Northland Securities Reaffirms Buy Rating for Earthstone Energy (NYSE:ESTE)

Northland Securities reaffirmed their buy rating on shares of Earthstone Energy (NYSE:ESTE) in a research report sent to investors on Tuesday, May 7th, AnalystRatings.com reports. The firm currently has a $11.00 price objective on the oil and gas producer’s stock.

“We believe this is the right move for a smaller company that would benefit from a larger production/cash flow base. Accordingly, we reiterate our OP and $11 PT.”,” the firm’s analyst wrote.

A number of other equities research analysts also recently issued reports on the company. ValuEngine raised Earthstone Energy from a strong sell rating to a sell rating in a research report on Tuesday, April 9th. TheStreet upgraded Earthstone Energy from a d+ rating to a c rating in a research note on Friday, April 5th. Zacks Investment Research upgraded Earthstone Energy from a sell rating to a hold rating in a research note on Wednesday, March 20th. Imperial Capital reiterated an outperform rating and issued a $9.00 price target (up from $7.00) on shares of Earthstone Energy in a research note on Wednesday, February 27th. Finally, Roth Capital dropped their price target on Earthstone Energy from $15.50 to $12.00 in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $10.25.

NYSE ESTE traded down $0.30 during trading on Tuesday, reaching $5.47. 94,983 shares of the company’s stock were exchanged, compared to its average volume of 141,622. The company has a market cap of $369.62 million, a PE ratio of 3.80, a price-to-earnings-growth ratio of 0.30 and a beta of 1.85. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.15. Earthstone Energy has a fifty-two week low of $4.21 and a fifty-two week high of $11.00.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings results on Monday, May 6th. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.58. The firm had revenue of $40.73 million for the quarter, compared to the consensus estimate of $40.82 million. Earthstone Energy had a return on equity of 3.75% and a net margin of 11.99%. As a group, research analysts anticipate that Earthstone Energy will post 0.67 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Earthstone Energy by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 43,303 shares of the oil and gas producer’s stock worth $307,000 after acquiring an additional 2,900 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Earthstone Energy by 312.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,045 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 3,064 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Earthstone Energy by 141.4% in the 4th quarter. Meeder Asset Management Inc. now owns 8,439 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 4,943 shares during the period. Vanguard Group Inc grew its stake in shares of Earthstone Energy by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 872,105 shares of the oil and gas producer’s stock valued at $8,180,000 after buying an additional 5,970 shares during the period. Finally, Globeflex Capital L P grew its stake in shares of Earthstone Energy by 22.8% in the 1st quarter. Globeflex Capital L P now owns 42,769 shares of the oil and gas producer’s stock valued at $303,000 after buying an additional 7,951 shares during the period. Hedge funds and other institutional investors own 21.38% of the company’s stock.

About Earthstone Energy

Earthstone Energy, Inc, an independent energy company, engages in the development and operation of oil and gas properties 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, 2018, the company operated 93 gross Eagle Ford wells; and 13 gross Austin Chalk wells, as well as had 98,847 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 23,646 MBOE of proved developed reserves and 75,201 MBOE of proved undeveloped reserves.

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Analyst Recommendations for Earthstone Energy (NYSE:ESTE)

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