Fintel reports that on July 19, 2023, Capital One initiated coverage of Earthstone Energy Inc - (NYSE:ESTE) with a Overweight recommendation.
Analyst Price Forecast Suggests 73.73% Upside
As of July 6, 2023, the average one-year price target for Earthstone Energy Inc - is 25.94. The forecasts range from a low of 18.18 to a high of $32.55. The average price target represents an increase of 73.73% from its latest reported closing price of 14.93.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Earthstone Energy Inc - is 2,002MM, an increase of 4.70%. The projected annual non-GAAP EPS is 5.69.
What is the Fund Sentiment?
There are 374 funds or institutions reporting positions in Earthstone Energy Inc -. This is a decrease of 8 owner(s) or 2.09% in the last quarter. Average portfolio weight of all funds dedicated to ESTE is 0.40%, an increase of 23.72%. Total shares owned by institutions increased in the last three months by 0.04% to 104,787K shares. 
The put/call ratio of ESTE is 0.74, indicating a bullish outlook.
What are Other Shareholders Doing?
EnCap Energy Capital Fund XI holds 19,820K shares representing 18.66% ownership of the company. No change in the last quarter.
Warburg Pincus holds 11,379K shares representing 10.72% ownership of the company. No change in the last quarter.
Post Oak Energy Holdings holds 11,167K shares representing 10.52% ownership of the company. No change in the last quarter.
OnyxPoint Global Management holds 5,575K shares representing 5.25% ownership of the company. In it's prior filing, the firm reported owning 5,463K shares, representing an increase of 2.01%. The firm decreased its portfolio allocation in ESTE by 59.89% over the last quarter.
Ranger Investment Management holds 3,437K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 2,869K shares, representing an increase of 16.51%. The firm decreased its portfolio allocation in ESTE by 1.14% over the last quarter.
Earthstone Energy Background Information
(This description is provided by the company.)
Earthstone Energy, Inc. is a growth-oriented, independent energy company engaged in the development and operation of oil and natural gas properties. Its primary assets are located in the Midland Basin of west Texas and the Eagle Ford Trend of south Texas.
Additional reading:
- TO CREDIT AGREEMENT Dated as of July 7, 2023 EARTHSTONE ENERGY HOLDINGS, LLC, as Borrower, EARTHSTONE ENERGY, INC., as Parent, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and Issuing Bank, ROYAL BANK OF CANADA, as Syndication Agen
- $500,000,000 Earthstone Energy Holdings, LLC 9.875% Senior Notes due 2031 PURCHASE AGREEMENT
- EARTHSTONE ENERGY HOLDINGS, LLC, THE GUARANTORS PARTY HERETO U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION AS TRUSTEE Dated as of June 30, 2023 9.875% Senior Notes due 2031 TABLE OF CONTENTS
- Earthstone Energy Announces Pricing of Private Offering of $500 Million of Senior Unsecured Notes due 2031
- UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION (BASIS OF PRESENTATION DESCRIBED IN NOTE 1)
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
