Earthstone Energy (ESTE) Hits New 52-Week Low at $6.58

Earthstone Energy Inc (NYSE:ESTE) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $6.58 and last traded at $6.65, with a volume of 7598 shares. The stock had previously closed at $6.94.

Several research analysts have commented on the company. ValuEngine raised Earthstone Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. SunTrust Banks set a $14.00 target price on Earthstone Energy and gave the stock a “buy” rating in a research note on Monday, October 22nd. Imperial Capital boosted their target price on Earthstone Energy from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 9th. Finally, Stephens assumed coverage on Earthstone Energy in a research note on Thursday. They set an “overweight” rating and a $11.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $13.43.

The firm has a market capitalization of $431.14 million, a price-to-earnings ratio of 4.75, a PEG ratio of 0.32 and a beta of 1.35. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.05.

Earthstone Energy (NYSE:ESTE) last released its quarterly earnings results on Wednesday, November 7th. The oil and gas producer reported $0.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The company had revenue of $46.08 million for the quarter, compared to analysts’ expectations of $42.96 million. Earthstone Energy had a return on equity of 2.75% and a net margin of 5.33%. On average, equities analysts forecast that Earthstone Energy Inc will post 0.71 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Earthstone Energy during the third quarter worth about $1,446,000. TIAA CREF Investment Management LLC grew its holdings in shares of Earthstone Energy by 15.2% during the third quarter. TIAA CREF Investment Management LLC now owns 87,381 shares of the oil and gas producer’s stock worth $820,000 after purchasing an additional 11,557 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Earthstone Energy during the third quarter worth about $137,000. Laurion Capital Management LP bought a new stake in shares of Earthstone Energy during the third quarter worth about $204,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Earthstone Energy during the third quarter worth about $123,000. Institutional investors own 20.88% of the company’s stock.

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About Earthstone Energy (NYSE:ESTE)

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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