Earthstone Energy in a research report on Sunday, August 11th. Wells Fargo & Co restated a “hold” rating on shares of Earthstone Energy in a research report on Tuesday, August 13th. Finally, ValuEngine upgraded shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Earthstone Energy currently has an average rating of “Buy” and a consensus target price of $8.41.
Earthstone Energy (NYSE:ESTE) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Earthstone Energy had a net margin of 16.18% and a return on equity of 5.47%. The company had revenue of $44.54 million during the quarter, compared to analyst estimates of $42.60 million.
Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of Earthstone Energy by 168.4% during the second quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 2,567 shares during the period. Jefferies Group LLC purchased a new stake in shares of Earthstone Energy during the second quarter worth about $70,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Earthstone Energy during the second quarter worth about $111,000. WINTON GROUP Ltd boosted its holdings in shares of Earthstone Energy by 132.3% during the second quarter. WINTON GROUP Ltd now owns 25,239 shares of the oil and gas producer’s stock worth $154,000 after purchasing an additional 14,374 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Earthstone Energy by 516.8% during the second quarter. JPMorgan Chase & Co. now owns 28,409 shares of the oil and gas producer’s stock worth $173,000 after purchasing an additional 23,803 shares during the period. Institutional investors own 21.34% of the company’s stock.
In other Earthstone Energy news, President Robert John Anderson purchased 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, the president now directly owns 305,700 shares in the company, valued at approximately $978,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 63.04% of the company’s stock.
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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