ValuEngine Upgrades Earthstone Energy (NYSE:ESTE) to “Sell”

ValuEngine upgraded shares of Earthstone Energy (NYSE:ESTE) from a strong sell rating to a sell rating in a report published on Tuesday, ValuEngine reports.

A number of other equities research analysts also recently weighed in on the company. SunTrust Banks dropped their target price on Earthstone Energy from $8.00 to $7.00 and set a buy rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a buy rating and issued a $10.00 price target on shares of Earthstone Energy in a report on Sunday, August 11th. Northland Securities reiterated a buy rating and issued a $6.00 price objective on shares of Earthstone Energy in a research report on Thursday, November 7th. Seaport Global Securities cut Earthstone Energy from a buy rating to a neutral rating in a report on Thursday, October 10th. Finally, Wells Fargo & Co restated a hold rating on shares of Earthstone Energy in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $8.41.

ESTE stock opened at $4.31 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.48 and a quick ratio of 0.48. The company has a 50 day moving average price of $4.42 and a 200 day moving average price of $4.66. Earthstone Energy has a fifty-two week low of $3.00 and a fifty-two week high of $7.94. The stock has a market capitalization of $288.61 million, a PE ratio of 3.55 and a beta of 2.01.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.05. The firm had revenue of $39.20 million for the quarter, compared to analyst estimates of $39.38 million. Earthstone Energy had a return on equity of 6.23% and a net margin of 23.82%. As a group, equities analysts expect that Earthstone Energy will post 0.83 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of ESTE. Bank of Montreal Can grew its stake in shares of Earthstone Energy by 168.4% during the second quarter. Bank of Montreal Can now owns 4,091 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 2,567 shares during the period. JBF Capital Inc. increased its stake in shares of Earthstone Energy by 0.3% in the 2nd quarter. JBF Capital Inc. now owns 860,765 shares of the oil and gas producer’s stock valued at $5,268,000 after acquiring an additional 2,728 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Earthstone Energy by 11.0% in the 3rd quarter. Rhumbline Advisers now owns 29,542 shares of the oil and gas producer’s stock valued at $96,000 after acquiring an additional 2,922 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Earthstone Energy by 9.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 47,590 shares of the oil and gas producer’s stock valued at $292,000 after acquiring an additional 4,287 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Earthstone Energy by 2.1% in the 2nd quarter. Northern Trust Corp now owns 254,753 shares of the oil and gas producer’s stock valued at $1,559,000 after acquiring an additional 5,258 shares during the period. 21.42% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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