Earthstone Energy (NYSE:ESTE) Given New $12.50 Price Target at Roth Capital

Earthstone Energy (NYSE:ESTE) had its price objective raised by investment analysts at Roth Capital from $10.50 to $12.50 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Roth Capital’s price objective would indicate a potential upside of 70.30% from the stock’s previous close.

Separately, Zacks Investment Research upgraded shares of Earthstone Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, March 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $6.71.

Earthstone Energy stock opened at $7.34 on Tuesday. The stock has a market cap of $576.54 million, a price-to-earnings ratio of -29.36 and a beta of 2.90. Earthstone Energy has a 1 year low of $1.80 and a 1 year high of $9.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average of $7.44 and a two-hundred day moving average of $5.62.

Earthstone Energy (NYSE:ESTE) last posted its quarterly earnings data on Thursday, March 11th. The oil and gas producer reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The business had revenue of $36.68 million during the quarter, compared to the consensus estimate of $42.57 million. Earthstone Energy had a negative net margin of 4.41% and a positive return on equity of 5.07%. Research analysts expect that Earthstone Energy will post 0.48 earnings per share for the current year.

In other Earthstone Energy news, EVP Tony Oviedo sold 25,000 shares of the stock in a transaction dated Wednesday, April 7th. The stock was sold at an average price of $8.12, for a total value of $203,000.00. Following the completion of the transaction, the executive vice president now directly owns 176,798 shares in the company, valued at $1,435,599.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 62.79% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dorsey Wright & Associates bought a new stake in Earthstone Energy in the 1st quarter valued at about $34,000. Meeder Asset Management Inc. bought a new position in shares of Earthstone Energy in the first quarter worth $44,000. Walleye Capital LLC purchased a new position in Earthstone Energy during the fourth quarter worth about $64,000. The Manufacturers Life Insurance Company bought a new position in Earthstone Energy in the 1st quarter worth about $110,000. Finally, Rhumbline Advisers boosted its position in shares of Earthstone Energy by 16.4% during the 4th quarter. Rhumbline Advisers now owns 35,190 shares of the oil and gas producer’s stock valued at $188,000 after acquiring an additional 4,964 shares during the last quarter. 21.99% of the stock is currently owned by hedge funds and other institutional investors.

Earthstone Energy Company Profile

Earthstone Energy, Inc, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States. The company's asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas.

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