Earthstone Energy Inc (ESTE) announced its most recent quarterly financial results on Wednesday, Mar-15-2017. ESTE reported $-1.48 earnings per share for the quarter, missing the analyst consensus estimate by $-1.41. Analysts had a consensus of $-0.07. The company posted revenue of $15.15 million in the period, compared to analysts expectations of $14.92 million. ESTE’s revenue was up 84.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-8.42 EPS.
Based on several research reports , Shares were Reiterated by FBR & Co. on Feb 14, 2017 to “Outperform” and Lowered the Price Target to $ 17 from a previous price target of $18 .Seaport Global Securities Upgraded Earthstone Energy Inc on Jan 31, 2017 to ” Buy”, Price Target of the shares are set at $17.Earthstone Energy Inc was Initiated by Iberia to “Outperform” on Jan 18, 2017. Company shares were Reiterated by FBR & Co. on Dec 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 18 from a previous price target of $17 .
Several company insiders have filed Insider transactions , on Jun 22, 2016, Ray J Jr Singleton (EVP) purchased 9,500 shares at $10.50 per share price. According to the SEC, on Jun 22, 2016, Frank Alan Lodzinski (CEO) purchased 24,500 shares at $10.50 per share price. On Jan 19, 2016, Jay Frederick Joliat (director) purchased 10,000 shares at $11.72 per share price, according to the Form-4 filing with the securities and exchange commission.
Earthstone Energy Inc opened for trading at $11.5 and hit $12.8 on the upside on Wednesday, eventually ending the session at $12.39, with a gain of 7.74% or 0.89 points. The heightened volatility saw the trading volume jump to 52,417 shares. Company has a market cap of $276 M.
Earthstone Energy Inc. is an independent oil and gas exploration and production company primarily engaged in the exploration development and production of oil and natural gas properties. Its operating activities are concentrated in the North Dakota and Montana portions of the Williston Basin and south Texas. As of March 31 2014 the Companys estimated net proved oil and natural gas reserves were approximately 2554000 barrels of oil and condensate and approximately 3413000 thousand cubic feet of natural gas. In addition to the Williston Basin the Company is pursuing a new exploration project in the Nebraska portion of the Denver-Julesburg (DJ) basin. The Williston basin continues to be the Company’s highest area of activity.