Earthstone Energy Inc (ESTE) was Initiated by FBR Capital to “Outperform” and the brokerage firm has set the Price Target at $16. FBR Capital advised their investors in a research report released on Apr 27, 2016.
Many Wall Street Analysts have commented on Earthstone Energy Inc. Shares were Reiterated by Imperial Capital on Mar 22, 2016 to “Outperform” and Lowered the Price Target to $ 18 from a previous price target of $22 .
Earthstone Energy Inc opened for trading at $11.78 and hit $12.5 on the upside on Friday, eventually ending the session at $12.5, with a gain of 5.84% or 0.69 points. The heightened volatility saw the trading volume jump to 8,792 shares. Company has a market cap of $173 M.
In a different news, on Jan 19, 2016, Jay Frederick Joliat (director) purchased 10,000 shares at $11.72 per share price.
Earthstone Energy Inc. is an independent oil and gas exploration and production company primarily engaged in the exploration development and production of oil and natural gas properties. Its operating activities are concentrated in the North Dakota and Montana portions of the Williston Basin and south Texas. As of March 31 2014 the Companys estimated net proved oil and natural gas reserves were approximately 2554000 barrels of oil and condensate and approximately 3413000 thousand cubic feet of natural gas. In addition to the Williston Basin the Company is pursuing a new exploration project in the Nebraska portion of the Denver-Julesburg (DJ) basin. The Williston basin continues to be the Company’s highest area of activity.