Fintel reports that on September 12, 2023, Capital One downgraded their outlook for Earthstone Energy Inc – (NYSE:ESTE) from Overweight to Equal-Weight.

Analyst Price Forecast Suggests 32.79% Upside

As of August 31, 2023, the average one-year price target for Earthstone Energy Inc – is 27.39. The forecasts range from a low of 22.22 to a high of $32.55. The average price target represents an increase of 32.79% from its latest reported closing price of 20.63.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Earthstone Energy Inc – is 2,002MM, an increase of 10.63%. The projected annual non-GAAP EPS is 5.69.

What is the Fund Sentiment?

There are 343 funds or institutions reporting positions in Earthstone Energy Inc -. This is a decrease of 35 owner(s) or 9.26% in the last quarter. Average portfolio weight of all funds dedicated to ESTE is 0.53%, an increase of 35.77%. Total shares owned by institutions increased in the last three months by 2.79% to 107,779K shares. The put/call ratio of ESTE is 0.67, indicating a bullish outlook.

What are Other Shareholders Doing?

EnCap Energy Capital Fund XI holds 19,820K shares representing 18.64% ownership of the company. No change in the last quarter.

Warburg Pincus holds 12,868K shares representing 12.10% ownership of the company. In it’s prior filing, the firm reported owning 11,379K shares, representing an increase of 11.57%. The firm increased its portfolio allocation in ESTE by 2.01% over the last quarter.

Post Oak Energy Holdings holds 11,167K shares representing 10.50% ownership of the company. No change in the last quarter.

OnyxPoint Global Management holds 5,805K shares representing 5.46% ownership of the company. In it’s prior filing, the firm reported owning 5,575K shares, representing an increase of 3.96%. The firm increased its portfolio allocation in ESTE by 15.52% over the last quarter.

Ranger Investment Management holds 3,545K shares representing 3.33% ownership of the company. In it’s prior filing, the firm reported owning 3,437K shares, representing an increase of 3.06%. The firm increased its portfolio allocation in ESTE by 1.76% over the last quarter.

Earthstone Energy Background Information
(This description is provided by the company.)

Earthstone Energy, Inc. is a growth-oriented, independent energy company engaged in the development and operation of oil and natural gas properties. Its primary assets are located in the Midland Basin of west Texas and the Eagle Ford Trend of south Texas.

This article originally appeared on Fintel

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