Columbia Pacific Advisors LLC Purchases New Stake in Earthstone Energy Inc (ESTE)
Columbia Pacific Advisors LLC acquired a new stake in shares of Earthstone Energy Inc (NASDAQ:ESTE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 133,530 shares of the company’s stock, valued at approximately $1,337,000. Earthstone Energy comprises 1.5% of Columbia Pacific Advisors LLC’s holdings, making the stock its 15th largest position. Columbia Pacific Advisors LLC owned about 0.58% of Earthstone Energy at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESTE. Schwab Charles Investment Management Inc. acquired a new position in shares of Earthstone Energy in the 2nd quarter valued at about $187,000. Northpointe Capital LLC boosted its stake 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. Bank of New York Mellon Corp boosted its stake in shares of Earthstone Energy by 153.2% in the second quarter. Bank of New York Mellon Corp now owns 42,661 shares of the company’s stock worth $427,000 after buying an additional 25,813 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Earthstone Energy by 4.8% in the second quarter. Victory Capital Management Inc. now owns 107,586 shares of the company’s stock worth $1,077,000 after buying an additional 4,910 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake 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.
In related news, EVP Robert John Anderson sold 15,000 shares of the stock in a transaction on Friday, July 14th. The stock was 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 of the company’s stock, valued at $856,130. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Several research firms recently commented on ESTE. BidaskClub raised Earthstone Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Roth Capital set a $19.00 price target on Earthstone Energy and gave the company a “buy” rating in a research report on Wednesday, July 19th. Northland Securities reissued a “buy” rating and issued a $18.00 price target on shares of Earthstone Energy in a report on Tuesday, September 26th. Imperial Capital began coverage on Earthstone Energy in a report on Tuesday, August 1st. They issued an “outperform” rating and a $13.00 price target for the company. Finally, Robert W. Baird restated a “buy” rating on shares of Earthstone Energy in a research report on Sunday, September 17th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Earthstone Energy currently has an average rating of “Buy” and a consensus target price of $14.50.
Earthstone Energy Inc (NASDAQ:ESTE) traded down 1.30% during mid-day trading on Wednesday, reaching $10.62. 14,659 shares of the company traded hands. Earthstone Energy Inc has a 52 week low of $8.02 and a 52 week high of $15.70. The stock’s 50 day moving average price is $10.07 and its 200 day moving average price is $11.22. The firm’s market capitalization is $243.21 million.
Earthstone Energy 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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