$50.69 Million in Sales Expected for Earthstone Energy Inc (ESTE) This Quarter

Brokerages expect Earthstone Energy Inc (NYSE:ESTE) to report $50.69 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Earthstone Energy’s earnings. The highest sales estimate is $57.00 million and the lowest is $46.30 million. Earthstone Energy posted sales of $35.68 million in the same quarter last year, which would indicate a positive year over year growth rate of 42.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, March 13th.

According to Zacks, analysts expect that Earthstone Energy will report full-year sales of $172.53 million for the current year, with estimates ranging from $164.70 million to $179.30 million. For the next fiscal year, analysts anticipate that the company will report sales of $213.40 million, with estimates ranging from $196.30 million to $235.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last posted its earnings results on Wednesday, November 7th. The oil and gas producer reported $0.14 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.14. Earthstone Energy had a return on equity of 2.75% and a net margin of 5.33%. The firm had revenue of $46.08 million for the quarter, compared to analysts’ expectations of $42.96 million.

ESTE has been the topic of a number of analyst reports. Imperial Capital raised their target price on Earthstone Energy from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, October 9th. ValuEngine upgraded Earthstone Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 9th. SunTrust Banks set a $14.00 target price on Earthstone Energy and gave the company a “buy” rating in a research report on Monday, October 22nd. Stephens initiated coverage on Earthstone Energy in a research report on Thursday, December 6th. They set an “overweight” rating and a $11.00 target price on the stock. Finally, Roth Capital set a $16.00 target price on Earthstone Energy and gave the company a “buy” rating in a research report on Thursday, December 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $12.94.

A number of hedge funds have recently bought and sold shares of the stock. Investment Counselors of Maryland LLC acquired a new stake in Earthstone Energy in the 3rd quarter worth about $10,623,000. BlackRock Inc. boosted its holdings in Earthstone Energy by 4.6% in the 2nd quarter. BlackRock Inc. now owns 1,039,559 shares of the oil and gas producer’s stock worth $9,200,000 after buying an additional 45,428 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Earthstone Energy by 2.3% in the 2nd quarter. Wells Fargo & Company MN now owns 900,610 shares of the oil and gas producer’s stock worth $7,971,000 after buying an additional 19,869 shares during the last quarter. Vanguard Group Inc boosted its holdings in 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 worth $8,180,000 after buying an additional 5,970 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Earthstone Energy by 30.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 797,393 shares of the oil and gas producer’s stock worth $7,479,000 after buying an additional 187,360 shares during the last quarter. Institutional investors own 20.88% of the company’s stock.

Shares of NYSE:ESTE traded up $0.02 during trading on Friday, reaching $6.35. 144,620 shares of the company’s stock traded hands, compared to its average volume of 204,827. Earthstone Energy has a fifty-two week low of $4.21 and a fifty-two week high of $11.98. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $403.60 million, a PE ratio of 4.44, a price-to-earnings-growth ratio of 0.18 and a beta of 1.69.

About Earthstone Energy

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.

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