Register Financial Advisors LLC increased its position in shares of Earthstone Energy, Inc. (NYSE:ESTE – Free Report) by 54.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,200 shares of the oil and gas producer’s stock after buying an additional 16,200 shares during the quarter. Register Financial Advisors LLC’s holdings in Earthstone Energy were worth $601,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Earthstone Energy by 56.8% during 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 acquiring an additional 796 shares during the period. Ameritas Investment Partners Inc. lifted its position in Earthstone Energy by 44.7% during 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 during the period. Ensign Peak Advisors Inc acquired a new stake in Earthstone Energy during the 3rd quarter worth approximately $34,000. Clear Street Markets LLC acquired a new stake in Earthstone Energy during the 4th quarter worth approximately $56,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Earthstone Energy during the 2nd quarter worth approximately $67,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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Analysts Set New Price Targets

A number of analysts have weighed in on the company. Benchmark increased their price objective on Earthstone Energy from $23.00 to $29.00 in a research report on Friday, June 16th. Capital One Financial started coverage on Earthstone Energy in a report on Wednesday, July 19th. They issued an “overweight” rating and a $27.00 price target for the company. StockNews.com started coverage on Earthstone Energy in a report on Thursday. They issued a “hold” rating for the company. Stephens reissued an “overweight” rating and issued a $21.00 price target on shares of Earthstone Energy in a report on Wednesday, July 19th. Finally, Truist Financial reduced their price objective on Earthstone Energy from $31.00 to $24.00 in a report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Earthstone Energy has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Earthstone Energy Price Performance

Earthstone Energy stock traded up $0.01 during mid-day trading on Friday, hitting $15.70. 151,721 shares of the company were exchanged, compared to its average volume of 1,332,303. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.55 and a quick ratio of 0.55. The business’s 50 day simple moving average is $14.69 and its two-hundred day simple moving average is $13.78. The company has a market capitalization of $2.21 billion, a P/E ratio of 3.70 and a beta of 2.11. Earthstone Energy, Inc. has a 12-month low of $10.65 and a 12-month high of $17.54.

Earthstone Energy (NYSE:ESTE – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $370.01 million for the quarter, compared to analysts’ expectations of $350.15 million. Earthstone Energy had a return on equity of 22.08% and a net margin of 25.40%. The business’s quarterly revenue was down 21.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. Analysts forecast that Earthstone Energy, Inc. will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 stock was sold at an average price of $14.52, for a total value 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 $114,246,757.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.30% of the stock is currently owned by company insiders.

Earthstone Energy Profile

(Free Report)

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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