Insider Buying: Earthstone Energy Inc (NYSE:ESTE) CFO Purchases 15,000 Shares of Stock

Earthstone Energy Inc (NYSE:ESTE) CFO Mark Lumpkin, Jr. purchased 15,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was bought at an average cost of $2.26 per share, for a total transaction of $33,900.00.

NYSE ESTE traded up $0.27 during trading hours on Tuesday, hitting $2.30. The company’s stock had a trading volume of 398,900 shares, compared to its average volume of 292,728. The company’s 50 day simple moving average is $1.92 and its two-hundred day simple moving average is $4.03. Earthstone Energy Inc has a 12 month low of $1.44 and a 12 month high of $7.49. The company has a market cap of $131.40 million, a P/E ratio of 1.90 and a beta of 2.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 1.06.

Earthstone Energy (NYSE:ESTE) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Earthstone Energy had a return on equity of 6.30% and a net margin of 17.70%. The business had revenue of $45.14 million during the quarter, compared to analysts’ expectations of $50.90 million. As a group, research analysts predict that Earthstone Energy Inc will post 0.67 earnings per share for the current fiscal year.

Several brokerages have issued reports on ESTE. Wells Fargo & Co dropped their price target on Earthstone Energy from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Friday, April 3rd. ValuEngine lowered shares of Earthstone Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Roth Capital raised Earthstone Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, April 2nd. Imperial Capital cut their price target on shares of Earthstone Energy from $7.00 to $3.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Finally, SunTrust Banks increased their price objective on Earthstone Energy from $2.00 to $3.00 and gave the stock a “hold” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $4.94.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC bought a new stake in shares of Earthstone Energy during the 4th quarter valued at $234,000. Russell Investments Group Ltd. boosted its stake in shares of Earthstone Energy by 14,252.9% in the fourth quarter. Russell Investments Group Ltd. now owns 731,997 shares of the oil and gas producer’s stock worth $4,626,000 after acquiring an additional 726,897 shares during the period. Victory Capital Management Inc. grew its position in shares of Earthstone Energy by 24.1% during the fourth quarter. Victory Capital Management Inc. now owns 305,925 shares of the oil and gas producer’s stock worth $1,530,000 after purchasing an additional 59,319 shares in the last quarter. Monarch Partners Asset Management LLC bought a new stake in Earthstone Energy during the 4th quarter valued at approximately $399,000. Finally, Boston Partners purchased a new position in Earthstone Energy in the 4th quarter worth approximately $1,687,000. 22.96% of the stock is currently owned by hedge funds and other institutional investors.

About Earthstone Energy

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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