Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Earthstone Energy Inc. shares valued at $820,500 were sold by Oviedo Tony on Nov 11. At $16.41 per share, Oviedo Tony sold 50,000 shares. The insider’s holdings dropped to 71,409 shares worth approximately $1.0 million following the completion of this transaction.
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Also, Oviedo Tony sold 50,000 shares, netting a total of over 783,000 in proceeds. Following the sale of shares at $15.66 each, the insider now holds 121,409 shares.
Before that, Lodzinski Frank Alan had sold 45,690 shares from its account. In a trade valued at $707,738, the Executive Chairman traded Earthstone Energy Inc. shares for $15.49 each. Upon closing the transaction, the insider’s holdings decreased to 45,690 shares, worth approximately $5.75 million.
As published in their initiating research note from Mizuho on January 10, 2023, Earthstone Energy Inc. [ESTE] has been a Neutral and the price target has been revised to $19. This represents a 25.95% premium over Wednesday’s closing price. Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in early July. As of April 14, 2022, Stephens has initiated its “an Equal-weight” rating for ESTE. Earlier on November 03, 2021, The Benchmark Company initiated its rating. Their recommendation was “a Buy” for ESTE stock.
Analyzing ESTE Stock Performance
On Wednesday, Earthstone Energy Inc. [NYSE: ESTE] rose 0.86% to $14.07. The stock’s lowest price that day was $13.81, but it reached a high of $14.29 in the same session. During the last five days, there has been a surge of approximately 8.65%. Over the course of the year, Earthstone Energy Inc. shares have dropped approximately -1.12%. Shares of the company reached a 52-week high of $15.05 on 01/26/23 and a 52-week low of $12.39 on 02/21/23. A 50-day SMA is recorded $13.64, while a 200-day SMA reached $14.61. Nevertheless, trading volume fell to 1.26 million shares from 1.22 million shares the previous day.
Support And Resistance Levels for Earthstone Energy Inc. (ESTE)
According to the 24-hour chart, there is a support level at 13.82, which, if violated, would cause prices to drop to 13.58. In the upper region, resistance lies at 14.30. The next price resistance is at 14.54. RSI (Relative Strength Index) is 55.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.56, which suggests the price will decrease in the coming days. Percent R is at 14.94%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Earthstone Energy Inc. subject to short interest?
Stocks of Earthstone Energy Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by 90000.0 shares to 10.1 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 10.19 million shares. A decline of -0.89% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.05 of the overall float, the days-to-cover ratio (short ratio) decline to 8.05.
Which companies own the most shares of Earthstone Energy Inc. (ESTE)?
According to SSgA Funds Management, Inc. filings, the company currently owns 5,674,136 shares, which is about 5.38% of the total ESTE shares outstanding. The investor’s shares have appreciated by 1,026,258 from its previous 13-F filing of 4647878.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $43,093,350. Ranger Investment Management LP acquire a 3.15% interest valued at $39.88 million while BlackRock Fund Advisors purchased a 141,844 stake. A total of 521,024 shares of Earthstone Energy Inc. were bought by Macquarie Investment Management B during the quarter, and 569,102 were bought by American Century Investment Manag. In its current portfolio, William Blair Investment Manageme holds 1,758,439 shares valued at $24.44 million.
In terms of Earthstone Energy Inc. share price expectations, FactSet research, analysts set an average price target of $25.33 in the next 12 months, up nearly 82.8% from the previous closing price of $13.95. Analysts anticipate Earthstone Energy Inc. stock to reach $31.00 by 2023, with the lowest price target being $19.00. In spite of this, 6 analysts ranked Earthstone Energy Inc. stock as an Overweight at the end of 2023. On August 23, 2021, Wells Fargo assigned a price target of “an Underweight” to the stock and downgraded coverage with a $10.