GW&K Investment Management LLC Decreases Position in Earthstone Energy, Inc. (NYSE:ESTE)

GW&K Investment Management LLC decreased its stake in Earthstone Energy, Inc. (NYSE:ESTE – Get Rating) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 773,925 shares of the oil and gas producer’s stock after selling 12,054 shares during the period. GW&K Investment Management LLC owned approximately 0.55% of Earthstone Energy worth $11,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ESTE. Ameritas Investment Partners Inc. boosted its position in shares of Earthstone Energy by 44.7% in the first quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 739 shares during the period. Ensign Peak Advisors Inc purchased a new position in Earthstone Energy in the third quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Earthstone Energy in the second quarter valued at about $67,000. Optimum Investment Advisors boosted its holdings in Earthstone Energy by 73.5% in the fourth quarter. Optimum Investment Advisors now owns 5,900 shares of the oil and gas producer’s stock valued at $84,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Earthstone Energy by 17.6% in the first quarter. Captrust Financial Advisors now owns 9,184 shares of the oil and gas producer’s stock valued at $116,000 after purchasing an additional 1,375 shares during the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.

Earthstone Energy Trading Down 4.8 %

NYSE:ESTE opened at $12.89 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $13.27 and its two-hundred day moving average is $13.82. Earthstone Energy, Inc. has a 52 week low of $10.65 and a 52 week high of $22.25. The company has a market cap of $1.81 billion, a PE ratio of 2.50 and a beta of 2.07.

Earthstone Energy (NYSE:ESTE – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $413.14 million for the quarter, compared to analysts’ expectations of $391.95 million. Earthstone Energy had a return on equity of 28.38% and a net margin of 28.58%. The business’s quarterly revenue was up 110.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. On average, analysts predict that Earthstone Energy, Inc. will post 4.16 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on ESTE. StockNews.com began coverage on Earthstone Energy in a report on Thursday, May 18th. They issued a “hold” rating for the company. Stephens began coverage on Earthstone Energy in a report on Monday, April 24th. They issued an “overweight” rating and a $18.00 price target for the company. Benchmark reissued a “buy” rating and issued a $30.00 price target on shares of Earthstone Energy in a report on Thursday, March 9th. Mizuho reduced their price target on Earthstone Energy from $19.00 to $18.00 in a report on Friday, May 19th. Finally, Truist Financial increased their target price on Earthstone Energy from $23.00 to $30.00 in a report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.67.

Insider Transactions at Earthstone Energy

In related news, CEO Robert John Anderson purchased 5,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were acquired at an average cost of $11.45 per share, for a total transaction of $57,250.00. Following the transaction, the chief executive officer now owns 811,009 shares of the company’s stock, valued at $9,286,053.05. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 40.67% of the company’s stock.

About Earthstone Energy

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Earthstone Energy, Inc is a growth-oriented independent oil and gas company. The firm is engaged in the acquisition and development of oil and gas reserves through activities that include drilling and development of undeveloped leases, as well as asset and corporate acquisitions and mergers. It also focuses on the Midland Basin in West Texas, the Eagle Ford Trend in South Texas and the Delaware Basin in New Mexico.