Zacks Investment Research Lowers Earthstone Energy Inc (ESTE) to Hold

Zacks Investment Research downgraded shares of Earthstone Energy Inc (NASDAQ:ESTE) from a buy rating to a hold rating in a research report released on Thursday.

According to Zacks, “Earthstone Energy, Inc., formerly known as Basic Earth Science Systems, Inc., is an independent oil and gas exploration and production company. Its primary focus is in the Montana and North Dakota portions of the Williston basin. The Company is based in Denver, Colorado. “

Several other equities research analysts have also recently issued reports on the stock. Roth Capital set a $16.00 price objective on shares of Earthstone Energy and gave the stock a buy rating in a research report on Thursday, October 12th. Robert W. Baird set a $14.00 price objective on shares of Earthstone Energy and gave the stock a buy rating in a research report on Friday, October 20th. SunTrust Banks, Inc. set a $15.00 price objective on shares of Earthstone Energy and gave the stock a buy rating in a research report on Friday, October 20th. 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, BidaskClub upgraded shares of Earthstone Energy from a sell rating to a hold rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $14.14.

Earthstone Energy (NASDAQ ESTE) traded up $0.05 during trading on Thursday, reaching $9.11. 264,637 shares of the company traded hands, compared to its average volume of 334,968. Earthstone Energy has a 52-week low of $7.85 and a 52-week high of $15.70.

WARNING: “Zacks Investment Research Lowers Earthstone Energy Inc (ESTE) to Hold” was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this news story can be accessed at https://www.chaffeybreeze.com/2017/11/12/zacks-investment-research-lowers-earthstone-energy-inc-este-to-hold.html.

Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN increased its position in shares of Earthstone Energy by 126,489.0% during the second quarter. Wells Fargo & Company MN now owns 854,476 shares of the company’s stock valued at $8,553,000 after acquiring an additional 853,801 shares during the last quarter. Argent Capital Management LLC increased its position in shares of Earthstone Energy by 17.4% during the second quarter. Argent Capital Management LLC now owns 138,765 shares of the company’s stock valued at $1,389,000 after acquiring an additional 20,550 shares during the last quarter. Northpointe Capital LLC increased its position in shares of Earthstone Energy by 25.3% during the second quarter. Northpointe Capital LLC now owns 696,861 shares of the company’s stock valued at $6,976,000 after acquiring an additional 140,858 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Earthstone Energy by 153.2% during the second quarter. Bank of New York Mellon Corp now owns 42,661 shares of the company’s stock valued at $427,000 after acquiring an additional 25,813 shares during the last quarter. Finally, Sanders Morris Harris LLC increased its position in shares of Earthstone Energy by 75.3% during the third quarter. Sanders Morris Harris LLC now owns 151,563 shares of the company’s stock valued at $1,666,000 after acquiring an additional 65,093 shares during the last quarter.

About Earthstone Energy

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.

Get a free copy of the Zacks research report on Earthstone Energy (ESTE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Earthstone Energy (NASDAQ:ESTE)

Receive News & Ratings for Earthstone Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply