Earthstone Energy Inc. [ESTE] Insider Activity: An Update for Investors


Earthstone Energy Inc.’s filing revealed that its 10% Owner WP Energy Chisholm Holdings, L unloaded Company’s shares for reported $72.6 million on Aug 01. In the deal valued at $14.52 per share,5,000,000 shares were sold. As a result of this transaction, WP Energy Chisholm Holdings, L now holds 7,868,234 shares worth roughly $ 163.58 million.

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Then, Warburg Pincus Partners II (US sold 5,000,000 shares, generating $72,600,000 in total proceeds. Upon selling the shares at $14.52, the 10% Owner now owns 7,868,234 shares.

Before that, Warburg Pincus Private Equity sold 5,000,000 shares. Earthstone Energy Inc. shares valued at $72,600,000 were divested by the 10% Owner at a price of $14.52 per share. As a result of the transaction, Warburg Pincus Private Equity now holds 7,868,234 shares, worth roughly $163.58 million.

CapitalOne initiated its Earthstone Energy Inc. [ESTE] rating to an Overweight in a research note published on Friday, July 19, 2023; the price target was $27. PT values the company’s stock at a premium of 23.0 to its Friday closing price.

Price Performance Review of ESTE

On Friday, Earthstone Energy Inc. [NYSE:ESTE] saw its stock jump 2.01% to $20.79. On the same session, the stock had its day’s lowest price of $20.52, but rose to a high of $21.03. Over the last five days, the stock has gained 7.66%. Earthstone Energy Inc. shares have risen nearly 46.10% since the year began. Nevertheless, the stocks have risen 36.78% over the past one year. While a 52-week high of $20.44 was reached on 09/01/23, a 52-week low of $10.65 was recorded on 03/17/23. SMA at 50 days reached $16.00, while 200 days put it at $14.21. A total of 1.23 million shares were traded, compared to the trading of 1.59 million shares in the previous session.

Levels Of Support And Resistance For ESTE Stock

The 24-hour chart illustrates a support level at 20.53, which if violated will result in even more drops to 20.27. On the upside, there is a resistance level at 21.04. A further resistance level may holdings at 21.29. The Relative Strength Index (RSI) on the 14-day chart is 81.38, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.92, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.10%. Stochastics %K at 96.83% indicates the stock is a selling.

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

A steep rise in short interest was recorded in Earthstone Energy Inc. stocks on Aug 14, 2023, dropping by -3.98 million shares to a total of 6.49 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 10.47 million shares. There was a decline of -61.33%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 11.45% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.39.

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

In filings from Ranger Investment Management LP, it is revealed that the company now owns 3,544,981 shares, or roughly 3.33% of the outstanding ESTE shares. In other words, the investor’s shares have risen by 108,450 from its previous 13-F filing of 3436531.0. Additionally, BlackRock Fund Advisors increased 21.60% of its stake after which the total value it holdings stand at $52,628,740, while The Vanguard Group, Inc. added 1.31% of its stake to hold $49.91 million in the firm. Over the last quarter, Macquarie Investment Management B purchased 51,794 shares of Earthstone Energy Inc., while American Century Investment Manag bought 31,135 shares. At present, SSgA Funds Management, Inc. is holding 2,808,785 shares valued at $44.88 million. William Blair Investment Manageme owned 2,537,674 shares of the company at the time of its most recent 13F filing, worth $40.55 million.

According to FactSet, Earthstone Energy Inc.’s share price will average $24.89 in the next year, based on opinions of analysts polled by the firm. This is up nearly 22.67 percent from its previous closing price of $20.38. Analysts expect Earthstone Energy Inc. stock to reach the higher price of $31.00, while the lowest price estimate is $18.00. However, 9 analysts have rated ESTE stock as an Overweight in their predictions for 2023.


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