Equities research analysts expect Earthstone Energy Inc (NYSE:ESTE) to announce $39.66 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for Earthstone Energy’s earnings. The lowest sales estimate is $35.10 million and the highest is $42.10 million. Earthstone Energy posted sales of $35.68 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, March 13th.

On average, analysts expect that Earthstone Energy will report full year sales of $163.10 million for the current fiscal year, with estimates ranging from $157.00 million to $168.00 million. For the next financial year, analysts forecast that the business will post sales of $177.73 million, with estimates ranging from $158.40 million to $200.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Earthstone Energy.

A number of research analysts recently commented on ESTE shares. Roth Capital decreased their price objective on Earthstone Energy from $15.50 to $12.00 in a report on Thursday, January 24th. Zacks Investment Research upgraded Earthstone Energy from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a report on Tuesday, January 8th. Northland Securities reiterated a “buy” rating and issued a $11.00 price objective on shares of Earthstone Energy in a report on Wednesday, February 27th. Imperial Capital reiterated an “outperform” rating and issued a $9.00 price objective (up from $7.00) on shares of Earthstone Energy in a report on Wednesday, February 27th. Finally, Stephens started coverage on Earthstone Energy in a report on Thursday, December 6th. They issued an “overweight” rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $10.58.

Shares of ESTE stock traded up $0.31 during trading hours on Wednesday, reaching $7.18. The company had a trading volume of 90,854 shares, compared to its average volume of 173,012. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $440.80 million, a PE ratio of 5.02, a price-to-earnings-growth ratio of 0.35 and a beta of 1.89. Earthstone Energy has a 12-month low of $4.21 and a 12-month high of $11.00.

A number of large investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its stake in shares of Earthstone Energy by 2,296.6% during the third quarter. American Century Companies Inc. now owns 793,355 shares of the oil and gas producer’s stock worth $7,442,000 after buying an additional 760,252 shares during the period. Dimensional Fund Advisors LP lifted its position in Earthstone Energy by 30.7% in the third quarter. Dimensional Fund Advisors LP now owns 797,393 shares of the oil and gas producer’s stock valued at $7,479,000 after purchasing an additional 187,360 shares during the period. Marshall Wace LLP acquired a new stake in Earthstone Energy in the third quarter valued at about $1,446,000. Bridgeway Capital Management Inc. lifted its position in Earthstone Energy by 134.6% in the third quarter. Bridgeway Capital Management Inc. now owns 128,102 shares of the oil and gas producer’s stock valued at $1,202,000 after purchasing an additional 73,500 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Earthstone Energy in the fourth quarter valued at about $311,000. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Earthstone Energy Company Profile

Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.

See Also: Municipal Bonds

Get a free copy of the Zacks research report on Earthstone Energy (ESTE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

Receive News & Ratings for Earthstone Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy and related companies with MarketBeat.com's FREE daily email newsletter.