Earthstone Energy (NYSE:ESTE) Rating Change
In an analyst report released on Tuesday morning, expert analysts at Seaport Global Securities’s equity research division upgraded Earthstone Energy (NYSE:ESTE)’s stock from Neutral to Buy. They have a target price of $11.0 on ESTE or 36.65 % more upside.
In spite of the stock upgrade NYSE:ESTE is now trading -1.27% lower at $10.13 as of 2:04 PM New York time. Earthstone Energy shares have [From2] 0% over the last 200 days, while the Standard & Poor’s 500 index has gained 6.00% for the same time.
According to data compiled by Thomson Reuters, Earthstone Energy (NYSE:ESTE)’s stock is covered by 13 equity analysts across the Street, with 0 analysts giving it a Sell rating, 13 a Buy rating, while 1 consider it a Hold. The 12-month consensus target price for the stock is $16.15, which reflects an upside potential of 59.43% over the current price.
Earthstone Energy (NYSE:ESTE) 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.
Earthstone Energy (NYSE:ESTE) traded down -1.27% on 5 December, hitting $10.13. A total of 973,815 shares of the company’s stock traded hands. This is up from average of 90,095 shares. Earthstone Energy has a 52 week low of $7.67 and a 52 week high of $15.7. The company has a market cap of $231.99 million and a P/E ratio of 0.
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The post Earthstone Energy (NYSE:ESTE) Was Given Buy Rating by Analysts at Seaport Global Securities. No longer has Neutral Rating. The Target Price per Share is $11.0 appeared first on Octafinance.