BlackRock Inc. reduced its stake in Earthstone Energy Inc (NYSE:ESTE) by 2.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,010,510 shares of the oil and gas producer’s stock after selling 29,049 shares during the quarter. BlackRock Inc.’s holdings in Earthstone Energy were worth $9,479,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Earthstone Energy by 71.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 610,033 shares of the oil and gas producer’s stock valued at $5,398,000 after acquiring an additional 254,152 shares in the last quarter. Gradient Investments LLC lifted its position in Earthstone Energy by 46.1% in the 3rd quarter. Gradient Investments LLC now owns 156,512 shares of the oil and gas producer’s stock valued at $1,468,000 after acquiring an additional 49,366 shares in the last quarter. Investment Counselors of Maryland LLC bought a new stake in Earthstone Energy in the 3rd quarter valued at $10,623,000. Renaissance Technologies LLC lifted its position in Earthstone Energy by 364.9% in the 2nd quarter. Renaissance Technologies LLC now owns 347,400 shares of the oil and gas producer’s stock valued at $3,074,000 after acquiring an additional 272,680 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Earthstone Energy by 9.3% in the 2nd quarter. Northern Trust Corp now owns 248,541 shares of the oil and gas producer’s stock valued at $2,199,000 after acquiring an additional 21,186 shares in the last quarter. 20.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of ESTE stock opened at $6.11 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.05. Earthstone Energy Inc has a 1 year low of $4.21 and a 1 year high of $11.00. The firm has a market capitalization of $386.28 million, a price-to-earnings ratio of 4.27, a price-to-earnings-growth ratio of 0.27 and a beta of 1.69.

Earthstone Energy (NYSE:ESTE) last issued its quarterly earnings results on Wednesday, November 7th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Earthstone Energy had a net margin of 5.33% and a return on equity of 2.75%. The firm had revenue of $46.08 million for the quarter, compared to analyst estimates of $42.96 million. Research analysts expect that Earthstone Energy Inc will post 0.74 EPS for the current year.

ESTE has been the topic of several research reports. Stephens initiated coverage on shares of Earthstone Energy in a research report on Thursday, December 6th. They issued an “overweight” rating and a $11.00 price objective on the stock. ValuEngine raised shares of Earthstone Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 9th. SunTrust Banks set a $14.00 price target on shares of Earthstone Energy and gave the company a “buy” rating in a research note on Monday, October 22nd. Imperial Capital lifted their price target on shares of Earthstone Energy from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research upgraded shares of Earthstone Energy from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.31.

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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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