Earthstone Energy (ESTE) Gets a Buy Rating from Northland Securities

By Carrie Williams

Northland Securities analyst Jeff Grampp reiterated a Buy rating on Earthstone Energy (ESTEResearch Report) today and set a price target of $11. The company’s shares opened today at $6.64.

According to TipRanks.com, Grampp has 0 stars on 0-5 star ranking scale with an average return of -11.2% and a 30.1% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Goodrich Petroleum Corp, Lonestar Resources US, and Northern Oil And Gas.

Earthstone Energy has an analyst consensus of Strong Buy, with a price target consensus of $10.67.

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Based on Earthstone Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $36.13 million. In comparison, last year the company had a net profit of $2.32 million.

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Earthstone Energy, Inc. engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. Its primary assets are located in the Midland Basin of West Texas, the Eagle Ford trend of south Texas, and the Williston Basin of North Dakota. The company was founded on July 7, 1969 and is headquartered in the Woodlands, TX.