Gradient Investments LLC increased its holdings in Earthstone Energy Inc (NYSE:ESTE) by 46.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,512 shares of the oil and gas producer’s stock after acquiring an additional 49,366 shares during the quarter. Gradient Investments LLC owned approximately 0.24% of Earthstone Energy worth $1,468,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ESTE. Wells Fargo & Company MN increased its holdings in shares of Earthstone Energy by 1.9% in the 1st quarter. Wells Fargo & Company MN now owns 880,741 shares of the oil and gas producer’s stock valued at $8,913,000 after acquiring an additional 16,625 shares during the period. Prudential Financial Inc. acquired a new position in shares of Earthstone Energy in the 1st quarter valued at $323,000. Dimensional Fund Advisors LP increased its holdings in shares of Earthstone Energy by 59.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 355,881 shares of the oil and gas producer’s stock valued at $3,602,000 after acquiring an additional 132,107 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Earthstone Energy in the 1st quarter valued at $458,000. Finally, Millennium Management LLC increased its holdings in shares of Earthstone Energy by 10.0% in the 1st quarter. Millennium Management LLC now owns 379,311 shares of the oil and gas producer’s stock valued at $3,839,000 after acquiring an additional 34,483 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of ESTE opened at $8.96 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $600.11 million, a price-to-earnings ratio of 6.21, a PEG ratio of 0.42 and a beta of 1.34. Earthstone Energy Inc has a 1 year low of $7.45 and a 1 year high of $12.16.

Earthstone Energy (NYSE:ESTE) last announced its quarterly earnings data on Monday, August 6th. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.13). The firm had revenue of $37.15 million during the quarter, compared to analyst estimates of $39.19 million. Earthstone Energy had a net margin of 6.79% and a return on equity of 2.47%. As a group, equities research analysts expect that Earthstone Energy Inc will post 0.74 EPS for the current year.

A number of equities analysts have recently commented on ESTE shares. ValuEngine cut shares of Earthstone Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 25th. Royal Bank of Canada began coverage on shares of Earthstone Energy in a research note on Monday, July 9th. They issued an “outperform” rating on the stock. Imperial Capital dropped their price objective on shares of Earthstone Energy from $14.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 8th. Northland Securities set a $14.00 price objective on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, SunTrust Banks set a $13.00 price objective on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $13.44.

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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Institutional Ownership by Quarter for Earthstone Energy (NYSE:ESTE)

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