Earthstone Energy (NYSE:ESTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, January 9th.
According to Zacks, “Earthstone Energy, Inc., formerly known as Basic Earth Science Systems, Inc., is an independent oil and gas exploration and production company. Its primary focus is in the Montana and North Dakota portions of the Williston basin. The Company is based in Denver, Colorado. “
A number of other brokerages have also recently commented on ESTE. Northland Securities restated a “buy” rating and set a $18.00 target price on shares of Earthstone Energy in a report on Tuesday, September 26th. BidaskClub upgraded Earthstone Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. ValuEngine cut Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Roth Capital set a $16.00 price objective on Earthstone Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Earthstone Energy in a research note on Sunday, September 17th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $14.55.
Shares of Earthstone Energy (NYSE:ESTE) traded down $0.21 during trading on Tuesday, reaching $11.39. The company had a trading volume of 95,000 shares, compared to its average volume of 177,791. Earthstone Energy has a 12 month low of $7.85 and a 12 month high of $15.50. The stock has a market cap of $737.27, a PE ratio of -5.35 and a beta of 1.38. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.11.
Earthstone Energy (NYSE:ESTE) last announced its earnings results on Thursday, November 2nd. The oil and gas producer reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Earthstone Energy had a positive return on equity of 4.01% and a negative net margin of 54.69%. equities research analysts anticipate that Earthstone Energy will post -0.55 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC acquired a new stake in shares of Earthstone Energy during the 2nd quarter worth about $105,000. New York State Common Retirement Fund raised its position in shares of Earthstone Energy by 849.2% during the 2nd quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock worth $114,000 after acquiring an additional 10,199 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Earthstone Energy during the 2nd quarter worth about $120,000. Brandywine Global Investment Management LLC acquired a new stake in shares of Earthstone Energy during the 2nd quarter worth about $122,000. Finally, Rhumbline Advisers acquired a new position in Earthstone Energy during the third quarter worth approximately $135,000. 13.41% of the stock is currently owned by institutional investors and hedge funds.
Earthstone Energy Company Profile
Earthstone Energy, Inc is an independent oil and natural gas development and production company. The Company is also engaged in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. Its operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States.
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