Wall Street brokerages forecast that Earthstone Energy Inc (NASDAQ:ESTE) will announce $24.82 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Earthstone Energy’s earnings, with the lowest sales estimate coming in at $22.00 million and the highest estimate coming in at $26.00 million. Earthstone Energy posted sales of $9.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 153%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, August 8th.
On average, analysts expect that Earthstone Energy will report full year sales of $24.82 million for the current year, with estimates ranging from $100.70 million to $111.40 million. For the next year, analysts forecast that the business will post sales of $171.54 million per share, with estimates ranging from $119.10 million to $199.72 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Earthstone Energy.
Earthstone Energy (NASDAQ:ESTE) last announced its quarterly earnings results on Monday, May 8th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.03. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.60 million. Earthstone Energy had a return on equity of 1.21% and a net margin of 4.75%.
A number of equities research analysts have recently commented on the stock. Imperial Capital assumed coverage on shares of Earthstone Energy in a report on Tuesday. They issued an “outperform” rating and a $13.00 target price for the company. Roth Capital set a $19.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a report on Wednesday, July 19th. Northland Securities set a $18.00 target price on shares of Earthstone Energy and gave the company a “buy” rating in a report on Monday, July 17th. Zacks Investment Research cut shares of Earthstone Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Seaport Global Securities cut shares of Earthstone Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $11.00 in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.25.
Shares of Earthstone Energy (NASDAQ:ESTE) traded up 3.19% during midday trading on Wednesday, reaching $9.69. The company’s stock had a trading volume of 58,419 shares. Earthstone Energy has a 52 week low of $7.67 and a 52 week high of $15.70. The stock’s market capitalization is $218.60 million. The company has a 50 day moving average of $9.83 and a 200-day moving average of $12.25.
In other news, EVP Robert John Anderson sold 15,000 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. Following the transaction, the executive vice president now directly owns 85,613 shares in the company, valued at $856,130. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Several hedge funds and other institutional investors have recently modified their holdings of ESTE. Bank of New York Mellon Corp raised its position in shares of Earthstone Energy by 153.2% in the second quarter. Bank of New York Mellon Corp now owns 42,661 shares of the company’s stock worth $427,000 after buying an additional 25,813 shares during the period. Northpointe Capital LLC raised its position in shares of Earthstone Energy by 25.3% in the second quarter. Northpointe Capital LLC now owns 696,861 shares of the company’s stock worth $6,976,000 after buying an additional 140,858 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Earthstone Energy during the second quarter worth about $187,000.
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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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