Wasatch Advisors Inc. increased its position in Earthstone Energy Inc (NYSE:ESTE) by 6.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 898,260 shares of the oil and gas producer’s stock after acquiring an additional 56,849 shares during the quarter. Wasatch Advisors Inc. owned about 1.41% of Earthstone Energy worth $9,549,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ESTE. Citadel Advisors LLC purchased a new stake in Earthstone Energy in the 2nd quarter worth about $105,000. New York State Common Retirement Fund increased its holdings in Earthstone Energy by 849.2% in the 2nd quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock worth $114,000 after acquiring an additional 10,199 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in Earthstone Energy in the 2nd quarter worth about $120,000. Brandywine Global Investment Management LLC purchased a new stake in Earthstone Energy in the 2nd quarter worth about $122,000. Finally, Rhumbline Advisers purchased a new stake in Earthstone Energy in the 3rd quarter worth about $135,000. 13.41% of the stock is owned by institutional investors.
ESTE has been the subject of a number of recent analyst reports. BidaskClub raised Earthstone Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Northland Securities set a $14.00 target price on Earthstone Energy and gave the company a “buy” rating in a report on Monday, December 11th. Roth Capital set a $16.00 target price on Earthstone Energy and gave the company a “buy” rating in a report on Thursday, October 12th. Wells Fargo & Co initiated coverage on Earthstone Energy in a report on Thursday, November 30th. They set an “outperform” rating and a $12.00 target price for the company. Finally, Seaport Global Securities raised Earthstone Energy from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, December 5th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Earthstone Energy presently has an average rating of “Buy” and an average target price of $14.55.
Earthstone Energy (NYSE:ESTE) last issued its quarterly earnings results on Thursday, November 2nd. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. Earthstone Energy had a positive return on equity of 4.01% and a negative net margin of 54.69%. sell-side analysts forecast that Earthstone Energy Inc will post -0.55 earnings per share for the current year.
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.
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