Citigroup Inc. Purchases 85,934 Shares of Earthstone Energy, Inc. (NYSE:ESTE)

Citigroup Inc. raised its position in Earthstone Energy, Inc. (NYSE:ESTE – Get Rating) by 37.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 314,926 shares of the oil and gas producer’s stock after buying an additional 85,934 shares during the period. Citigroup Inc.’s holdings in Earthstone Energy were worth $4,481,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Earthstone Energy by 43.0% during the first quarter. JPMorgan Chase & Co. now owns 89,777 shares of the oil and gas producer’s stock worth $1,134,000 after acquiring an additional 27,001 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Earthstone Energy by 74.5% during the first quarter. Bank of New York Mellon Corp now owns 218,768 shares of the oil and gas producer’s stock worth $2,763,000 after acquiring an additional 93,418 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Earthstone Energy during the first quarter worth about $182,000. D.A. Davidson & CO. bought a new position in shares of Earthstone Energy during the first quarter worth about $150,000. Finally, Acadian Asset Management LLC grew its stake in Earthstone Energy by 332.1% during the first quarter. Acadian Asset Management LLC now owns 53,131 shares of the oil and gas producer’s stock worth $669,000 after purchasing an additional 40,835 shares during the period. 82.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Earthstone Energy

In related news, CEO Robert John Anderson bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were bought at an average price of $11.45 per share, for a total transaction of $57,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 811,009 shares of the company’s stock, valued at $9,286,053.05. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 40.67% of the company’s stock.

Earthstone Energy Trading Up 1.2 %

Shares of Earthstone Energy stock opened at $12.93 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 0.52. Earthstone Energy, Inc. has a 52 week low of $10.65 and a 52 week high of $22.25. The stock has a 50 day moving average price of $13.19 and a two-hundred day moving average price of $13.88. The stock has a market capitalization of $1.82 billion, a PE ratio of 2.51 and a beta of 2.07.

Earthstone Energy (NYSE:ESTE – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Earthstone Energy had a return on equity of 28.38% and a net margin of 28.58%. The firm had revenue of $413.14 million during the quarter, compared to analysts’ expectations of $391.95 million. During the same quarter last year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 110.6% compared to the same quarter last year. As a group, equities analysts anticipate that Earthstone Energy, Inc. will post 4.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ESTE. Mizuho decreased their target price on Earthstone Energy from $19.00 to $18.00 in a research note on Friday. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of Earthstone Energy in a research note on Thursday, March 9th. Stephens began coverage on Earthstone Energy in a research note on Monday, April 24th. They set an “overweight” rating and a $18.00 target price for the company. Truist Financial raised their target price on Earthstone Energy from $23.00 to $30.00 in a research note on Tuesday, April 11th. Finally, StockNews.com began coverage on Earthstone Energy in a research note on Thursday. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.67.

About Earthstone Energy

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Earthstone Energy, Inc is a growth-oriented independent oil and gas company. The firm is engaged in the acquisition and development of oil and gas reserves through activities that include drilling and development of undeveloped leases, as well as asset and corporate acquisitions and mergers. It also focuses on the Midland Basin in West Texas, the Eagle Ford Trend in South Texas and the Delaware Basin in New Mexico.