Raymond James & Associates grew its holdings in shares of Earthstone Energy, Inc. (NYSE:ESTE – Free Report) by 30.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 215,078 shares of the oil and gas producer’s stock after buying an additional 49,827 shares during the period. Raymond James & Associates owned 0.15% of Earthstone Energy worth $3,073,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Ziegler Capital Management LLC acquired a new position in shares of Earthstone Energy during the second quarter valued at approximately $770,000. Creative Planning increased its stake in shares of Earthstone Energy by 12.0% during the second quarter. Creative Planning now owns 13,513 shares of the oil and gas producer’s stock valued at $193,000 after acquiring an additional 1,451 shares during the period. Denali Advisors LLC acquired a new position in shares of Earthstone Energy during the second quarter valued at approximately $130,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Earthstone Energy during the second quarter valued at approximately $258,000. Finally, Harbor Investment Advisory LLC increased its stake in shares of Earthstone Energy by 39.0% during the second quarter. Harbor Investment Advisory LLC now owns 3,171 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 890 shares during the period. Institutional investors own 69.94% of the company’s stock.
Earthstone Energy Trading Down 0.8 %
NYSE ESTE opened at $21.31 on Friday. Earthstone Energy, Inc. has a twelve month low of $11.32 and a twelve month high of $22.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 5.03 and a beta of 2.07. The firm’s 50 day moving average price is $20.25 and its two-hundred day moving average price is $16.20.
Earthstone Energy Dividend Announcement
The business also recently announced an annual dividend, which will be paid on Monday, November 6th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.1446 per share. This represents a dividend yield of 0.67%. The ex-dividend date is Monday, October 30th.
Insider Buying and Selling at Earthstone Energy
In other Earthstone Energy news, major shareholder Warburg Pincus Partners Ii (Us sold 5,000,000 shares of Earthstone Energy stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $14.52, for a total transaction of $72,600,000.00. Following the completion of the sale, the insider now owns 7,868,234 shares of the company’s stock, valued at approximately $114,246,757.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Tony Oviedo sold 20,899 shares of Earthstone Energy stock in a transaction on Friday, October 13th. The shares were sold at an average price of $21.28, for a total value of $444,730.72. Following the completion of the sale, the executive vice president now owns 157,055 shares of the company’s stock, valued at approximately $3,342,130.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Warburg Pincus Partners Ii (Us sold 5,000,000 shares of Earthstone Energy stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $14.52, for a total transaction of $72,600,000.00. Following the completion of the sale, the insider now directly owns 7,868,234 shares of the company’s stock, valued at approximately $114,246,757.68. The disclosure for this sale can be found here. Insiders sold 5,083,834 shares of company stock valued at $74,316,242 in the last quarter. Company insiders own 3.30% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on ESTE shares. Capital One Financial lowered shares of Earthstone Energy from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, September 12th. Royal Bank of Canada decreased their price target on shares of Earthstone Energy from $20.00 to $18.00 in a research report on Monday, July 17th. Stephens restated an “overweight” rating and issued a $21.00 price target on shares of Earthstone Energy in a research report on Wednesday, July 19th. Mizuho lifted their price target on shares of Earthstone Energy from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, September 18th. Finally, StockNews.com began coverage on shares of Earthstone Energy in a research report on Thursday. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Earthstone Energy currently has a consensus rating of “Hold” and a consensus target price of $22.50.
Check Out Our Latest Report on Earthstone Energy
Earthstone Energy 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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