Wall Street analysts expect Earthstone Energy Inc (NYSE:ESTE) to announce sales of $43.75 million for the current quarter, Zacks reports. Six analysts have issued estimates for Earthstone Energy’s earnings, with the highest sales estimate coming in at $48.90 million and the lowest estimate coming in at $32.00 million. Earthstone Energy reported sales of $37.15 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.8%. The company is expected to announce its next earnings results on Monday, August 5th.
According to Zacks, analysts expect that Earthstone Energy will report full-year sales of $189.64 million for the current financial year, with estimates ranging from $175.10 million to $203.00 million. For the next financial year, analysts expect that the business will report sales of $225.69 million, with estimates ranging from $219.00 million to $232.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Earthstone Energy.
Earthstone Energy (NYSE:ESTE) last posted its quarterly earnings results on Monday, May 6th. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.58. The company had revenue of $40.73 million during the quarter, compared to the consensus estimate of $40.82 million. Earthstone Energy had a return on equity of 3.75% and a net margin of 11.99%.
Several research analysts have recently weighed in on ESTE shares. ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Northland Securities restated a “buy” rating and issued a $12.00 target price on shares of Medallion Financial in a research note on Tuesday, May 7th. Seaport Global Securities restated a “buy” rating on shares of W&T Offshore in a research note on Friday, June 21st. Zacks Investment Research downgraded Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, June 17th. Finally, Wells Fargo & Co initiated coverage on Forestar Group in a research note on Monday, July 8th. They issued an “outperform” rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $9.89.
Shares of ESTE stock traded down $0.06 on Friday, hitting $6.19. 101,866 shares of the stock were exchanged, compared to its average volume of 136,696. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $401.06 million, a price-to-earnings ratio of 4.30 and a beta of 1.83. Earthstone Energy has a one year low of $4.21 and a one year high of $10.82. The firm has a 50 day moving average price of $5.94.
In other Earthstone Energy news, EVP Tony Oviedo sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.38, for a total value of $76,560.00. Following the completion of the transaction, the executive vice president now owns 112,530 shares in the company, valued at approximately $717,941.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 63.04% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its stake in Earthstone Energy by 312.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,045 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 3,064 shares during the period. Heritage Investors Management Corp bought a new stake in shares of Earthstone Energy during the 1st quarter valued at about $102,000. Two Sigma Advisers LP bought a new stake in shares of Earthstone Energy during the 4th quarter valued at about $69,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Earthstone Energy during the 2nd quarter valued at about $111,000. Finally, Squarepoint Ops LLC boosted its position in shares of Earthstone Energy by 83.0% during the 4th quarter. Squarepoint Ops LLC now owns 22,142 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 10,042 shares during the last quarter. Institutional investors and hedge funds own 21.38% of the company’s stock.
Earthstone Energy Company Profile
Earthstone Energy, Inc, an independent energy company, engages in the development and operation of oil and gas properties 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, 2018, the company operated 93 gross Eagle Ford wells; and 13 gross Austin Chalk wells, as well as had 98,847 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 23,646 MBOE of proved developed reserves and 75,201 MBOE of proved undeveloped reserves.
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