Earthstone Energy (NYSE:ESTE) Shares Gap Up to $15.36

Shares of Earthstone Energy, Inc. (NYSE:ESTEGet Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $15.36, but opened at $15.80. Earthstone Energy shares last traded at $15.88, with a volume of 6,376 shares traded.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Earthstone Energy in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet raised shares of Earthstone Energy from a “c” rating to a “b-” rating in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.60.

Earthstone Energy Stock Performance

The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 4.43 and a beta of 2.13. The stock’s fifty day moving average is $14.71 and its two-hundred day moving average is $14.97. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.54.

Earthstone Energy (NYSE:ESTEGet Rating) last issued its earnings results on Wednesday, November 2nd. The oil and gas producer reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.20). The firm had revenue of $531.50 million for the quarter, compared to analyst estimates of $392.82 million. Earthstone Energy had a return on equity of 30.55% and a net margin of 26.98%. On average, analysts predict that Earthstone Energy, Inc. will post 5.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Post Oak Energy Holdings, Llc bought 150,000 shares of the stock in a transaction that occurred on Friday, September 23rd. The shares were acquired at an average cost of $11.37 per share, for a total transaction of $1,705,500.00. Following the completion of the acquisition, the insider now owns 10,167,213 shares in the company, valued at $115,601,211.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Earthstone Energy news, major shareholder Pincus (E&P) Xii L.P. Warburg sold 6,750,000 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $14.58, for a total value of $98,415,000.00. Following the transaction, the insider now directly owns 12,883,377 shares in the company, valued at $187,839,636.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Post Oak Energy Holdings, Llc acquired 150,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was bought at an average price of $11.37 per share, for a total transaction of $1,705,500.00. Following the completion of the acquisition, the insider now owns 10,167,213 shares of the company’s stock, valued at $115,601,211.81. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 6,845,690 shares of company stock worth $99,905,738. Insiders own 40.67% of the company’s stock.

Hedge Funds Weigh In On Earthstone Energy

Several institutional investors and hedge funds have recently modified their holdings of ESTE. SG Americas Securities LLC acquired a new position in shares of Earthstone Energy in the first quarter valued at $165,000. Envestnet Asset Management Inc. bought a new stake in shares of Earthstone Energy in the first quarter valued at about $390,000. ClariVest Asset Management LLC bought a new stake in shares of Earthstone Energy in the first quarter valued at about $1,436,000. Russell Investments Group Ltd. boosted its position in shares of Earthstone Energy by 46.3% in the first quarter. Russell Investments Group Ltd. now owns 409,903 shares of the oil and gas producer’s stock valued at $5,174,000 after acquiring an additional 129,806 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Earthstone Energy by 5,643.2% in the first quarter. New York State Common Retirement Fund now owns 1,035,043 shares of the oil and gas producer’s stock valued at $13,073,000 after acquiring an additional 1,017,021 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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