Brokerages Expect Earthstone Energy, Inc. (NYSE:ESTE) to Announce $0.91 EPS

Brokerages expect Earthstone Energy, Inc. (NYSE:ESTEGet Rating) to post earnings of $0.91 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Earthstone Energy’s earnings. The lowest EPS estimate is $0.72 and the highest is $1.10. Earthstone Energy posted earnings per share of $0.26 during the same quarter last year, which would suggest a positive year over year growth rate of 250%. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Earthstone Energy will report full year earnings of $3.40 per share for the current fiscal year, with EPS estimates ranging from $2.65 to $4.14. For the next fiscal year, analysts expect that the company will report earnings of $4.90 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Earthstone Energy.

Earthstone Energy (NYSE:ESTEGet Rating) last issued its earnings results on Wednesday, May 4th. The oil and gas producer reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.22. Earthstone Energy had a net margin of 1.45% and a return on equity of 16.38%. The business had revenue of $196.10 million for the quarter, compared to the consensus estimate of $166.65 million. During the same quarter last year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 159.4% compared to the same quarter last year.

A number of equities research analysts recently weighed in on the stock. Alliance Global Partners raised their price target on shares of Earthstone Energy from $28.00 to $33.00 in a report on Friday, February 11th. Roth Capital reaffirmed a “buy” rating on shares of Earthstone Energy in a report on Tuesday, February 8th. Truist Financial raised their price target on shares of Earthstone Energy from $25.00 to $30.00 in a report on Thursday, April 21st. Zacks Investment Research raised shares of Earthstone Energy from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, April 19th. Finally, TheStreet raised shares of Earthstone Energy from a “c” rating to a “b” rating in a report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Earthstone Energy currently has an average rating of “Buy” and an average target price of $20.36.

ESTE traded up $1.00 during trading hours on Monday, reaching $14.72. 1,140,475 shares of the stock traded hands, compared to its average volume of 937,509. The firm’s fifty day simple moving average is $13.57 and its two-hundred day simple moving average is $12.51. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 77.47 and a beta of 2.16. Earthstone Energy has a fifty-two week low of $7.01 and a fifty-two week high of $17.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30.

In other news, Chairman Frank Alan Lodzinski sold 50,000 shares of Earthstone Energy stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $12.24, for a total value of $612,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lumpkin, Jr. sold 30,000 shares of Earthstone Energy stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $16.47, for a total transaction of $494,100.00. Following the completion of the transaction, the chief financial officer now directly owns 208,253 shares of the company’s stock, valued at $3,429,926.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,500 shares of company stock valued at $2,031,175. 49.56% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its position in 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 valued at $30,000 after purchasing an additional 739 shares during the last quarter. California State Teachers Retirement System lifted its position in Earthstone Energy by 7.5% in the 4th quarter. California State Teachers Retirement System now owns 13,838 shares of the oil and gas producer’s stock valued at $151,000 after purchasing an additional 964 shares during the last quarter. Rhumbline Advisers lifted its position in Earthstone Energy by 4.4% in the 4th quarter. Rhumbline Advisers now owns 31,497 shares of the oil and gas producer’s stock valued at $345,000 after purchasing an additional 1,329 shares during the last quarter. Captrust Financial Advisors lifted its position in Earthstone Energy by 17.6% in the 1st quarter. Captrust Financial Advisors now owns 9,184 shares of the oil and gas producer’s stock valued at $116,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Earthstone Energy by 37.1% in the 4th quarter. Citigroup Inc. now owns 6,713 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 1,817 shares during the last quarter.

About Earthstone Energy (Get Rating)

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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