Earthstone Energy Inc. (NYSE:ESTE) price on Friday, March 17, fall -2.09% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $11.72.
A look at the stock’s price movement, the close in the last trading session was $11.97, moving within a range at $11.32 and $11.89. The beta value (5-Year monthly) was 2.08 while the PE ratio in trailing twelve months stood at 3.35. Turning to its 52-week performance, $22.25 and $10.65 were the 52-week high and 52-week low respectively. Overall, ESTE moved -12.99% over the past month.
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Earthstone Energy Inc.’s market cap currently stands at around $1.67 billion, with investors looking forward to this quarter’s earnings report slated for May 02, 2023 – May 08, 2023. Analysts project the company’s earnings per share (EPS) to be $1.32, which has seen fiscal year 2022 EPS growth forecast to increase to $5 and about $5.11 for fiscal year 2023. Per the data, EPS growth is expected to be 300.00% for 2023 and 2.20% for the next financial year.
Analysts have a consensus estimate of $459.14 million for the company’s revenue for the quarter, with a low and high estimate of $442.3 million and $483.53 million respectively. The average forecast suggests up to a 218.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $1.67 billion, representing a 297.20% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that ESTE is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 3 recommend ESTE as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 0.10, with ESTE’s current price about -13.42% and -14.06% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 34.62, while 7-day volatility ratio is 6.86% and 5.35% in the 30-day chart. Further, Earthstone Energy Inc. (ESTE) has a beta value of 2.10, and an average true range (ATR) of 0.77. Analysts have given the company’s stock an average 52-week price target of $25.33, forecast between a low of $19.00 and high of $31.00. Looking at the price targets, the low is -62.12% off current price level while to achieve the yearly target high, price needs to move -164.51%. Nonetheless, investors will most likely welcome a -117.58% jump to $25.50 which is the analysts’ median price.
In the market, a comparison of Earthstone Energy Inc. (ESTE) and its peers suggest the former has performed considerably weaker. Data shows ESTE’s intraday price has changed -2.09% in last session and -4.48% over the past year. Comparatively, Northern Oil and Gas Inc. (NOG) has moved -2.08% on the day and only 6.63% in the past 12 months. Looking at another peer, we see that Marathon Oil Corporation (MRO) price has dipped -3.68% on the day. However, the stock is -1.81% off its price a year ago. Moreover, SM Energy Company (SM) is also down -5.80% in trading on the day while keeping a a downtrend of -29.41% over the past year. If we look at the PE ratio, we find that Earthstone Energy Inc.’s ratio stands at 3.35 compared to Northern Oil and Gas Inc.’s 3.25 and Marathon Oil Corporation’s 4.09. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.
If we refocus on Earthstone Energy Inc. (NYSE:ESTE), historical trading data shows that trading volumes averaged 1.79 million over the past 10 days and 1.41 million over the past 3 months. The company’s latest data on shares outstanding shows there are 105.94 million shares.
The 1.40% of Earthstone Energy Inc.’s shares are in the hands of company insiders while institutional holders own 91.40% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 10.1 million on Jan 30, 2023, giving us a short ratio of 8.05. The data shows that as of Jan 30, 2023 short interest in Earthstone Energy Inc. (ESTE) stood at 9.58% of shares outstanding, with shares short falling to 10.19 million registered in Dec 29, 2022. Current price change has pushed the stock -17.64% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ESTE stock continues to rise going into the next quarter.
