Earthstone Energy (NYSE:ESTE) Rating Lowered to C+ at TheStreet

Earthstone Energy (NYSE:ESTEGet Rating) was downgraded by investment analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Tuesday, TheStreetRatingsTable reports.

Several other equities analysts have also recently commented on ESTE. Wells Fargo & Company upped their price target on Earthstone Energy from $13.00 to $17.00 and gave the company an “underweight” rating in a report on Monday, March 14th. Zacks Investment Research upgraded Earthstone Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, April 19th. StockNews.com lowered Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Truist Financial upped their price objective on Earthstone Energy from $25.00 to $30.00 in a research note on Thursday, April 21st. Finally, Alliance Global Partners upped their price objective on Earthstone Energy from $28.00 to $33.00 in a research note on Friday, February 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Earthstone Energy has a consensus rating of “Buy” and a consensus target price of $20.36.

Shares of NYSE ESTE opened at $17.20 on Tuesday. The business’s 50-day moving average price is $13.98 and its two-hundred day moving average price is $12.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. Earthstone Energy has a one year low of $7.01 and a one year high of $17.58. The company has a market capitalization of $1.85 billion, a P/E ratio of 90.53 and a beta of 2.16.

Earthstone Energy (NYSE:ESTEGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.22. Earthstone Energy had a return on equity of 16.38% and a net margin of 1.45%. The company had revenue of $196.10 million during the quarter, compared to analysts’ expectations of $166.65 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 159.4% compared to the same quarter last year. On average, equities analysts anticipate that Earthstone Energy will post 3.39 EPS for the current year.

In other Earthstone Energy news, EVP Tony Oviedo sold 50,000 shares of the business’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $13.71, for a total transaction of $685,500.00. Following the sale, the executive vice president now owns 180,555 shares of the company’s stock, valued at $2,475,409.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Lumpkin, Jr. sold 30,000 shares of the business’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $16.47, for a total transaction of $494,100.00. Following the sale, the chief financial officer now directly owns 208,253 shares in the company, valued at approximately $3,429,926.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,500 shares of company stock valued at $2,031,175. 52.45% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Earthstone Energy by 6.6% in the 2nd quarter. Morgan Stanley now owns 121,360 shares of the oil and gas producer’s stock valued at $1,343,000 after buying an additional 7,549 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Earthstone Energy during the 3rd quarter worth $123,000. Deutsche Bank AG lifted its holdings in shares of Earthstone Energy by 53.6% during the 3rd quarter. Deutsche Bank AG now owns 23,088 shares of the oil and gas producer’s stock worth $213,000 after acquiring an additional 8,060 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Earthstone Energy by 1.6% during the 3rd quarter. BlackRock Inc. now owns 1,558,958 shares of the oil and gas producer’s stock worth $14,343,000 after acquiring an additional 24,208 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Earthstone Energy by 218.1% during the 3rd quarter. Barclays PLC now owns 9,795 shares of the oil and gas producer’s stock worth $90,000 after acquiring an additional 6,716 shares during the last quarter.

Earthstone Energy Company Profile (Get Rating)

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, Delaware Basin in New Mexico, and the Eagle Ford trend of south Texas.

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