Northland Securities Thinks Earthstone Energy’s Stock is Going to Recover

In a report released today, Jeff Grampp from Northland Securities maintained a Buy rating on Earthstone Energy (ESTE), with a price target of $8. The company’s shares closed yesterday at $3.57, close to its 52-week low of $3.43.

According to, Grampp has 0 stars on 0-5 star ranking scale with an average return of -17.9% and a 18.7% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Earthstone Energy with a $8.33 average price target.

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Based on Earthstone Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $17.2 million. In comparison, last year the company had a net profit of $650K.

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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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