Wall Street analysts forecast that Earthstone Energy Inc (NYSE:ESTE) will report $44.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Earthstone Energy’s earnings, with the highest sales estimate coming in at $49.65 million and the lowest estimate coming in at $40.00 million. Earthstone Energy posted sales of $31.28 million during the same quarter last year, which would indicate a positive year over year growth rate of 42%. The firm is expected to report its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Earthstone Energy will report full-year sales of $170.50 million for the current year, with estimates ranging from $160.00 million to $191.99 million. For the next financial year, analysts expect that the firm will report sales of $243.55 million per share, with estimates ranging from $211.60 million to $290.73 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Earthstone Energy.
Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings results on Monday, August 6th. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.13). The firm had revenue of $37.15 million during the quarter, compared to analysts’ expectations of $39.19 million. Earthstone Energy had a net margin of 6.79% and a return on equity of 2.47%.
A number of analysts recently issued reports on the company. ValuEngine upgraded Earthstone Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 10th. Imperial Capital lowered their price target on Earthstone Energy from $14.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, August 8th. Northland Securities set a $14.00 price target on Earthstone Energy and gave the company a “buy” rating in a report on Wednesday, August 8th. SunTrust Banks set a $13.00 price target on Earthstone Energy and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Earthstone Energy in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $13.33.
A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in shares of Earthstone Energy by 364.9% during the 2nd quarter. Renaissance Technologies LLC now owns 347,400 shares of the oil and gas producer’s stock valued at $3,074,000 after purchasing an additional 272,680 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Earthstone Energy by 71.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 610,033 shares of the oil and gas producer’s stock valued at $5,398,000 after purchasing an additional 254,152 shares during the last quarter. JBF Capital Inc. lifted its holdings in shares of Earthstone Energy by 92.4% during the 2nd quarter. JBF Capital Inc. now owns 289,804 shares of the oil and gas producer’s stock valued at $2,565,000 after purchasing an additional 139,194 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Earthstone Energy by 511.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,875 shares of the oil and gas producer’s stock valued at $813,000 after purchasing an additional 76,850 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Earthstone Energy during the 2nd quarter valued at $650,000. Institutional investors own 75.70% of the company’s stock.
Shares of NYSE ESTE traded down $0.29 during trading hours on Monday, reaching $8.33. The stock had a trading volume of 5,000 shares, compared to its average volume of 210,798. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $536.14 million, a price-to-earnings ratio of 6.01, a PEG ratio of 0.38 and a beta of 1.39. Earthstone Energy has a 52-week low of $7.45 and a 52-week high of $12.16.
About Earthstone Energy
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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