Earthstone Energy (ESTE) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Earthstone Energy (NYSE:ESTE) from a hold rating to a buy rating in a research note released on Monday morning. They currently have $13.00 target price on the oil and gas producer’s 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. “
ESTE has been the subject of several other research reports. Northland Securities reiterated a buy rating and issued a $18.00 price objective on shares of Earthstone Energy in a research note on Tuesday, September 26th. ValuEngine lowered shares of Earthstone Energy from a buy rating to a hold rating in a research note on Sunday, December 31st. BidaskClub upgraded shares of Earthstone Energy from a hold rating to a buy rating in a research note on Tuesday, September 26th. Robert W. Baird reiterated a buy rating on shares of Earthstone Energy in a research note on Sunday, September 17th. Finally, Roth Capital set a $16.00 price objective on shares of Earthstone Energy and gave the company a buy rating in a research note on Monday, October 30th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $14.55.
Several large investors have recently added to or reduced their stakes in ESTE. Citadel Advisors LLC bought a new stake in shares of Earthstone Energy in the 2nd quarter valued at $105,000. New York State Common Retirement Fund increased its stake in Earthstone Energy by 849.2% during the 2nd quarter. New York State Common Retirement Fund now owns 11,400 shares of the oil and gas producer’s stock valued at $114,000 after purchasing an additional 10,199 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in Earthstone Energy during the 2nd quarter valued at $120,000. Brandywine Global Investment Management LLC bought a new stake in Earthstone Energy during the 2nd quarter valued at $122,000. Finally, Rhumbline Advisers bought a new stake in Earthstone Energy during the 3rd quarter valued at $135,000. Institutional investors own 13.41% of the company’s stock.
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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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