Q3 2019 EPS Estimates for Earthstone Energy Inc Boosted by Analyst (NYSE:ESTE)

Share on StockTwits

Earthstone Energy Inc (NYSE:ESTE) – Equities research analysts at SunTrust Banks boosted their Q3 2019 earnings estimates for Earthstone Energy in a note issued to investors on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas producer will post earnings of $0.16 per share for the quarter, up from their prior forecast of $0.15. SunTrust Banks has a “Buy” rating and a $7.00 price target on the stock. SunTrust Banks also issued estimates for Earthstone Energy’s Q4 2019 earnings at $0.26 EPS, FY2019 earnings at $0.90 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.24 EPS and FY2020 earnings at $0.99 EPS.

Earthstone Energy (NYSE:ESTE) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $44.54 million during the quarter, compared to analyst estimates of $42.60 million. Earthstone Energy had a net margin of 16.18% and a return on equity of 5.47%.

A number of other research analysts have also issued reports on ESTE. Royal Bank of Canada restated a “buy” rating and set a $10.00 price target on shares of Earthstone Energy in a research note on Sunday, August 11th. Northland Securities restated a “buy” rating and set a $6.00 price target on shares of Earthstone Energy in a research note on Sunday, September 1st. Zacks Investment Research lowered shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Co restated a “hold” rating on shares of Earthstone Energy in a research note on Tuesday, August 13th. Finally, ValuEngine upgraded shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Earthstone Energy has a consensus rating of “Buy” and an average price target of $8.41.

Shares of Earthstone Energy stock opened at $3.82 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.14. Earthstone Energy has a 12-month low of $3.00 and a 12-month high of $9.68. The firm has a market capitalization of $213.32 million, a price-to-earnings ratio of 2.65 and a beta of 1.85. The firm’s 50 day simple moving average is $3.61 and its two-hundred day simple moving average is $5.17.

In related news, President Robert John Anderson purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $3.20 per share, for a total transaction of $32,000.00. Following the purchase, the president now owns 305,700 shares of the company’s stock, valued at approximately $978,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 63.04% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Investment Counselors of Maryland LLC boosted its holdings in Earthstone Energy by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 1,218,858 shares of the oil and gas producer’s stock worth $7,459,000 after buying an additional 13,084 shares in the last quarter. BlackRock Inc. boosted its holdings in Earthstone Energy by 18.4% during the second quarter. BlackRock Inc. now owns 1,180,331 shares of the oil and gas producer’s stock worth $7,224,000 after buying an additional 183,419 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Earthstone Energy by 2.5% during the second quarter. Vanguard Group Inc. now owns 888,271 shares of the oil and gas producer’s stock worth $5,436,000 after buying an additional 21,251 shares in the last quarter. JBF Capital Inc. boosted its holdings in Earthstone Energy by 0.3% during the second quarter. JBF Capital Inc. now owns 860,765 shares of the oil and gas producer’s stock worth $5,268,000 after buying an additional 2,728 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Earthstone Energy by 2.1% during the second quarter. Northern Trust Corp now owns 254,753 shares of the oil and gas producer’s stock worth $1,559,000 after buying an additional 5,258 shares in the last quarter. 21.34% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: How to trade on quiet period expirations

Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

Receive News & Ratings for Earthstone Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy and related companies with MarketBeat.com's FREE daily email newsletter.