Earthstone Energy Inc (ESTE) Stake Boosted by Victory Capital Management Inc.
Victory Capital Management Inc. increased its holdings in Earthstone Energy Inc (NASDAQ:ESTE) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,586 shares of the company’s stock after acquiring an additional 4,910 shares during the period. Victory Capital Management Inc. owned about 0.48% of Earthstone Energy worth $1,077,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in ESTE. Northpointe Capital LLC grew its holdings in Earthstone Energy by 25.3% during the second quarter. Northpointe Capital LLC now owns 696,861 shares of the company’s stock valued at $6,976,000 after purchasing an additional 140,858 shares during the period. Bank of New York Mellon Corp grew its holdings in Earthstone Energy by 153.2% during the second quarter. Bank of New York Mellon Corp now owns 42,661 shares of the company’s stock valued at $427,000 after purchasing an additional 25,813 shares during the period. Finally, Schwab Charles Investment Management Inc. bought a new position in Earthstone Energy during the second quarter valued at $187,000.
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In other Earthstone Energy news, EVP Robert John Anderson sold 15,000 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. Following the completion of the sale, the executive vice president now directly owns 85,613 shares in the company, valued at approximately $856,130. The sale was disclosed in a document filed with the SEC, which is available through this link.
Earthstone Energy Inc (NASDAQ:ESTE) opened at 10.13 on Friday. The company’s market capitalization is $231.99 million. Earthstone Energy Inc has a 12-month low of $7.67 and a 12-month high of $15.70. The stock has a 50 day moving average price of $9.60 and a 200-day moving average price of $11.39.
Several equities analysts have weighed in on ESTE shares. Seaport Global Securities lowered Earthstone Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $17.00 to $11.00 in a report on Wednesday, June 21st. Zacks Investment Research lowered Earthstone Energy from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Northland Securities set a $18.00 price objective on Earthstone Energy and gave the company a “buy” rating in a report on Monday, July 17th. Roth Capital set a $19.00 price objective on Earthstone Energy and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, Imperial Capital started coverage on Earthstone Energy in a report on Tuesday, August 1st. They set an “outperform” rating and a $13.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.50.
About Earthstone Energy
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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