Equities research analysts at Stephens assumed coverage on shares of Earthstone Energy (NYSE:ESTE) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $11.00 price target on the oil and gas producer’s stock. Stephens’ target price would suggest a potential upside of 62.00% from the company’s current price.
A number of other equities analysts have also issued reports on the company. ValuEngine lowered Earthstone Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. SunTrust Banks set a $14.00 price objective on Earthstone Energy and gave the company a “buy” rating in a research report on Monday, October 22nd. Imperial Capital increased their price objective 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, Northland Securities set a $14.00 price objective on Earthstone Energy and gave the company a “buy” rating in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Earthstone Energy has a consensus rating of “Buy” and an average price target of $13.43.
Shares of NYSE ESTE opened at $6.79 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $431.14 million, a price-to-earnings ratio of 4.75, a PEG ratio of 0.32 and a beta of 1.35. Earthstone Energy has a 1 year low of $6.58 and a 1 year high of $12.16.
Several large investors have recently made changes to their positions in the company. Investment Counselors of Maryland LLC acquired a new stake in shares of Earthstone Energy during the 3rd quarter valued at $10,623,000. BlackRock Inc. lifted its holdings in shares of Earthstone Energy by 4.6% in the second quarter. BlackRock Inc. now owns 1,039,559 shares of the oil and gas producer’s stock valued at $9,200,000 after purchasing an additional 45,428 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Earthstone Energy by 2.3% in the second quarter. Wells Fargo & Company MN now owns 900,610 shares of the oil and gas producer’s stock valued at $7,971,000 after purchasing an additional 19,869 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Earthstone Energy by 30.7% in the third quarter. Dimensional Fund Advisors LP now owns 797,393 shares of the oil and gas producer’s stock valued at $7,479,000 after purchasing an additional 187,360 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Earthstone Energy by 2,296.6% in the third quarter. American Century Companies Inc. now owns 793,355 shares of the oil and gas producer’s stock valued at $7,442,000 after purchasing an additional 760,252 shares in the last quarter. Institutional investors own 20.88% of the company’s stock.
About Earthstone Energy
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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