Q1 2019 EPS Estimates for Earthstone Energy Inc Increased by Analyst (ESTE)

Earthstone Energy Inc (NYSE:ESTE) – Research analysts at Imperial Capital boosted their Q1 2019 earnings per share (EPS) estimates for shares of Earthstone Energy in a research report issued on Thursday, March 14th. Imperial Capital analyst J. Wangler now forecasts that the oil and gas producer will earn $0.13 per share for the quarter, up from their prior forecast of $0.12. Imperial Capital currently has a “Outperform” rating and a $9.00 price objective on the stock. Imperial Capital also issued estimates for Earthstone Energy’s Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.19 EPS, FY2019 earnings at $0.65 EPS and FY2020 earnings at $0.80 EPS.

A number of other equities research analysts also recently weighed in on ESTE. Stephens initiated coverage on shares of Earthstone Energy in a research note on Thursday, December 6th. They issued an “overweight” rating and a $11.00 target price on the stock. Roth Capital set a $16.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Thursday, December 27th. Zacks Investment Research raised shares of Earthstone Energy from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, January 8th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $11.00 target price on shares of Earthstone Energy in a research note on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $11.50.

Shares of ESTE opened at $6.65 on Friday. The company has a market capitalization of $443.94 million, a P/E ratio of 4.65, a P/E/G ratio of 0.30 and a beta of 1.89. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.05. Earthstone Energy has a 1-year low of $4.21 and a 1-year high of $11.00.

A number of hedge funds and other institutional investors have recently modified their holdings of ESTE. Northern Trust Corp grew its position in Earthstone Energy by 9.3% during the second quarter. Northern Trust Corp now owns 248,541 shares of the oil and gas producer’s stock valued at $2,199,000 after acquiring an additional 21,186 shares during the last quarter. Strs Ohio bought a new position in Earthstone Energy during the third quarter valued at approximately $186,000. Victory Capital Management Inc. grew its position in Earthstone Energy by 17.7% during the third quarter. Victory Capital Management Inc. now owns 198,549 shares of the oil and gas producer’s stock valued at $1,862,000 after acquiring an additional 29,801 shares during the last quarter. American Century Companies Inc. grew its position in Earthstone Energy by 2,296.6% during the third quarter. American Century Companies Inc. now owns 793,355 shares of the oil and gas producer’s stock valued at $7,442,000 after acquiring an additional 760,252 shares during the last quarter. Finally, Globeflex Capital L P grew its position in Earthstone Energy by 156.8% during the third quarter. Globeflex Capital L P now owns 34,818 shares of the oil and gas producer’s stock valued at $327,000 after acquiring an additional 21,258 shares during the last quarter. Institutional investors and hedge funds own 20.00% of the company’s stock.

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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