Earthstone Energy, Inc. (NYSE:ESTE) Expected to Post Quarterly Sales of $326.77 Million

Equities research analysts predict that Earthstone Energy, Inc. (NYSE:ESTEGet Rating) will announce sales of $326.77 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Earthstone Energy’s earnings, with estimates ranging from $323.00 million to $330.53 million. Earthstone Energy reported sales of $89.67 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 264.4%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Earthstone Energy will report full-year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.20 billion to $1.27 billion. For the next financial year, analysts expect that the company will post sales of $1.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Earthstone Energy.

Earthstone Energy (NYSE:ESTEGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.22. Earthstone Energy had a return on equity of 16.38% and a net margin of 1.45%. The business had revenue of $196.10 million during the quarter, compared to analyst estimates of $166.65 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. Earthstone Energy’s revenue for the quarter was up 159.4% on a year-over-year basis.

A number of research firms have recently weighed in on ESTE. Zacks Investment Research raised Earthstone Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, April 19th. StockNews.com downgraded Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. TheStreet downgraded Earthstone Energy from a “b” rating to a “c+” rating in a research report on Tuesday, May 24th. Stephens began coverage on Earthstone Energy in a research report on Wednesday, April 13th. They issued an “equal weight” rating and a $15.00 target price on the stock. Finally, Roth Capital reiterated a “buy” rating on shares of Earthstone Energy in a research report on Tuesday, February 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Earthstone Energy currently has a consensus rating of “Buy” and an average target price of $20.36.

NYSE:ESTE opened at $18.02 on Wednesday. The firm has a market capitalization of $1.94 billion, a PE ratio of 94.84 and a beta of 2.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day simple moving average of $14.47 and a two-hundred day simple moving average of $12.91. Earthstone Energy has a 52-week low of $7.01 and a 52-week high of $19.83.

In other Earthstone Energy news, CFO Mark Lumpkin, Jr. sold 30,000 shares of the 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 owns 208,253 shares of the company’s stock, valued at approximately $3,429,926.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Frank Alan Lodzinski sold 50,000 shares of the stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $12.24, for a total value of $612,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 147,500 shares of company stock worth $2,031,175. 49.56% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its stake in Earthstone Energy by 44.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 739 shares during the last quarter. Ellevest Inc. raised its stake in Earthstone Energy by 130.1% in the 4th quarter. Ellevest Inc. now owns 4,056 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 2,293 shares during the last quarter. Citigroup Inc. raised its stake in Earthstone Energy by 329.9% in the 3rd quarter. Citigroup Inc. now owns 4,896 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 3,757 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Earthstone Energy by 58.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,746 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 2,124 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Earthstone Energy during the 4th quarter valued at about $71,000.

About Earthstone Energy (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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