Earthstone Energy (ESTE) Lowered to “Hold” at Zacks Investment Research

Earthstone Energy (NYSE:ESTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

A number of other research analysts also recently issued reports on ESTE. Roth Capital set a $16.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Thursday, December 27th. Imperial Capital restated an “outperform” rating and issued a $8.00 price target (down previously from $12.00) on shares of Earthstone Energy in a research report on Thursday, December 27th. Stephens started coverage on shares of Earthstone Energy in a research report on Thursday, December 6th. They issued an “overweight” rating and a $11.00 price target on the stock. ValuEngine downgraded shares of Earthstone Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Finally, SunTrust Banks set a $14.00 price target on shares of Earthstone Energy and gave the stock a “buy” rating in a research report on Monday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Earthstone Energy presently has a consensus rating of “Buy” and a consensus target price of $12.94.

NYSE:ESTE opened at $6.33 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.37 and a current ratio of 0.37. Earthstone Energy has a one year low of $4.21 and a one year high of $11.98. The company has a market cap of $334.41 million, a P/E ratio of 4.43, a price-to-earnings-growth ratio of 0.15 and a beta of 1.69.

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, hitting the consensus estimate of $0.14. Earthstone Energy had a net margin of 5.33% and a return on equity of 2.75%. The business had revenue of $46.08 million for the quarter, compared to the consensus estimate of $42.96 million. On average, analysts expect that Earthstone Energy will post 0.72 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in shares of Earthstone Energy during the 3rd quarter valued at $123,000. AQR Capital Management LLC acquired a new position in shares of Earthstone Energy during the 3rd quarter valued at $137,000. Strs Ohio acquired a new position in shares of Earthstone Energy during the 3rd quarter valued at $186,000. Laurion Capital Management LP acquired a new position in shares of Earthstone Energy during the 3rd quarter valued at $204,000. Finally, American Century Companies Inc. acquired a new position in shares of Earthstone Energy during the 2nd quarter valued at $293,000. Institutional investors own 20.88% of the company’s stock.

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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