Earthstone Energy Inc (NASDAQ:ESTE) – Research analysts at SunTrust Banks increased their Q3 2017 earnings per share (EPS) estimates for Earthstone Energy in a report released on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the company will post earnings per share of $0.05 for the quarter, up from their prior estimate of $0.01. SunTrust Banks also issued estimates for Earthstone Energy’s Q4 2017 earnings at $0.07 EPS, FY2018 earnings at $0.47 EPS, FY2019 earnings at $0.95 EPS and FY2020 earnings at $1.24 EPS.
ESTE has been the topic of several other reports. Imperial Capital assumed coverage on shares of Earthstone Energy in a research report on Tuesday, August 1st. They set an “outperform” rating and a $13.00 target price on the stock. Zacks Investment Research lowered shares of Earthstone Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Roth Capital set a $19.00 price objective on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Northland Securities set a $18.00 price objective on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, Seaport Global Securities lowered shares of Earthstone Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $17.00 to $11.00 in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $15.25.
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Earthstone Energy (NASDAQ:ESTE) opened at 9.45 on Monday. Earthstone Energy has a 12-month low of $7.67 and a 12-month high of $15.70. The stock’s market cap is $216.41 million. The stock has a 50 day moving average price of $9.62 and a 200 day moving average price of $11.97.
In related news, EVP Robert John Anderson sold 15,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $10.00, for a total value of $150,000.00. Following the sale, the executive vice president now directly owns 85,613 shares of the company’s stock, valued at approximately $856,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC purchased a new stake in Earthstone Energy during the second quarter worth $105,000. New York State Common Retirement Fund raised its stake in Earthstone Energy by 849.2% in the second quarter. New York State Common Retirement Fund now owns 11,400 shares of the company’s stock worth $114,000 after buying an additional 10,199 shares during the period. Virtu KCG Holdings LLC purchased a new stake in Earthstone Energy during the second quarter worth $120,000. Brandywine Global Investment Management LLC purchased a new stake in Earthstone Energy during the second quarter worth $122,000. Finally, California State Teachers Retirement System raised its stake in Earthstone Energy by 295.2% in the second quarter. California State Teachers Retirement System now owns 17,537 shares of the company’s stock worth $176,000 after buying an additional 13,100 shares during the period.
Earthstone Energy Company Profile
Earthstone Energy, Inc is an independent oil and natural gas development and production company. The Company is also engaged in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. Its operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States.
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