Earthstone Energy (ESTE) Gets a Buy Rating from RBC Capital


RBC Capital analyst Brad Heffern maintained a Buy rating on Earthstone Energy (ESTE) on October 16 and set a price target of $5.00. The company’s shares closed last Friday at $2.73.

According to TipRanks.com, Heffern has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -3.9% and a 36.0% success rate. Heffern covers the Utilities sector, focusing on stocks such as Continental Resources, Par Pacific Holdings, and Marathon Petroleum.

Earthstone Energy has an analyst consensus of Strong Buy, with a price target consensus of $4.67.

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Based on Earthstone Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $21.66 million and GAAP net loss of $16.34 million. In comparison, last year the company earned revenue of $44.54 million and had a net profit of $8.78 million.

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Earthstone Energy, Inc. engages in the acquisition, exploration, development, and production of oil and gas preserves. Its primary assets are located in the Midland Basin of west Texas and the Eagle Ford Trend of south Texas. The company was founded on July 7, 1969 and is headquartered in the The Woodlands, TX.

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