Earthstone Energy Inc (ESTE) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Earthstone Energy Inc (NASDAQ:ESTE) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $12.00 price target on the stock.
According to Zacks, “Earthstone Energy, Inc., formerly known as Basic Earth Science Systems, Inc., is an independent oil and gas exploration and production company. Its primary focus is in the Montana and North Dakota portions of the Williston basin. The Company is based in Denver, Colorado. “
A number of other equities research analysts have also recently commented on ESTE. Northland Securities reissued a buy rating and set a $18.00 target price on shares of Earthstone Energy in a research report on Tuesday, September 26th. BidaskClub raised shares of Earthstone Energy from a hold rating to a buy rating in a research report on Tuesday, September 26th. Imperial Capital assumed coverage on shares of Earthstone Energy in a research report on Tuesday, August 1st. They set an outperform rating and a $13.00 target price for the company. Robert W. Baird reissued a buy rating on shares of Earthstone Energy in a research report on Sunday, September 17th. Finally, Roth Capital set a $16.00 target price on shares of Earthstone Energy and gave the company a buy rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $14.14.
Shares of Earthstone Energy (NASDAQ:ESTE) remained flat at $9.04 during trading on Tuesday. The company had a trading volume of 511,565 shares. The stock’s market capitalization is $207.03 million. The firm’s 50-day moving average price is $10.42 and its 200-day moving average price is $11.04. Earthstone Energy has a 12 month low of $8.02 and a 12 month high of $15.70.
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Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in shares of Earthstone Energy by 126,489.0% in the second quarter. Wells Fargo & Company MN now owns 854,476 shares of the company’s stock worth $8,553,000 after buying an additional 853,801 shares during the last quarter. Northpointe Capital LLC raised its holdings in shares of Earthstone Energy by 25.3% in the second quarter. Northpointe Capital LLC now owns 696,861 shares of the company’s stock worth $6,976,000 after buying an additional 140,858 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Earthstone Energy by 84.9% in the second quarter. Vanguard Group Inc. now owns 520,807 shares of the company’s stock worth $5,214,000 after buying an additional 239,193 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Earthstone Energy by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 388,040 shares of the company’s stock worth $3,884,000 after buying an additional 94,469 shares during the last quarter. Finally, Argent Capital Management LLC raised its holdings in shares of Earthstone Energy by 17.4% in the second quarter. Argent Capital Management LLC now owns 138,765 shares of the company’s stock worth $1,389,000 after buying an additional 20,550 shares during the last quarter.
Earthstone Energy Company Profile
Earthstone Energy, Inc is an independent oil and natural gas development and production company. The Company is also engaged in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. Its operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States.
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