Investors Should Take Note Of Earthstone Energy Inc. (ESTE)

Ranger Investment Management LP has recently announced that it has increased stake in Earthstone Energy Inc. (NYSE:ESTE) by 19.78%. After grabbing 3.44 million shares, the institutional investor is now in possession of 0.57 million shares of the Energy Company. The new investment brought the stake of investor firm to 3.24% having worth around $46.6 million. Moreover, Macquarie Investment Management B increased its share by 0.21 million to have a control over 2.89 million shares. And American Century Investment Manag raised its holdings to 0.69 million shares by acquiring 2.79 million shares or 2.63% of the stake.

Earthstone Energy Inc. (ESTE) concluded trading on 05/25/23 at a closing price of $12.89, with 1.16 million shares of worth about $15.0 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -20.63% during that period and on Thursday the price saw a loss of about -4.80%. Currently the company’s common shares owned by public are about 105.97M shares, out of which, 74.81M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the ESTE stock and their offered price forecasts bring an average price target of $24.43. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $31.00 and could fall to a lowest price of $18.00. The stock’s current price level is 49.03% above of average price target set by the analysts, while a rise to estimated low would result in gain of 28.39% for the stock. However, touching the estimated high of $31.00 would mean a gain of 58.42% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 61 times over the past 12 months. They bought 28,415,977 shares in 24 of the transactions. In 37 selling transactions, insiders dumped 54,361,161 shares.

SPDR S&P Oil & Gas Exploration &, Delaware Small Cap Core Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Earthstone Energy Inc. SPDR S&P Oil & Gas Exploration & is currently holding 2.39 million shares of worth totaling $32.47 million. The company recently came buying 43970.0 shares which brought its stake up to 2.26% of the company’s outstanding shares. Delaware Small Cap Core Fund bought 0.18 million shares, after which its hold over company’s outstanding shares expand to 2.19%, leaving 2.33 million shares with the mutual fund that have a worth of about $31.59 million. Vanguard Total Stock Market ETF, after buying 1.94 million shares, have now control over 1.83% of the stake in the company. It holds 0.0 shares of worth $26.36 million.

Earthstone Energy Inc. (NYSE: ESTE) started trading at $13.20, below -$0.34 from concluding price of the previous day. However, the stock later moved at a day high price of 13.24, or with a loss of -4.80%. Stock saw a price change of 0.86% in past 5 days and over the past one month there was a price change of 0.39%. Year-to-date (YTD), ESTE shares are showing a performance of -9.42% which decreased to -21.97% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $10.65 but also hit the highest price of $22.25 during that period. The average intraday trading volume for Earthstone Energy Inc. shares is 1.32 million. The stock is currently trading -0.70% below its 20-day simple moving average (SMA20), while that difference is down -2.43% for SMA50 and it goes to -8.11% lower than SMA200.

Ranger Investment Management LP acquired 3.44 million shares of Earthstone Energy Inc. having value of about $46.6 million. Data submitted at the U.S SEC by Ranger Investment Management LP revealed that the firm now holds 0.57 million shares in the company valued at close to $7314069.58, or have control over 19.78% stake in the company. Earthstone Energy Inc. (NYSE: ESTE) currently have 105.97M outstanding shares and institutions hold larger chunk of about 91.40% of that. Holding of mutual funds in the company is about 22.32% while other institutional holders and individual stake holders have control over 31.37% and 20.52% of the stake respectively.

The stock has a current market capitalization of $1.79B and its 3Y-monthly beta is at 2.09. PE ratio of stock for trailing 12 months is 2.49, while it has posted earnings per share of $5.18 in the same period. Its PEG reads 0.07 and has Quick Ratio of 0.50 while making debt-to-equity ratio of 0.59. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ESTE, volatility over the week remained 3.91% while standing at 4.55% over the month.

Analysts are in expectations that Earthstone Energy Inc. (ESTE) stock would likely to be making an EPS of $0.74 in the current quarter, while forecast for next quarter EPS is $0.86 and it is $4.06 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.52 which is $1.01 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.29 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 579.40% while it is estimated to increase by 22.01% in next year. EPS is likely to shrink at an annualized rate of 35.00% for next 5-years, compared to annual growth of 92.10% made by the stock over the past 5-years.

Analysts at 6 brokerage firms have issued recommendations for the Earthstone Energy Inc. (ESTE)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 6 Wall Street analysts, 4 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.