Earthstone Energy Inc (ESTE) Price Target Cut to $16.00

Earthstone Energy Inc (AMEX:ESTE) had its price target decreased by equities researchers at FBR & Co from $17.00 to $16.00 in a research report issued to clients and investors on Friday. The firm presently has an “outperform” rating on the stock. FBR & Co’s price objective would suggest a potential upside of 22.23% from the company’s previous close.

ESTE has been the topic of several other reports. Iberia Capital started coverage on Earthstone Energy in a research report on Wednesday, January 18th. They issued an “outperform” rating and a $19.00 price objective on the stock. Canaccord Genuity set a $18.00 price target on Earthstone Energy and gave the company a “buy” rating in a report on Thursday, January 12th. Seaport Global Securities cut Earthstone Energy from a “buy” rating to an “accumulate” rating in a report on Friday, December 9th. Robert W. Baird raised Earthstone Energy from a “neutral” rating to an “outperform” rating and increased their price target for the company from $11.00 to $16.00 in a report on Monday, November 21st. Finally, Zacks Investment Research raised Earthstone Energy from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Earthstone Energy currently has a consensus rating of “Buy” and a consensus target price of $16.67.

Analyst Recommendations for Earthstone Energy (AMEX:ESTE)

Shares of Earthstone Energy (AMEX:ESTE) opened at 13.09 on Friday. Earthstone Energy has a 1-year low of $7.67 and a 1-year high of $15.93. The company’s 50-day moving average price is $13.13 and its 200 day moving average price is $11.88. The company’s market cap is $291.55 million.

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Institutional investors have recently added to or reduced their stakes in the stock. Oberweis Asset Management Inc. boosted its position in Earthstone Energy by 19.4% in the fourth quarter. Oberweis Asset Management Inc. now owns 69,253 shares of the company’s stock valued at $952,000 after buying an additional 11,253 shares during the last quarter. Amtrust Financial Services Inc. purchased a new position in Earthstone Energy during the fourth quarter valued at $1,420,000. Finally, Dimensional Fund Advisors LP purchased a new position in Earthstone Energy during the fourth quarter valued at $233,000.

About Earthstone Energy

Earthstone Energy, Inc is an independent oil and natural gas exploration and production company. The Company is focused on the acquisition, development, exploration and production of onshore, crude oil and natural gas reserves. The Company’s operations are in the upstream segment of the oil and natural gas industry, and are conducted onshore in the United States.

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