Earthstone Energy (NYSE:ESTE) Shares Up 6.5%

Shares of Earthstone Energy, Inc. (NYSE:ESTEGet Rating) were up 6.5% on Monday . The company traded as high as $15.71 and last traded at $15.70. Approximately 9,982 shares changed hands during trading, a decline of 99% from the average daily volume of 930,333 shares. The stock had previously closed at $14.74.

ESTE has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Earthstone Energy from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, April 19th. Wells Fargo & Company upped their price target on shares of Earthstone Energy from $13.00 to $17.00 and gave the stock an “underweight” rating in a report on Monday, March 14th. Roth Capital restated a “buy” rating on shares of Earthstone Energy in a research report on Tuesday, February 8th. Truist Financial boosted their price objective on Earthstone Energy from $25.00 to $30.00 in a report on Thursday, April 21st. Finally, Alliance Global Partners increased their price target on shares of Earthstone Energy from $28.00 to $33.00 in a report on Friday, February 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $20.36.

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50 day moving average price is $13.89 and its 200-day moving average price is $12.68. The company has a market cap of $1.78 billion, a PE ratio of 86.95 and a beta of 2.16.

Earthstone Energy (NYSE:ESTEGet Rating) last released its earnings results on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.22. Earthstone Energy had a return on equity of 16.38% and a net margin of 1.45%. The company had revenue of $196.10 million during the quarter, compared to analyst estimates of $166.65 million. During the same quarter in the previous year, the company posted $0.17 EPS. Earthstone Energy’s revenue for the quarter was up 159.4% on a year-over-year basis. On average, analysts anticipate that Earthstone Energy, Inc. will post 3.39 EPS for the current year.

In other news, Chairman Frank Alan Lodzinski sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $12.24, for a total value of $612,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Lumpkin, Jr. sold 30,000 shares of the stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $16.47, for a total value of $494,100.00. Following the sale, the chief financial officer now owns 208,253 shares in the company, valued at $3,429,926.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,500 shares of company stock valued at $2,031,175. 52.45% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its stake in shares of Earthstone Energy by 44.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 739 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Earthstone Energy by 7.5% in the fourth quarter. California State Teachers Retirement System now owns 13,838 shares of the oil and gas producer’s stock worth $151,000 after buying an additional 964 shares during the period. Rhumbline Advisers lifted its position in shares of Earthstone Energy by 4.4% during the 4th quarter. Rhumbline Advisers now owns 31,497 shares of the oil and gas producer’s stock valued at $345,000 after buying an additional 1,329 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Earthstone Energy by 17.6% during the 1st quarter. Captrust Financial Advisors now owns 9,184 shares of the oil and gas producer’s stock valued at $116,000 after acquiring an additional 1,375 shares during the period. Finally, Citigroup Inc. raised its stake in Earthstone Energy by 37.1% during the 4th quarter. Citigroup Inc. now owns 6,713 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 1,817 shares during the period.

About Earthstone Energy (NYSE:ESTE)

Earthstone Energy, Inc, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States. The company's asset portfolio includes the Midland Basin of West Texas, Delaware Basin in New Mexico, and the Eagle Ford trend of south Texas.

Further Reading

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.