The stock of Earthstone Energy Inc. (NYSE:ESTE) increased by $0.17 on Tuesday to finish at $19.73, up 0.87 percent. The last five days have seen an average of 2,279,160 shares of common stock traded. 17 times new highs were reached in the current year, with a gain of $5.50. The average number of shares traded over the last 20 days was 3,020,170, while the average volume over the last 50 days totaled 1,870,906.
ESTE stock appreciated 23.47% since last month. On 08/03/23, the company’s shares reached a one-month low of $15.12. The stock touched a high of $19.94 on 08/29/23, after rallying from a low of $10.65 in 52 weeks. The price of ESTE stock has risen by 38.65% or $5.50 this year, reaching a new high 17 times. Still, the stock price is down -1.05% from the 52-week high.
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Insider Transactions
ESTE stock investors should be aware that Earthstone Energy Inc. (ESTE) stock had its last reported insider trading activity 29 days ago on Aug 01. On Aug 01, 10% Owner WP Energy Chisholm Holdings, L sold 5,000,000 shares at $14.52 each. This transaction resulted in the insider making $72,600,000. On Aug 01, Warburg Pincus Partners II (US sold 5,000,000 shares at a price of US$14.52. After the transaction, the insider now owns 7,868,234 shares. 10% Owner Warburg Pincus Private Equity had earlier sold 5,000,000 shares on Aug 01 for $14.52 a share. The transaction was completed for $72,600,000.
Valuation Metrics
Earthstone Energy Inc. (ESTE) has a trailing price-to-earnings (P/E) ratio of 4.63. Beta for the stock is 2.07. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.51, the price-to-book (PB) ratio of 1.19.
Financial Health
For the three months ended June 29, Earthstone Energy Inc.’s quick ratio was 0.60, while its current ratio was 0.60, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.58, and the total debt to equity ratio is 0.58. As far as profitability goes, gross margin for the trailing twelve months is 73.80% percent. Earthstone Energy Inc.’s EBITDA margin for the year ended June 29 was 74.62%, whereas its operating margin stood at 48.50% for the same period. Based on annual data, it had gross profit of $1.34 billion and revenue of $1.7 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ESTE’s return on assets (ROA) during the last 12 months has been 11.50%. There was a 31.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 27.70%.
Earnings Surprise
According to Earthstone Energy Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $370.01 million, while revenues fell by -27.71% to $413.14 million. It was predicted that Earthstone Energy Inc.’s quarterly earnings would be $0.53, but it ended up being $0.5, beating the consensus by 6.00%. EBITDA was $273.76 million for the quarter. At the end of Earthstone Energy Inc.’s most recent quarter ended June 29, its liabilities totaled 1.63 billion, while its total debt was $1.03 billion. Equity owned by shareholders amounts to $140.59 million.
Technical Picture
Here’s a quick look at Earthstone Energy Inc.’s (ESTE) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 80.85%, suggesting the stock is Overbought, with a 71.11% historical volatility rate.
The stochastic %K and %D were 91.06% and 87.40% respectively, while the average true range (ATR) was 0.73. Based on the 14-day stochastic reading of 94.40%, the RSI (14) reading is 77.09%. On the 9-day MACD Oscillator, the stock is at 0.96, and the 14-day reading is at 2.00.
Analyst Ratings
In its analyst report released on July 19, 2023, CapitalOne began covering Earthstone Energy Inc. (NYSE: ESTE). The stock was rated as an Overweight by the brokerage firm. Analysts have assigned Earthstone Energy Inc. (ESTE) an Overweight rating. ESTE is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 6 others recommend it as a buy.
What is ESTE’s price target for the next 12 months?
The current consensus forecast for the stock is between $18.00 and $31.00, with a median target price of $25.00. In analyzing these forecasts, the average price target given by analysts for Earthstone Energy Inc. (ESTE) is $24.89.
