Earthstone Energy Inc (NASDAQ:ESTE) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday. The brokerage presently has a $16.00 price target on the stock, up from their previous price target of $11.00. Robert W. Baird’s price objective points to a potential upside of 10.73% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity set a $18.00 target price on Earthstone Energy and gave the stock a “buy” rating in a research note on Friday, November 11th. Seaport Global Securities raised Earthstone Energy from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $13.00 to $16.00 in a research note on Wednesday, November 9th. Finally, FBR & Co reissued an “outperform” rating and issued a $17.00 target price (up from $14.00) on shares of Earthstone Energy in a research note on Thursday, November 10th. Seven research analysts have rated the stock with a buy rating, Earthstone Energy currently has a consensus rating of “Buy” and an average target price of $16.17.

Analyst Recommendations for Earthstone Energy (NASDAQ:ESTE)

Shares of Earthstone Energy (NASDAQ:ESTE) opened at 14.45 on Monday. Earthstone Energy has a 52 week low of $7.67 and a 52 week high of $18.50. The company’s market capitalization is $321.84 million. The company has a 50-day moving average price of $10.11 and a 200-day moving average price of $10.66.

Several large investors have recently added to or reduced their stakes in ESTE. American Century Companies Inc. acquired a new stake in Earthstone Energy during the second quarter valued at approximately $3,787,000. Northpointe Capital LLC boosted its stake in Earthstone Energy by 73.3% in the second quarter. Northpointe Capital LLC now owns 560,778 shares of the company’s stock valued at $6,045,000 after buying an additional 237,116 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Earthstone Energy during the second quarter valued at approximately $797,000. Ameriprise Financial Inc. acquired a new stake in Earthstone Energy during the second quarter valued at approximately $2,822,000. Finally, Victory Capital Management Inc. acquired a new stake in Earthstone Energy during the second quarter valued at approximately $634,000.

About Earthstone Energy

Earthstone Energy, Inc is an independent oil and natural gas exploration and production company. The Company is focused on the acquisition, development, exploration and production of onshore, crude oil and natural gas reserves. The Company’s operations are in the upstream segment of the oil and natural gas industry, and are conducted onshore in the United States.

5 Day Chart for NASDAQ:ESTE

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