SunTrust Banks Brokers Raise Earnings Estimates for Earthstone Energy Inc (ESTE)

Earthstone Energy Inc (NYSE:ESTE) – Equities research analysts at SunTrust Banks lifted their FY2020 EPS estimates for shares of Earthstone Energy in a research note issued on Tuesday, November 27th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will earn $1.56 per share for the year, up from their previous forecast of $1.16. SunTrust Banks has a “Buy” rating and a $14.00 price target on the stock.

Several other equities analysts have also issued reports on the stock. ValuEngine raised shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 9th. Imperial Capital lifted their price target on shares of Earthstone Energy from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, October 9th. Finally, Northland Securities set a $14.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $13.43.

Shares of ESTE stock opened at $6.87 on Friday. The company has a market cap of $439.47 million, a P/E ratio of 4.80, a price-to-earnings-growth ratio of 0.32 and a beta of 1.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.37. Earthstone Energy has a 52-week low of $6.62 and a 52-week high of $12.16.

Earthstone Energy (NYSE:ESTE) last issued its quarterly earnings data on Wednesday, November 7th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The company had revenue of $46.08 million for the quarter, compared to analyst estimates of $42.96 million. Earthstone Energy had a net margin of 5.33% and a return on equity of 2.75%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new position in Earthstone Energy in the second quarter worth $650,000. Dimensional Fund Advisors LP grew its holdings in Earthstone Energy by 71.4% in the second quarter. Dimensional Fund Advisors LP now owns 610,033 shares of the oil and gas producer’s stock worth $5,398,000 after purchasing an additional 254,152 shares during the last quarter. Globeflex Capital L P grew its holdings in Earthstone Energy by 156.8% in the third quarter. Globeflex Capital L P now owns 34,818 shares of the oil and gas producer’s stock worth $327,000 after purchasing an additional 21,258 shares during the last quarter. Gradient Investments LLC grew its holdings in Earthstone Energy by 46.1% in the third quarter. Gradient Investments LLC now owns 156,512 shares of the oil and gas producer’s stock worth $1,468,000 after purchasing an additional 49,366 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Earthstone Energy by 364.9% in the second quarter. Renaissance Technologies LLC now owns 347,400 shares of the oil and gas producer’s stock worth $3,074,000 after purchasing an additional 272,680 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors and hedge funds.

About Earthstone Energy

Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry 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, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.

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

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