Earthstone Energy (ESTE) – Research Analysts’ Weekly Ratings Updates

Earthstone Energy (NYSE: ESTE) has recently received a number of price target changes and ratings updates:

  • 4/14/2022 – Earthstone Energy was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 4/13/2022 – Earthstone Energy is now covered by analysts at Stephens. They set an “equal weight” rating and a $15.00 price target on the stock.
  • 4/5/2022 – Earthstone Energy was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Earthstone Energy, Inc. is a growth-oriented independent energy company engaged in developing and operating oil and gas properties. The Company’s primary assets are located in the Midland Basin of west Texas and the Eagle Ford trend of south Texas. “
  • 4/5/2022 – Earthstone Energy was upgraded by analysts at TheStreet from a “c” rating to a “b” rating.
  • 3/31/2022 – Earthstone Energy is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
  • 3/16/2022 – Earthstone Energy was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Earthstone Energy, Inc. is a growth-oriented independent energy company engaged in developing and operating oil and gas properties. The Company’s primary assets are located in the Midland Basin of west Texas and the Eagle Ford trend of south Texas. “
  • 3/15/2022 – Earthstone Energy was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 3/14/2022 – Earthstone Energy had its price target raised by analysts at Wells Fargo & Company from $13.00 to $17.00. They now have an “underweight” rating on the stock.

NYSE:ESTE traded up $0.15 during trading on Tuesday, reaching $14.77. The company’s stock had a trading volume of 34,629 shares, compared to its average volume of 807,451. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 25.47 and a beta of 2.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.41 and a current ratio of 0.41. The company has a 50 day simple moving average of $13.10. Earthstone Energy, Inc. has a 12 month low of $6.44 and a 12 month high of $15.27.

Earthstone Energy (NYSE:ESTEGet Rating) last announced its quarterly earnings data on Tuesday, March 8th. The oil and gas producer reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.08. Earthstone Energy had a return on equity of 11.26% and a net margin of 8.46%. During the same period in the prior year, the firm posted $0.09 earnings per share. Equities analysts forecast that Earthstone Energy, Inc. will post 2.8 earnings per share for the current year.

In other Earthstone Energy news, Chairman Frank Alan Lodzinski sold 50,000 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay Frederick Joliat sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $13.69, for a total value of $239,575.00. Following the completion of the transaction, the director now owns 93,450 shares of the company’s stock, valued at approximately $1,279,330.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,500 shares of company stock valued at $1,537,075. 49.56% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Foundry Partners LLC raised its holdings in shares of Earthstone Energy by 1.5% during the 1st quarter. Foundry Partners LLC now owns 313,280 shares of the oil and gas producer’s stock valued at $3,957,000 after buying an additional 4,625 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in Earthstone Energy in the 4th quarter worth approximately $202,000. Barclays PLC increased its stake in Earthstone Energy by 214.3% in the 4th quarter. Barclays PLC now owns 30,788 shares of the oil and gas producer’s stock worth $337,000 after purchasing an additional 20,993 shares during the period. BlackRock Inc. increased its stake in Earthstone Energy by 3.9% in the 4th quarter. BlackRock Inc. now owns 1,619,664 shares of the oil and gas producer’s stock worth $17,720,000 after purchasing an additional 60,706 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in Earthstone Energy in the 4th quarter worth approximately $177,000. 82.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

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