Northland Securities Reaffirms Their Buy Rating on Earthstone Energy (ESTE)

By Carrie Williams

In a report released today, Jeff Grampp from Northland Securities reiterated a Buy rating on Earthstone Energy (ESTEResearch Report), with a price target of $6.00. The company’s shares closed last Monday at $4.53.

According to, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -17.0% and a 23.0% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Lonestar Resources US, and Northern Oil And Gas.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Earthstone Energy with a $8.00 average price target.

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Earthstone Energy’s market cap is currently $131.5M and has a P/E ratio of 4.65. The company has a Price to Book ratio of 0.40.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ESTE in relation to earlier this year.

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Earthstone Energy, Inc. engages in the acquisition, exploration, development, and production of oil and gas preserves. Its primary assets are located in the Midland Basin of west Texas and the Eagle Ford Trend of south Texas. The company was founded on July 7, 1969 and is headquartered in the The Woodlands, TX.