Earthstone Energy Inc (NYSE:ESTE) – Analysts at SunTrust Banks upped their Q3 2020 EPS estimates for shares of Earthstone Energy in a research note issued to investors on Thursday, June 25th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings per share of $0.11 for the quarter, up from their prior forecast of $0.09. SunTrust Banks has a “Positive” rating on the stock. SunTrust Banks also issued estimates for Earthstone Energy’s Q4 2020 earnings at $0.09 EPS, FY2020 earnings at $0.44 EPS, Q1 2021 earnings at ($0.01) EPS, Q2 2021 earnings at $0.02 EPS, Q3 2021 earnings at $0.04 EPS, Q4 2021 earnings at $0.06 EPS and FY2021 earnings at $0.12 EPS.
Earthstone Energy (NYSE:ESTE) last issued its earnings results on Wednesday, May 6th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $45.14 million during the quarter, compared to analysts’ expectations of $50.90 million. Earthstone Energy had a return on equity of 6.30% and a net margin of 17.70%.
ESTE has been the subject of several other reports. Wells Fargo & Co boosted their price objective on shares of Earthstone Energy from $3.00 to $3.50 and gave the company an “equal weight” rating in a report on Thursday, June 25th. TheStreet raised shares of Earthstone Energy from a “d” rating to a “c-” rating in a report on Friday, May 15th. Zacks Investment Research cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Tuesday, April 7th. Roth Capital raised shares of Earthstone Energy from a “neutral” rating to a “buy” rating in a report on Thursday, April 2nd. Finally, Imperial Capital decreased their price objective on shares of Earthstone Energy from $7.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, March 13th. One 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 company. The company presently has a consensus rating of “Buy” and a consensus price target of $4.71.
ESTE opened at $2.84 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $2.83 and a 200-day moving average price of $3.63. Earthstone Energy has a twelve month low of $1.44 and a twelve month high of $7.23. The stock has a market capitalization of $182.54 million, a price-to-earnings ratio of 2.39 and a beta of 2.55.
In other Earthstone Energy news, CFO Mark Lumpkin, Jr. bought 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $2.26 per share, for a total transaction of $33,900.00. Insiders own 62.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Keebeck Alpha LP bought a new position in shares of Earthstone Energy in the first quarter worth approximately $35,000. Barclays PLC boosted its position in shares of Earthstone Energy by 103.3% in the fourth quarter. Barclays PLC now owns 20,152 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 10,239 shares during the period. Heritage Investors Management Corp boosted its position in shares of Earthstone Energy by 76.0% in the first quarter. Heritage Investors Management Corp now owns 25,295 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 10,925 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Earthstone Energy by 17.1% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,150 shares of the oil and gas producer’s stock worth $185,000 after purchasing an additional 4,260 shares during the period. Finally, UBS Group AG boosted its position in shares of Earthstone Energy by 54.9% in the fourth quarter. UBS Group AG now owns 32,847 shares of the oil and gas producer’s stock worth $208,000 after purchasing an additional 11,641 shares during the period. Institutional investors own 24.27% 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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