Los Angeles Capital Management LLC trimmed its holdings in Earthstone Energy, Inc. (NYSE:ESTE – Get Rating) by 41.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 68,852 shares of the oil and gas producer’s stock after selling 49,586 shares during the period. Los Angeles Capital Management LLC’s holdings in Earthstone Energy were worth $980,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ESTE. JPMorgan Chase & Co. grew its position in Earthstone Energy by 43.0% in the first quarter. JPMorgan Chase & Co. now owns 89,777 shares of the oil and gas producer’s stock worth $1,134,000 after acquiring an additional 27,001 shares during the period. Bank of New York Mellon Corp grew its position in Earthstone Energy by 74.5% in the first quarter. Bank of New York Mellon Corp now owns 218,768 shares of the oil and gas producer’s stock worth $2,763,000 after acquiring an additional 93,418 shares during the period. PNC Financial Services Group Inc. purchased a new position in Earthstone Energy in the first quarter worth approximately $182,000. D.A. Davidson & CO. acquired a new position in Earthstone Energy during the first quarter worth $150,000. Finally, Acadian Asset Management LLC lifted its stake in Earthstone Energy by 332.1% during the first quarter. Acadian Asset Management LLC now owns 53,131 shares of the oil and gas producer’s stock worth $669,000 after purchasing an additional 40,835 shares in the last quarter. 82.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ESTE has been the topic of a number of research reports. StockNews.com initiated coverage on Earthstone Energy in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Truist Financial upped their price target on Earthstone Energy from $23.00 to $30.00 in a research note on Tuesday, April 11th. Mizuho initiated coverage on Earthstone Energy in a research note on Monday, January 9th. They set a “neutral” rating and a $19.00 price target on the stock. Stephens began coverage on Earthstone Energy in a research note on Monday, April 24th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of Earthstone Energy in a research note on Thursday, March 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.83.
Insider Buying and Selling at Earthstone Energy
Earthstone Energy Stock Down 4.9 %
Earthstone Energy stock opened at $12.93 on Wednesday. Earthstone Energy, Inc. has a 1-year low of $10.65 and a 1-year high of $22.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $1.82 billion, a PE ratio of 3.18 and a beta of 2.07. The stock’s fifty day moving average is $13.53 and its two-hundred day moving average is $14.10.
Earthstone Energy (NYSE:ESTE – Get Rating) last posted its quarterly earnings results on Wednesday, March 8th. The oil and gas producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. Earthstone Energy had a return on equity of 31.01% and a net margin of 26.69%. The company had revenue of $494.96 million for the quarter, compared to analysts’ expectations of $459.08 million. During the same period last year, the firm earned $0.46 earnings per share. Earthstone Energy’s quarterly revenue was up 243.7% on a year-over-year basis. On average, sell-side analysts expect that Earthstone Energy, Inc. will post 4.13 EPS for the current fiscal year.
Earthstone Energy Company Profile
Earthstone Energy, Inc is a growth-oriented independent oil and gas company. The firm is engaged in the acquisition and development of oil and gas reserves through activities that include drilling and development of undeveloped leases, as well as asset and corporate acquisitions and mergers. It also focuses on the Midland Basin in West Texas, the Eagle Ford Trend in South Texas and the Delaware Basin in New Mexico.
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