Earthstone Energy (NYSE:ESTE) Reaches New 1-Year High at $15.14

Earthstone Energy, Inc. (NYSE:ESTE)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.14 and last traded at $14.62, with a volume of 1009151 shares traded. The stock had previously closed at $13.95.

A number of equities analysts have issued reports on the company. Truist Securities increased their price target on Earthstone Energy from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday. Alliance Global Partners increased their target price on Earthstone Energy from $20.00 to $28.00 in a report on Tuesday. Benchmark began coverage on Earthstone Energy in a report on Wednesday, November 3rd. They issued a “buy” rating and a $15.00 target price on the stock. Truist increased their target price on Earthstone Energy from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company increased their target price on Earthstone Energy from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, December 17th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $18.64.

The stock has a market capitalization of $1.26 billion, a PE ratio of -34.26 and a beta of 2.61. The firm has a 50-day moving average price of $11.13 and a 200-day moving average price of $10.21. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29.

Earthstone Energy (NYSE:ESTE) last announced its earnings results on Wednesday, November 3rd. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $110.38 million during the quarter, compared to analyst estimates of $88.07 million. Earthstone Energy had a positive return on equity of 7.99% and a negative net margin of 4.08%. During the same period last year, the firm posted $0.06 EPS. Sell-side analysts expect that Earthstone Energy, Inc. will post 1.44 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of ESTE. Sei Investments Co. grew its stake in shares of Earthstone Energy by 12.3% during the 2nd quarter. Sei Investments Co. now owns 123,748 shares of the oil and gas producer’s stock worth $1,370,000 after acquiring an additional 13,516 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Earthstone Energy by 47.1% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 27,258 shares of the oil and gas producer’s stock worth $302,000 after acquiring an additional 8,725 shares during the period. BlackRock Inc. grew its stake in shares of Earthstone Energy by 2.6% during the 2nd quarter. BlackRock Inc. now owns 1,534,750 shares of the oil and gas producer’s stock worth $16,990,000 after acquiring an additional 38,987 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Earthstone Energy by 84.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,129 shares of the oil and gas producer’s stock worth $566,000 after purchasing an additional 23,463 shares during the period. Finally, Bank of Montreal Can boosted its stake in Earthstone Energy by 35.5% in the 2nd quarter. Bank of Montreal Can now owns 164,170 shares of the oil and gas producer’s stock worth $1,864,000 after purchasing an additional 42,973 shares during the period. Institutional investors own 35.15% of the company’s stock.

About Earthstone Energy (NYSE:ESTE)

Earthstone Energy, Inc is an independent oil and gas holding company. It engages in the acquisition, exploration, development, and production of oil and gas reserves. It also focuses on the Midland Basin and Eagle Ford Trend properties. The company was founded on July 7, 1969 and is headquartered in The Woodlands, TX.

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