Earthstone Energy (NYSE:ESTE) released its quarterly earnings data on Wednesday. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14, Fidelity Earnings reports. Earthstone Energy had a return on equity of 2.47% and a net margin of 6.79%. The business had revenue of $46.08 million for the quarter, compared to the consensus estimate of $42.96 million.
ESTE traded down $0.07 during trading hours on Friday, reaching $7.90. 9,064 shares of the company’s stock traded hands, compared to its average volume of 136,130. Earthstone Energy has a 52-week low of $7.45 and a 52-week high of $12.16. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.03. The stock has a market cap of $517.58 million, a P/E ratio of 5.52, a PEG ratio of 0.41 and a beta of 1.42.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Investment Counselors of Maryland LLC purchased a new stake in shares of Earthstone Energy in the 3rd quarter worth $10,623,000. American Century Companies Inc. lifted its stake in shares of Earthstone Energy by 2,296.6% during the 3rd quarter. American Century Companies Inc. now owns 793,355 shares of the oil and gas producer’s stock worth $7,442,000 after purchasing an additional 760,252 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Earthstone Energy by 17.7% during the 3rd quarter. Victory Capital Management Inc. now owns 198,549 shares of the oil and gas producer’s stock worth $1,862,000 after purchasing an additional 29,801 shares during the last quarter. Strs Ohio purchased a new stake in shares of Earthstone Energy during the 3rd quarter worth $186,000. Finally, Gradient Investments LLC lifted its stake in shares of Earthstone Energy by 46.1% during the 3rd quarter. Gradient Investments LLC now owns 156,512 shares of the oil and gas producer’s stock worth $1,468,000 after purchasing an additional 49,366 shares during the last quarter. Institutional investors own 74.96% of the company’s stock.
Several research firms have recently weighed in on ESTE. Seaport Global Securities reissued a “buy” rating on shares of Earthstone Energy in a research report on Wednesday, July 25th. SunTrust Banks set a $14.00 target price on Earthstone Energy and gave the company a “buy” rating in a research report on Monday, October 22nd. Northland Securities set a $14.00 target price on Earthstone Energy and gave the company a “buy” rating in a research report on Wednesday, August 8th. Imperial Capital boosted their target price on Earthstone Energy from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, October 9th. Finally, ValuEngine raised Earthstone Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $13.25.
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Earthstone Energy Company Profile
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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