Zacks Investment Research downgraded shares of Earthstone Energy (NYSE:ESTE) from a buy rating to a hold rating in a report published on Tuesday morning.

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. “

Several other research analysts have also recently commented on the company. ValuEngine cut Earthstone Energy from a buy rating to a hold rating in a research note on Sunday, December 31st. Robert W. Baird restated an outperform rating and set a $13.00 price objective (down previously from $14.00) on shares of Earthstone Energy in a research note on Monday, December 18th. Northland Securities set a $14.00 price objective on Earthstone Energy and gave the company a buy rating in a research note on Monday, December 11th. Seaport Global Securities upgraded Earthstone Energy from a neutral rating to a buy rating and set a $11.00 price objective on the stock in a research note on Tuesday, December 5th. Finally, Wells Fargo & Co started coverage on Earthstone Energy in a research note on Thursday, November 30th. They set an outperform rating and a $12.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Earthstone Energy has a consensus rating of Buy and a consensus target price of $14.55.

Earthstone Energy (NYSE ESTE) traded up $0.31 during trading hours on Tuesday, hitting $11.71. The company had a trading volume of 176,128 shares, compared to its average volume of 174,769. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.59 and a current ratio of 0.59. Earthstone Energy has a fifty-two week low of $7.85 and a fifty-two week high of $15.50. The firm has a market capitalization of $744.28, a PE ratio of -5.50 and a beta of 1.42.

A number of hedge funds and other institutional investors have recently made changes to their positions in ESTE. Wells Fargo & Company MN raised its stake in Earthstone Energy by 126,489.0% during the second quarter. Wells Fargo & Company MN now owns 854,476 shares of the oil and gas producer’s stock valued at $8,553,000 after buying an additional 853,801 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Earthstone Energy by 84.9% during the second quarter. Vanguard Group Inc. now owns 520,807 shares of the oil and gas producer’s stock valued at $5,214,000 after purchasing an additional 239,193 shares during the last quarter. Columbia Pacific Advisors LLC bought a new position in shares of Earthstone Energy during the second quarter valued at approximately $1,337,000. Ameriprise Financial Inc. grew its holdings in shares of Earthstone Energy by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 388,040 shares of the oil and gas producer’s stock valued at $3,884,000 after purchasing an additional 94,469 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Earthstone Energy by 232.1% during the second quarter. Northern Trust Corp now owns 109,208 shares of the oil and gas producer’s stock valued at $1,093,000 after purchasing an additional 76,326 shares during the last quarter. Hedge funds and other institutional investors own 13.41% of the company’s stock.

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Earthstone Energy Company 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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