Earthstone Energy Inc (NYSE:ESTE) – Seaport Global Securities reduced their Q4 2018 earnings estimates for shares of Earthstone Energy in a note issued to investors on Wednesday, January 16th. Seaport Global Securities analyst J. Aschenbeck now forecasts that the oil and gas producer will earn $0.07 per share for the quarter, down from their prior forecast of $0.09. Seaport Global Securities also issued estimates for Earthstone Energy’s Q1 2020 earnings at $0.17 EPS, Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.20 EPS and Q4 2020 earnings at $0.21 EPS.
Earthstone Energy (NYSE:ESTE) last posted its quarterly earnings data on Wednesday, November 7th. The oil and gas producer reported $0.14 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The business had revenue of $46.08 million during the quarter, compared to analyst estimates of $42.96 million. Earthstone Energy had a net margin of 5.33% and a return on equity of 2.75%.
Several other brokerages have also recently weighed in on ESTE. ValuEngine raised shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 9th. SunTrust Banks set a $14.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a report on Monday, October 22nd. Imperial Capital raised their target price on shares of Earthstone Energy from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, October 9th. Stephens assumed coverage on shares of Earthstone Energy in a report on Thursday, December 6th. They issued an “overweight” rating and a $11.00 target price on the stock. Finally, Zacks Investment Research cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $12.81.
Shares of NYSE:ESTE opened at $6.63 on Friday. The company has a market capitalization of $367.08 million, a P/E ratio of 4.64, a PEG ratio of 0.17 and a beta of 1.69. Earthstone Energy has a fifty-two week low of $4.21 and a fifty-two week high of $11.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.37.
A number of hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its position in shares of Earthstone Energy by 141.4% during the fourth quarter. Meeder Asset Management Inc. now owns 8,439 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 4,943 shares during the last quarter. Vanguard Group Inc grew its position in shares of Earthstone Energy by 0.7% during the third quarter. Vanguard Group Inc now owns 872,105 shares of the oil and gas producer’s stock worth $8,180,000 after acquiring an additional 5,970 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Earthstone Energy by 15.2% during the third quarter. TIAA CREF Investment Management LLC now owns 87,381 shares of the oil and gas producer’s stock worth $820,000 after acquiring an additional 11,557 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Earthstone Energy during the third quarter worth approximately $123,000. Finally, AQR Capital Management LLC purchased a new position in shares of Earthstone Energy during the third quarter worth approximately $137,000. 20.88% of the stock is currently owned by institutional investors.
Earthstone Energy Company Profile
Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.