Earthstone Energy (NYSE:ESTE) Shares Down 8.2%

Earthstone Energy, Inc. (NYSE:ESTEGet Rating)’s share price fell 8.2% during trading on Friday . The company traded as low as $14.04 and last traded at $14.04. 42,483 shares traded hands during trading, a decline of 98% from the average session volume of 1,713,021 shares. The stock had previously closed at $15.29.

Analysts Set New Price Targets

A number of research firms have commented on ESTE. Truist Financial raised their price objective on Earthstone Energy from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 29th. Wells Fargo & Company raised their price objective on Earthstone Energy from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, July 11th. TheStreet upgraded Earthstone Energy from a “c” rating to a “b-” rating in a research note on Wednesday, August 10th. Finally, Royal Bank of Canada lowered Earthstone Energy from an “outperform” rating to a “sector perform” rating and set a $21.00 price target on the stock. in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Earthstone Energy has a consensus rating of “Hold” and a consensus price target of $23.00.

Earthstone Energy Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 7.62 and a beta of 2.04. The company has a fifty day moving average of $14.05 and a two-hundred day moving average of $14.61.

Earthstone Energy (NYSE:ESTEGet Rating) last released its quarterly earnings data on Thursday, August 4th. The oil and gas producer reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.06. Earthstone Energy had a return on equity of 25.59% and a net margin of 17.51%. The company had revenue of $472.50 million for the quarter, compared to the consensus estimate of $380.03 million. During the same quarter last year, the business posted $0.26 EPS. Earthstone Energy’s revenue for the quarter was up 426.8% on a year-over-year basis. Equities research analysts anticipate that Earthstone Energy, Inc. will post 5.84 EPS for the current year.

Insider Activity at Earthstone Energy

In related news, Chairman Frank Alan Lodzinski sold 26,132 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $11.05, for a total transaction of $288,758.60. Following the sale, the chairman now owns 439,076 shares of the company’s stock, valued at approximately $4,851,789.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Earthstone Energy news, Chairman Frank Alan Lodzinski sold 26,132 shares of Earthstone Energy stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $11.05, for a total transaction of $288,758.60. Following the transaction, the chairman now directly owns 439,076 shares of the company’s stock, valued at approximately $4,851,789.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay Frederick Joliat bought 20,237 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were bought at an average cost of $11.66 per share, for a total transaction of $235,963.42. Following the completion of the acquisition, the director now directly owns 90,000 shares in the company, valued at approximately $1,049,400. The disclosure for this purchase can be found here. 40.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ESTE. Ameritas Investment Partners Inc. lifted its holdings in Earthstone Energy by 44.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 739 shares during the period. Amalgamated Bank acquired a new position in shares of Earthstone Energy in the 1st quarter valued at about $41,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Earthstone Energy in the 2nd quarter valued at about $67,000. Ellevest Inc. lifted its stake in shares of Earthstone Energy by 71.3% in the 1st quarter. Ellevest Inc. now owns 6,946 shares of the oil and gas producer’s stock valued at $88,000 after purchasing an additional 2,890 shares during the period. Finally, Captrust Financial Advisors lifted its stake in shares of Earthstone Energy by 17.6% in the 1st quarter. Captrust Financial Advisors now owns 9,184 shares of the oil and gas producer’s stock valued at $116,000 after purchasing an additional 1,375 shares during the period.

Earthstone Energy Company Profile

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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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