A number of other brokerages have also issued reports on ESTE. Zacks Investment Research lowered Earthstone Energy from a hold rating to a sell rating in a research note on Thursday, February 16th. Robert W. Baird upgraded Earthstone Energy from a neutral rating to an outperform rating and increased their price target for the stock from $11.00 to $16.00 in a research note on Monday, November 21st. Seaport Global Securities lowered Earthstone Energy from a buy rating to an accumulate rating in a research report on Friday, December 9th. FBR & Co raised their price objective on Earthstone Energy from $17.00 to $18.00 and gave the company an outperform rating in a research report on Monday, December 19th. Finally, Iberia Capital assumed coverage on Earthstone Energy in a research report on Wednesday, January 18th. They set an outperform rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Earthstone Energy has a consensus rating of Buy and an average target price of $16.67.
Earthstone Energy (AMEX:ESTE) opened at 13.09 on Thursday. The company’s 50-day moving average price is $13.13 and its 200-day moving average price is $11.88. The stock’s market cap is $291.55 million. Earthstone Energy has a one year low of $7.67 and a one year high of $15.93.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Oberweis Asset Management Inc. raised its position in shares of Earthstone Energy by 19.4% in the fourth quarter. Oberweis Asset Management Inc. now owns 69,253 shares of the company’s stock worth $952,000 after buying an additional 11,253 shares during the last quarter. Amtrust Financial Services Inc. purchased a new position in shares of Earthstone Energy during the fourth quarter worth $1,420,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Earthstone Energy during the fourth quarter worth $233,000.
Earthstone Energy Company Profile
Earthstone Energy, Inc is an independent oil and natural gas exploration and production company. The Company is focused on the acquisition, development, exploration and production of onshore, crude oil and natural gas reserves. The Company’s operations are in the upstream segment of the oil and natural gas industry, and are conducted onshore in the United States.
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