Earthstone Energy Inc. (NYSE: ESTE) stock fell -1.32% on Monday to $19.46 against a previous-day closing price of $19.72. With 1.01 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.89 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $20.11 whereas the lowest price it dropped to was $19.38. The 52-week range on ESTE shows that it touched its highest point at $21.98 and its lowest point at $10.65 during that stretch. It currently has a 1-year price target of $25.43. Beta for the stock currently stands at 2.10.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ESTE was down-trending over the past week, with a drop of -3.62%, but this was up by 24.03% over a month. Three-month performance surged to 42.46% while six-month performance rose 66.04%. The stock gained 27.27% in the past year, while it has gained 36.75% so far this year. A look at the trailing 12-month EPS for ESTE yields 4.26 with Next year EPS estimates of 3.89. For the next quarter, that number is 0.71. This implies an EPS growth rate of 579.40% for this year and 31.68% for next year. EPS is expected to grow by 35.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 92.10%.
Float and Shares Shorts:
At present, 106.21 million ESTE shares are outstanding with a float of 74.58 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.49 million, which was 3.28% higher than short shares on Jul 30, 2023. In addition to Mr. Frank A. Lodzinski as the firm’s Exec. Chairman, Mr. Robert J. Anderson serves as its Pres, CEO & Director.
Institutional Ownership:
Through their ownership of 91.07% of ESTE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 26.53% of ESTE, in contrast to 22.63% held by mutual funds. Shares owned by individuals account for 21.61%. As the largest shareholder in ESTE with 3.33% of the stake, Ranger Investment Management LP holds 3,544,981 shares worth 3,544,981. A second-largest stockholder of ESTE, BlackRock Fund Advisors, holds 3,293,413 shares, controlling over 3.10% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in ESTE, holding 3,123,123 shares or 2.94% stake. With a 2.27% stake in ESTE, the Delaware Small Cap Core Fund is the largest stakeholder. A total of 2,407,923 shares are owned by the mutual fund manager. The SPDR S&P Oil & Gas Exploration &, which owns about 1.86% of ESTE stock, is the second-largest Mutual Fund holder. It holds 1,976,399 shares valued at 40.28 million. Vanguard Total Stock Market ETF holds 1.83% of the stake in ESTE, owning 1,944,086 shares worth 39.62 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ESTE reported revenue of $472.55M and operating income of $306.59M. The EBITDA in the recently reported quarter was $373.31M and diluted EPS was $1.46.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ESTE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ESTE analysts setting a high price target of $31.00 and a low target of $18.00, the average target price over the next 12 months is $24.00. Based on these targets, ESTE could surge 59.3% to reach the target high and fall by -7.5% to reach the target low. Reaching the average price target will result in a growth of 23.33% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ESTE stock several times over the past three months with 0 Buys and 9 Sells. In these transactions, 0 shares were bought while 20,021,890 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 36 over the past year. The total number of shares bought during that period was 3,165,115 while 47,532,886 shares were sold.
