Equities research analysts expect Earthstone Energy Inc (NYSE:ESTE) to post $50.69 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Earthstone Energy’s earnings. The highest sales estimate is $57.00 million and the lowest is $46.30 million. Earthstone Energy posted sales of $35.68 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 42.1%. The company is expected to report its next quarterly earnings results on Wednesday, March 13th.

According to Zacks, analysts expect that Earthstone Energy will report full-year sales of $172.53 million for the current financial year, with estimates ranging from $164.70 million to $179.30 million. For the next financial year, analysts anticipate that the company will post sales of $213.40 million, with estimates ranging from $196.30 million to $235.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Earthstone Energy.

Earthstone Energy (NYSE:ESTE) last posted its quarterly earnings results on Wednesday, November 7th. The oil and gas producer reported $0.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Earthstone Energy had a return on equity of 2.75% and a net margin of 5.33%. The firm had revenue of $46.08 million during the quarter, compared to analysts’ expectations of $42.96 million.

ESTE has been the subject of a number of research reports. Imperial Capital reiterated an “outperform” rating and set a $8.00 price objective (down previously from $12.00) on shares of Earthstone Energy in a research report on Thursday, December 27th. Roth Capital set a $16.00 price objective on Earthstone Energy and gave the company a “buy” rating in a research report on Thursday, December 27th. ValuEngine upgraded Earthstone Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, October 19th. Zacks Investment Research cut Earthstone Energy from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, SunTrust Banks set a $14.00 price objective on Earthstone Energy and gave the company a “buy” rating in a research report on Monday, October 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.94.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc grew its holdings in Earthstone Energy by 0.7% during the third quarter. Vanguard Group Inc now owns 872,105 shares of the oil and gas producer’s stock valued at $8,180,000 after purchasing an additional 5,970 shares during the period. Marshall Wace LLP bought a new stake in Earthstone Energy during the third quarter valued at about $1,446,000. TIAA CREF Investment Management LLC grew its holdings in Earthstone Energy by 15.2% during the third quarter. TIAA CREF Investment Management LLC now owns 87,381 shares of the oil and gas producer’s stock valued at $820,000 after purchasing an additional 11,557 shares during the period. AQR Capital Management LLC bought a new stake in Earthstone Energy during the third quarter valued at about $137,000. Finally, Laurion Capital Management LP bought a new stake in Earthstone Energy during the third quarter valued at about $204,000. 20.88% of the stock is owned by institutional investors and hedge funds.

Shares of ESTE stock traded up $0.02 during mid-day trading on Friday, hitting $6.35. The company’s stock had a trading volume of 144,620 shares, compared to its average volume of 204,827. Earthstone Energy has a 52-week low of $4.21 and a 52-week high of $11.98. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $403.60 million, a P/E ratio of 4.44, a P/E/G ratio of 0.18 and a beta of 1.69.

About Earthstone Energy

Earthstone Energy, Inc, an oil and natural gas development and production company, operates in the up-stream segment of the oil and natural gas industry in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2017, the company operated 91 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 79,976 thousand barrels of oil equivalent (MBOE) of total proved reserves, 19,961 MBOE of proved developed reserves, and 60,015 MBOE of proved undeveloped reserves.

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Earnings History and Estimates for Earthstone Energy (NYSE:ESTE)

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