Earthstone Energy (NYSE:ESTE) Hits New 52-Week High at $15.14

Earthstone Energy, Inc. (NYSE:ESTE) hit a new 52-week high during trading on Thursday . The stock traded as high as $15.14 and last traded at $14.62, with a volume of 1009151 shares. The stock had previously closed at $13.95.

A number of analysts have recently issued reports on the company. Alliance Global Partners lifted their price target on Earthstone Energy from $20.00 to $28.00 in a research report on Tuesday. Wells Fargo & Company lifted their price target on Earthstone Energy from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Friday, December 17th. Zacks Investment Research upgraded Earthstone Energy from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a research report on Tuesday, October 12th. Truist lifted their price target on Earthstone Energy from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. Finally, Benchmark assumed coverage on Earthstone Energy in a research report on Wednesday, November 3rd. They set a “buy” rating and a $15.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $18.64.

The company has a market capitalization of $1.26 billion, a PE ratio of -34.26 and a beta of 2.61. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $11.13 and a two-hundred day moving average of $10.21.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings results on Wednesday, November 3rd. The oil and gas producer reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.11. The business had revenue of $110.38 million for the quarter, compared to analysts’ expectations of $88.07 million. Earthstone Energy had a positive return on equity of 7.99% and a negative net margin of 4.08%. During the same period in the previous year, the firm earned $0.06 EPS. Equities analysts forecast that Earthstone Energy, Inc. will post 1.44 EPS for the current year.

A number of institutional investors have recently made changes to their positions in ESTE. Sei Investments Co. increased its stake in Earthstone Energy by 12.3% in the 2nd quarter. Sei Investments Co. now owns 123,748 shares of the oil and gas producer’s stock worth $1,370,000 after purchasing an additional 13,516 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Earthstone Energy by 47.1% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 27,258 shares of the oil and gas producer’s stock worth $302,000 after purchasing an additional 8,725 shares during the period. BlackRock Inc. increased its stake in Earthstone Energy by 2.6% in the 2nd quarter. BlackRock Inc. now owns 1,534,750 shares of the oil and gas producer’s stock worth $16,990,000 after purchasing an additional 38,987 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Earthstone Energy by 84.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,129 shares of the oil and gas producer’s stock valued at $566,000 after buying an additional 23,463 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Earthstone Energy by 35.5% during the second quarter. Bank of Montreal Can now owns 164,170 shares of the oil and gas producer’s stock valued at $1,864,000 after buying an additional 42,973 shares during the period. 35.15% of the stock is currently owned by institutional investors and hedge funds.

Earthstone Energy Company Profile (NYSE:ESTE)

Earthstone Energy, Inc is an independent oil and gas holding company. It engages in the acquisition, exploration, development, and production of oil and gas reserves. It also focuses on the Midland Basin and Eagle Ford Trend properties. The company was founded on July 7, 1969 and is headquartered in The Woodlands, TX.

Further Reading: Do equity income investments outperform growth and income investments?

Receive News & Ratings for Earthstone Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy and related companies with MarketBeat.com's FREE daily email newsletter.