Earthstone Energy (NYSE:ESTE) Trading Down 7.4%

Earthstone Energy, Inc. (NYSE:ESTE)’s stock price dropped 7.4% on Monday . The stock traded as low as $8.08 and last traded at $8.08. Approximately 1,164 shares were traded during trading, a decline of 100% from the average daily volume of 315,401 shares. The stock had previously closed at $8.73.

ESTE has been the topic of several research reports. Alliance Global Partners boosted their price target on Earthstone Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, June 15th. Roth Capital boosted their price target on Earthstone Energy from $12.50 to $16.50 and gave the stock a “buy” rating in a report on Thursday, July 8th. Finally, Wells Fargo & Company cut Earthstone Energy from an “equal weight” rating to an “underweight” rating and set a C$10.00 price target on the stock. in a report on Monday, August 23rd.

The firm has a fifty day simple moving average of $8.81 and a two-hundred day simple moving average of $8.99. The stock has a market cap of $629.86 million, a PE ratio of -10.02 and a beta of 2.91. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings data on Wednesday, August 4th. The oil and gas producer reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. Earthstone Energy had a positive return on equity of 5.09% and a negative net margin of 11.78%. The company had revenue of $89.67 million for the quarter, compared to analysts’ expectations of $71.37 million. Equities analysts forecast that Earthstone Energy, Inc. will post 0.97 earnings per share for the current year.

A number of large investors have recently made changes to their positions in ESTE. The Manufacturers Life Insurance Company purchased a new stake in shares of Earthstone Energy in the first quarter worth about $110,000. Victory Capital Management Inc. lifted its holdings in shares of Earthstone Energy by 2.8% during the 1st quarter. Victory Capital Management Inc. now owns 176,470 shares of the oil and gas producer’s stock valued at $1,262,000 after purchasing an additional 4,807 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Earthstone Energy by 65.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,524 shares of the oil and gas producer’s stock valued at $90,000 after purchasing an additional 4,977 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Earthstone Energy by 3.6% during the 1st quarter. BlackRock Inc. now owns 1,495,763 shares of the oil and gas producer’s stock valued at $10,694,000 after purchasing an additional 52,645 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Earthstone Energy during the 1st quarter valued at about $148,000. Institutional investors and hedge funds own 39.45% of the company’s stock.

Earthstone Energy Company Profile (NYSE:ESTE)

Earthstone Energy, Inc is an independent oil and gas holding company. It engages in the acquisition, exploration, development, and production of oil and gas reserves. It also focuses on the Midland Basin and Eagle Ford Trend properties. The company was founded on July 7, 1969 and is headquartered in The Woodlands, TX.

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