Earthstone Energy (ESTE) Sets New 12-Month Low at $6.58

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

ESTE has been the subject of a number of research analyst reports. Stephens initiated coverage on shares of Earthstone Energy in a research report on Thursday. They set an “overweight” rating and a $11.00 price objective for the company. ValuEngine raised shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 9th. Imperial Capital lifted their price objective on shares of Earthstone Energy from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 9th. Finally, SunTrust Banks set a $14.00 price objective on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Monday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $13.43.

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

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Globeflex Capital L P acquired a new stake in shares of Earthstone Energy during the second quarter worth $120,000. GSA Capital Partners LLP acquired a new stake in shares of Earthstone Energy during the third quarter worth $123,000. AQR Capital Management LLC acquired a new stake in shares of Earthstone Energy during the third quarter worth $137,000. Strs Ohio acquired a new stake in shares of Earthstone Energy during the third quarter worth $186,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Earthstone Energy during the second quarter worth $196,000. 20.88% of the stock is owned by institutional investors.

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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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