Earthstone Energy, Inc., an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States. The company's asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas. As of December 31, 2020, it operated 103 gross Eagle Ford wells; and 12 gross Austin Chalk wells, as well as had 78,875 thousand barrels of oil equivalent (MBOE) of total proved reserves comprised 38,298 MBOE of proved developed reserves and 40,577 MBOE of proved undeveloped reserves. The company was incorporated in 1969 and is headquartered in The Woodlands, Texas.
IPO Year:
Exchange: NYSE
Website: earthstoneenergy.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/19/2023 | $27.00 | Overweight | CapitalOne |
| 4/25/2023 | $18.00 | Overweight | Stephens |
| 1/10/2023 | $19.00 | Neutral | Mizuho |
| 7/6/2022 | $21.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 4/14/2022 | $15.00 | Equal-Weight | Stephens |
| 12/17/2021 | $11.00 → $12.00 | Underweight | Wells Fargo |
| 11/3/2021 | $15.00 | Buy | Benchmark |
| 11/3/2021 | $15.00 | Buy | The Benchmark Company |
| 8/23/2021 | $10.00 | Equal Weight → Underweight | Wells Fargo |
| 7/27/2021 | $6.50 → $17.00 | Outperform | Northland Capital |
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4 - EARTHSTONE ENERGY INC (0000010254) (Issuer)
4 - EARTHSTONE ENERGY INC (0000010254) (Issuer)
4 - EARTHSTONE ENERGY INC (0000010254) (Issuer)
4 - EARTHSTONE ENERGY INC (0000010254) (Issuer)
4 - EARTHSTONE ENERGY INC (0000010254) (Issuer)
THE WOODLANDS, Texas--(BUSINESS WIRE)--Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”) today announced that it has completed the previously announced acquisition of Independence Resources Management, LLC (“IRM”). The aggregate purchase price for the acquisition was approximately $182.0 million, consisting of $131.2 million in cash consideration and approximately 12.7 million shares of Earthstone’s Class A common stock valued at $50.8 million based on a closing share price of $3.99 on December 16, 2020. Management Commentary Mr. Robert J. Anderson, President and CEO of Earthstone, commented, “We are pleased to be able to begin 2021 with the completion of this s
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Earthstone Energy (NYSE:ESTE) reported quarterly adj earnings of $0.75 per share which missed the analyst consensus estimate of $0.77 by 2.6 percent. This is a 42.31 percent decrease over earnings of $1.30 per share from the same period last year. The company reported quarterly sales of $475.82 million which beat the analyst consensus estimate of $447.97 million by 6.22 percent. This is a 10.48 percent decrease over sales of $531.50 million the same period last year.
Mizuho analyst Nitin Kumar maintains Earthstone Energy (NYSE:ESTE) with a Neutral and raises the price target from $22 to $23.
Earthstone Energy (NYSE:ESTE) has observed the following analyst ratings within the last quarter: Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 3 4 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 2 0 0 2M Ago 0 2 1 0 0 3M Ago 2 1 0 0 0 According to 9 analyst offering 12-month price targets in the last 3 months, Earthstone Energy has an average price target of $23.67 with a high of $32.00 and a low of $19.00. Below is a summary of how these 9 analysts rated Earthstone Energy over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analy
Upgrades RBC Capital upgraded the previous rating for Equinox Gold Corp (AMEX:EQX) from Underperform to Sector Perform. In the second quarter, Equinox Gold showed an EPS of $0.02, compared to $0.16 from the year-ago quarter. The stock has a 52-week-high of $5.84 and a 52-week-low of $2.36. At the end of the last trading period, Equinox Gold closed at $4.75. According to B. Riley Securities, the prior rating for Bicycle Therapeutics PLC (NASDAQ:BCYC) was changed from Neutral to Buy. Bicycle Therapeutics earned $1.41 in the second quarter, compared to $0.90 in the year-ago quarter. The current stock performance of Bicycle Therapeutics shows a 52-week-high of $33.40 and a 52-week-low of $18.
Capital One analyst Brian Velie downgrades Earthstone Energy (NYSE:ESTE) from Overweight to Equal-Weight and announces $20 price target.
The Meaning Behind Value Stocks A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. Benzinga Insights has compiled a list of value stocks in the energy sector that may be worth watching: North European Oil (NYSE:NRT) - P/E: 3.43 Evolution Petroleum (AMEX:EPM) - P/E: 6.24 Earthstone Energy (NYSE:ESTE) - P/E: 4.24 HighPeak Energy (NASDAQ:HPK) - P/E: 6.5 Murphy Oil (NYSE:MUR) - P/E: 6.91 This quarter, North European Oil experienced a decrease in earnings per share, which was $1.05 in Q2
Susquehanna analyst Biju Perincheril reiterated a Neutral rating on Permian Resources Corporation (NYSE:PR), raising the price target from $11 to $14. Permian Resources announced a $4.5 billion acquisition of Earthstone Energy, Inc. (NYSE:ESTE) in an all-stock transaction. Perincheril thinks the deal increases PR's production profile by ~80% to 300 Mboe/d and is accretive across all metrics. Following the deal, the analyst is currently forecasting an 11% increase to FCF/sh in 2024. The transaction more than doubles its net acreage position. However, only about 25% of the land package is near Permian's existing position in the Delaware Basin. The remaining acreage is located in the Midla
Mizuho analyst Nitin Kumar reiterates Earthstone Energy (NYSE:ESTE) with a Neutral and maintains $22 price target.
Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) today announced that it has completed its acquisition of Earthstone Energy, Inc. ("Earthstone") (NYSE:ESTE). The transaction was previously approved by Permian Resources and Earthstone shareholders at special meetings held on October 30, 2023. James Walter, Co-CEO of Permian Resources, commented, "We are excited to complete this transaction and welcome the Earthstone team to Permian Resources. This acquisition reinforces Permian Resources' position as a premier Delaware Basin independent E&P which is uniquely situated to drive profitable growth and development in the world-class Permian Basin." "We look forwa
THE WOODLANDS, Texas, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone", the "Company"), today announced that its Board of Directors declared a cash dividend of $0.1446 per share of Class A and Class B common stock. The dividend is payable on November 6, 2023, to shareholders of record as of October 31, 2023 who hold their shares through the closing of Earthstone's previously announced merger with Permian Resources Corporation (NYSE:PR) ("Permian Resources"). The special dividend is conditioned upon the closing of the transaction and is being declared in accordance with the terms of the merger agreement, which provides that (a) the record date of the sp
THE WOODLANDS, Texas, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone", the "Company"), today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), with respect to the previously-announced agreement for Permian Resources Corporation (NYSE:PR) ("Permian Resources") to acquire all outstanding shares of Earthstone at an exchange ratio of 1.446 shares of Permian Resources for each Earthstone share. The expiration of the HSR Act waiting period occurred at 11:59 p.m. EDT on October 2, 2023, which was a condition to the closing of the pending transaction. Completion of the tr
NEW YORK, Aug. 26, 2023 (GLOBE NEWSWIRE) -- Timber Pharmaceuticals, Inc. (NYSE:TMBR) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the sale of TMBR to LEO Pharma A/S for (i) an initial upfront consideration of $14 million and (ii) up to an additional $22 million in contingent value rights payable upon achievement of specific milestones for TMB-001. If you are a TIMBR investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected]. Permian Resources Corporation (NYSE:PR)
MIDLAND, Texas and THE WOODLANDS, Texas, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) and Earthstone Energy, Inc. ("Earthstone Energy" or "Earthstone") (NYSE:ESTE) today announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone's net debt. Under the terms of the transaction, each share of Earthstone common stock will be exchanged for a fixed ratio of 1.446 shares of Permian Resources common stock. The transaction strengthens Permian Resources' position as a leading Delaware Basi
Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) and Earthstone Energy, Inc. ("Earthstone Energy" or "Earthstone") (NYSE:ESTE) today announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone's net debt. Under the terms of the transaction, each share of Earthstone common stock will be exchanged for a fixed ratio of 1.446 shares of Permian Resources common stock. The transaction strengthens Permian Resources' position as a leading Delaware Basin independent E&P with over 400,000 Permian net acres, pro forma production
THE WOODLANDS, Texas, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone", the "Company"), today announced the closing of the acquisition of the northern Delaware Basin assets of Novo Oil & Gas Holdings, LLC ("Novo"). Concurrent with the closing of the Novo acquisition, the Company also announced the effectiveness of an amendment to the Company's senior secured credit facility, which increases the elected borrowing base commitments from $1.45 billion to $1.75 billion and increases the borrowing base from $1.65 billion to $2.0 billion. Management Comments Robert J. Anderson, President and Chief Executive Officer of Earthstone, stated, "We are excited
THE WOODLANDS, Texas, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone" or the "Company") announced today its participation in upcoming conferences. EnerCom Denver The Energy Investment Conference, August 14, 2023Robert J. Anderson, President and CEO, will be presenting at EnerCom Denver on Monday, August 14, 2023, at 8:25 am MDT. Interested parties can listen to the webcast by registering at the following website: https://www.enercomdenver.com. Barclays CEO Energy-Power Conference, September 5 - September 6, 2023NYSE Investor Access Day, September 12, 2023Pickering Energy Partners 2023 TE&M Fest, September 21, 2023 The Company plans to use the investor
Final Call for One-on-One Meeting Requests for all Companies by Institutional Investors, Portfolio Managers, Financial Analysts, CIOs, and Other Investment Industry Professionals. World Class Energy Companies to Present; Presentation Times and Schedule for All Participating Companies Now Posted on the Conference Website www.enercomdenver.com Investors, Analysts, and Energy Industry Professionals Can Still Register to Attend EnerCom Denver – The Energy Investment Conference at www.enercomdenver.com DENVER, Aug. 8, 2023 /PRNewswire/ -- EnerCom, Inc. has finalized presentation times and schedule for participating companies on the conference website for the 28th Annual EnerCom Denver – The Ene
THE WOODLANDS, Texas, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone", the "Company"), today announced that Warburg Pincus LLC and its affiliates ("Warburg Pincus") recently sold its remaining 12.9 million shares of Earthstone's Class A common stock. Effective with this sale, Warburg Pincus no longer holds any shares of Earthstone's Class A or Class B common stock. Management Comment Robert J. Anderson, President and Chief Executive Officer of Earthstone, stated, "We appreciate the opportunity to have partnered with Warburg Pincus over the past several years and thank them for their contribution to our growth and success. Warburg has efficiently so
Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) today announced that it has completed its acquisition of Earthstone Energy, Inc. ("Earthstone") (NYSE:ESTE). The transaction was previously approved by Permian Resources and Earthstone shareholders at special meetings held on October 30, 2023. James Walter, Co-CEO of Permian Resources, commented, "We are excited to complete this transaction and welcome the Earthstone team to Permian Resources. This acquisition reinforces Permian Resources' position as a premier Delaware Basin independent E&P which is uniquely situated to drive profitable growth and development in the world-class Permian Basin." "We look forwa
THE WOODLANDS, Texas, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone", the "Company"), today announced that its Board of Directors declared a cash dividend of $0.1446 per share of Class A and Class B common stock. The dividend is payable on November 6, 2023, to shareholders of record as of October 31, 2023 who hold their shares through the closing of Earthstone's previously announced merger with Permian Resources Corporation (NYSE:PR) ("Permian Resources"). The special dividend is conditioned upon the closing of the transaction and is being declared in accordance with the terms of the merger agreement, which provides that (a) the record date of the sp
MIDLAND, Texas and THE WOODLANDS, Texas, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) and Earthstone Energy, Inc. ("Earthstone Energy" or "Earthstone") (NYSE:ESTE) today announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone's net debt. Under the terms of the transaction, each share of Earthstone common stock will be exchanged for a fixed ratio of 1.446 shares of Permian Resources common stock. The transaction strengthens Permian Resources' position as a leading Delaware Basi
Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) and Earthstone Energy, Inc. ("Earthstone Energy" or "Earthstone") (NYSE:ESTE) today announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone's net debt. Under the terms of the transaction, each share of Earthstone common stock will be exchanged for a fixed ratio of 1.446 shares of Permian Resources common stock. The transaction strengthens Permian Resources' position as a leading Delaware Basin independent E&P with over 400,000 Permian net acres, pro forma production
THE WOODLANDS, Texas, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone", the "Company", "we", "our" or "us"), today announced financial and operating results for the three and six months ended June 30, 2023. Second Quarter 2023 Highlights Announced the Novo Acquisition for $1 billion on June 15, 2023, which is expected to close on August 15, 2023Achieved record average daily production of 105,493 Boepd(1) (42% oil), which exceeded the mid-point of full-year 2023 production guidance by 5.5%Net income(2) of $82.4 million, and Adjusted Net Income(3) of $75.6 millionAdjusted EBITDAX(3) of $238.8 millionNet cash provided by operating activities of $218.4 mill
THE WOODLANDS, Texas, July 25, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone" or the "Company"), announced today that its management team will host a conference call on Thursday, August 3, 2023, at 2:00 p.m. Eastern (1:00 p.m. Central) to discuss the Company's financial results for the second quarter 2023. Prepared remarks by Robert J. Anderson, President and Chief Executive Officer, Mark Lumpkin, Jr., Executive Vice President and Chief Financial Officer, and Steven C. Collins, Executive Vice President and Chief Operating Officer, will be followed by a question and answer session. The Company intends to file its earnings press release for the period ended June 3
THE WOODLANDS, Texas, May 03, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone", the "Company", "we", "our" or "us"), today announced financial and operating results for the three months ended March 31, 2023. First Quarter 2023 Highlights Average daily production of 104,450 Boepd(1), up 194% from Q1 2022Net income(2) of $86.2 million, and Adjusted Net Income(3) of $109.1 millionAdjusted EBITDAX(3) of $266.9 million, up 117% from Q1 2022Net cash provided by operating activities of $258.3 millionFree Cash Flow(3) of $41.8 million, up 17% from Q1 2022Reduced Long-term debt by $62.0 millionCapital expenditures of $202.3 million(1) Represents reported sales volumes.(2
THE WOODLANDS, Texas, April 27, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone" or the "Company"), announced today that its management team will host a conference call on Thursday, May 4, 2023, at 1:00 p.m. Eastern (12:00 p.m. Central) to discuss the Company's financial results for the first quarter 2023. Prepared remarks by Robert J. Anderson, President and Chief Executive Officer, Mark Lumpkin, Jr., Executive Vice President and Chief Financial Officer, and Steven C. Collins, Executive Vice President and Chief Operating Officer, will be followed by a question and answer session. The Company intends to file its earnings press release for the period ended March 31
THE WOODLANDS, Texas, March 08, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone", the "Company", "we" or "us"), today announced financial and operating results for the quarter and year ended December 31, 2022. Fourth Quarter 2022 Highlights Repurchased 3 million shares of Class A Common Stock for $43.7 millionNet income(1) of $185.2 million and Adjusted net income(2) of $147.2 millionAdjusted EBITDAX(2) of $338.0 million, up 296% compared to Q4 2021Net cash provided by operating activities of $315.7 millionFree Cash Flow(2) of $134.5 million, up 372% compared to Q4 2021Reduced debt under our revolving credit facility by $121.6 millionAverage daily production of
THE WOODLANDS, Texas, March 02, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE:ESTE) ("Earthstone" or the "Company"), announced today that its management team will host a conference call on Thursday, March 9, 2023 at 11:00 a.m. Eastern (10:00 a.m. Central) to discuss the Company's financial results for the fourth quarter 2022, full year 2022 and its outlook for 2023. Prepared remarks by Robert J. Anderson, President and Chief Executive Officer, Mark Lumpkin, Jr., Executive Vice President and Chief Financial Officer and Steven C. Collins, Executive Vice President and Chief Operating Officer, will be followed by a question and answer session. The Company intends to file its earnings
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CapitalOne initiated coverage of Earthstone Energy with a rating of Overweight and set a new price target of $27.00
Stephens initiated coverage of Earthstone Energy with a rating of Overweight and set a new price target of $18.00
Mizuho initiated coverage of Earthstone Energy with a rating of Neutral and set a new price target of $19.00
RBC Capital Mkts downgraded Earthstone Energy from Outperform to Sector Perform and set a new price target of $21.00
Stephens initiated coverage of Earthstone Energy with a rating of Equal-Weight and set a new price target of $15.00
Wells Fargo reiterated coverage of Earthstone Energy with a rating of Underweight and set a new price target of $12.00 from $11.00 previously
Benchmark initiated coverage of Earthstone Energy with a rating of Buy and set a new price target of $15.00
The Benchmark Company initiated coverage of Earthstone Energy with a rating of Buy and set a new price target of $15.00
Wells Fargo downgraded Earthstone Energy from Equal Weight to Underweight and set a new price target of $10.00
Northland Capital resumed coverage of Earthstone Energy with a rating of Outperform and set a new price target of $17.00 from $6.50 previously