Creative Planning increased its holdings in Earthstone Energy, Inc. (NYSE:ESTE – Free Report) by 12.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,513 shares of the oil and gas producer’s stock after buying an additional 1,451 shares during the quarter. Creative Planning’s holdings in Earthstone Energy were worth $193,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Earthstone Energy by 56.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,198 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 796 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Earthstone Energy by 44.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 739 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in Earthstone Energy in the 3rd quarter worth approximately $34,000. Harbor Investment Advisory LLC increased its holdings in Earthstone Energy by 39.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,171 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 890 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Earthstone Energy in the 2nd quarter worth approximately $67,000. 69.94% of the stock is owned by institutional investors.
Insider Transactions at Earthstone Energy
In other news, EVP Tony Oviedo sold 20,899 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $21.28, for a total value of $444,730.72. Following the transaction, the executive vice president now directly owns 157,055 shares in the company, valued at $3,342,130.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Mark Lumpkin, Jr. sold 10,967 shares of Earthstone Energy stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $20.41, for a total value of $223,836.47. Following the completion of the sale, the chief financial officer now directly owns 288,660 shares in the company, valued at $5,891,550.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tony Oviedo sold 20,899 shares of Earthstone Energy stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $21.28, for a total transaction of $444,730.72. Following the transaction, the executive vice president now directly owns 157,055 shares in the company, valued at $3,342,130.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,083,834 shares of company stock worth $74,316,242. Insiders own 3.30% of the company’s stock.
Earthstone Energy Price Performance
Earthstone Energy (NYSE:ESTE – Get Free Report) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). Earthstone Energy had a return on equity of 22.08% and a net margin of 25.40%. The firm had revenue of $370.01 million during the quarter, compared to the consensus estimate of $350.15 million. During the same quarter last year, the business posted $1.29 EPS. Earthstone Energy’s revenue was down 21.7% compared to the same quarter last year. As a group, equities research analysts forecast that Earthstone Energy, Inc. will post 3.36 EPS for the current year.
Earthstone Energy Dividend Announcement
The business also recently declared an annual dividend, which will be paid on Monday, November 6th. Stockholders of record on Tuesday, October 31st will be issued a $0.1446 dividend. This represents a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, October 30th.
Analyst Ratings Changes
Several brokerages recently weighed in on ESTE. Capital One Financial downgraded shares of Earthstone Energy from an “overweight” rating to an “equal weight” rating and set a $20.00 target price for the company. in a report on Tuesday, September 12th. Truist Financial lowered their price target on Earthstone Energy from $31.00 to $24.00 in a report on Monday, July 24th. Stephens reissued an “overweight” rating and issued a $21.00 price target on shares of Earthstone Energy in a report on Wednesday, July 19th. Royal Bank of Canada lowered their price target on Earthstone Energy from $20.00 to $18.00 in a report on Monday, July 17th. Finally, Mizuho boosted their price target on Earthstone Energy from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, September 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.50.
View Our Latest Stock Report on ESTE
Earthstone Energy Company Profile
Earthstone Energy, Inc, operates as an independent oil and gas company in the United States. It engages in the acquisition and development of oil and gas reserves through drilling and development of undeveloped leases, as well as asset and corporate acquisitions and mergers. The company's asset portfolio includes the Midland Basin in West Texas, Delaware Basin in New Mexico, and the Eagle Ford trend located in southern Gonzales County, Texas.
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