Checking in on Earthstone Energy Inc. (ESTE) after recent insiders movement


In a filing, Earthstone Energy Inc. revealed its Exhibit 99.1 Cypress Investments, LLC acquired Company’s shares for reported $14.75 million on Oct 06. In the deal valued at $14.75 per share,1,000,000 shares were bought. As a result of this transaction, Cypress Investments, LLC now holds 11,017,213 shares worth roughly $ 176.5 million.

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Then, Post Oak Energy Holdings, LLC bought 1,000,000 shares, generating $14,750,000 in total proceeds. Upon buying the shares at $14.75, the See Exhibit 99.3 now owns 11,167,213 shares.

Before that, Warburg Pincus (E&P) XII, L.P. sold 6,750,000 shares. Earthstone Energy Inc. shares valued at $98,415,000 were divested by the 10% Owner at a price of $14.58 per share. As a result of the transaction, Warburg Pincus (E&P) XII, L.P. now holds 12,883,377 shares, worth roughly $206.39 million.

RBC Capital Mkts downgraded its Earthstone Energy Inc. [ESTE] rating to a Sector perform from a an Outperform in a research note published on Friday. PT values the company’s stock at a premium of 23.71 to its Friday closing price. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in mid April with a ‘”an Equal-weight”‘ rating. The Benchmark Company began covering ESTE with “Buy” recommendation on November 03, 2021. Wells Fargo revised its rating on August 23, 2021. It rated ESTE as “an Underweight” which previously was an “an Equal weight”.

Price Performance Review of ESTE

On Friday, Earthstone Energy Inc. [NYSE:ESTE] saw its stock jump 1.26% to $16.02. On the same session, the stock had its day’s lowest price of $15.73, but rose to a high of $17.005. Over the last five days, the stock has gained 4.36%. Earthstone Energy Inc. shares have risen nearly 46.44% since the year began. Nevertheless, the stocks have risen 40.90% over the past one year. While a 52-week high of $22.25 was reached on 06/07/22, a 52-week low of $9.41 was recorded on 09/27/22. SMA at 50 days reached $14.39, while 200 days put it at $14.27. A total of 2.07 million shares were traded, compared to the trading of 2.06 million shares in the previous session.

Levels Of Support And Resistance For ESTE Stock

The 24-hour chart illustrates a support level at 15.50, which if violated will result in even more drops to 14.98. On the upside, there is a resistance level at 16.77. A further resistance level may holdings at 17.53. The Relative Strength Index (RSI) on the 14-day chart is 59.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.43, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.62%. Stochastics %K at 70.36% indicates the stock is a holding.

How much short interest is there in Earthstone Energy Inc.?

A steep rise in short interest was recorded in Earthstone Energy Inc. stocks on Jul 14, 2022, growing by 4.02 million shares to a total of 13.48 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 9.46 million shares. There was a rise of 29.82%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 17.96% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.36.

Earthstone Energy Inc. [ESTE] – Who Are The Largest Shareholders?

In filings from Ontario Teachers’ Pension Plan Bo, it is revealed that the company now owns 3,449,699 shares, or roughly 3.19% of the outstanding ESTE shares. Additionally, SSgA Funds Management, Inc. increased 428.60% of its stake after which the total value it holdings stand at $36,314,789, while BlackRock Fund Advisors added 49.03% of its stake to hold $31.5 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 1,141,739 shares of Earthstone Energy Inc., while Dimensional Fund Advisors LP bought 214,319 shares. At present, Macquarie Investment Management B is holding 1,864,917 shares valued at $22.98 million. Ranger Investment Management LP owned 1,819,533 shares of the company at the time of its most recent 13F filing, worth $22.42 million.

According to FactSet, Earthstone Energy Inc.’s share price will average $28.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 89.63 percent from its previous closing price of $15.82. Analysts expect Earthstone Energy Inc. stock to reach the higher price of $37.00, while the lowest price estimate is $16.00. However, 6 analysts have rated ESTE stock as an Overweight in their predictions for 2022.


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