In a report released yesterday, Neal Dingmann from SunTrust Robinson reiterated a Buy rating on Earthstone Energy (NYSE MKT: ESTE), with a price target of $13. The company’s shares closed yesterday at $8.45, close to its 52-week low of $7.80.
According to TipRanks.com, Dingmann is a 3-star analyst with an average return of 2.7% and a 51.3% success rate. Dingmann covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Sanchez Energy Corporation.
Currently, the analyst consensus on Earthstone Energy is a Strong Buy with an average price target of $13.40, which is a 58.6% upside from current levels. In a report released yesterday, Imperial Capital also maintained a Buy rating on the stock with a $10 price target.
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Based on Earthstone Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $650K. In comparison, last year the company had a GAAP net loss of $17.12 million.
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Earthstone Energy, Inc. engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. Its primary assets are located in the Midland Basin of West Texas, the Eagle Ford trend of south Texas, and the Williston Basin of North Dakota. The company was founded on July 7, 1969 and is headquartered in the Woodlands, TX.
