Streetbeat News

ESTE

Earthstone Energy Inc

http://www.earthstoneenergy.com/

CEO

Robert Anderson

Employees

127

Industry

Crude Petroleum and Natural Gas Extraction

learn about working at earthstone energy, inc.. join linkedin today for free. see who you know at earthstone energy, inc., leverage your professional network, and get hired.

Open

21.04

Mkt cap

Volume

8.5M

High

21.45

P/E Ratio

4.64

52-wk high

22.45

Low

20.82

Div yield

N/A

52-wk low

11.32

Permian Resources (NYSE:PR) has announced its acquisition of Earthstone Energy (NYSE:ESTE) for $4.50 billion in stock, expected to be completed in 2023. Both companies are involved in oil and natural gas development and production.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 3:10 pm

Several stocks recorded gains on Monday, including Genelux Corporation, Applied Optoelectronics, AlloVir, Earthstone Energy, Palo Alto Networks, Archer Aviation, XPeng, Eos Energy Enterprises, BioNTech, and Moderna. Notable events include Earthstone Energy's acquisition by Permian Resources, Palo Alto Networks' strong Q4 earnings, XPeng's upgrade from Neutral to Buy by B of A Securities, and Moderna's announcement of positive preliminary clinical trial data for its updated COVID-19 vaccine.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 3:08 pm

Permian Resources Corp (PR) has signed a definitive acquisition deal to buy Earthstone Energy Inc (ESTE) for around $4.5 billion, including ESTE's net debt. The acquisition will add over 400,000 Permian net acres to PR's assets and is expected to be accretive to FCF per share by over 30% annually in the next two years. PR also plans to raise the quarterly base dividend by 20% to $0.06 per share, starting Q1 2024. The deal is expected to close by year-end 2023.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 12:20 pm

Permian Resources is set to acquire Earthstone Energy in an all-stock transaction valued at $4.5 billion.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 11:05 am

Over the last quarter, Earthstone Energy (NYSE:ESTE) has received a mix of bullish and indifferent analyst ratings. According to 8 analysts offering 12-month price targets in the last 3 months, the company has an average price target of $23.62, with a high of $32.00 and a low of $18.00. This average price target has increased by 9.0% over the past month.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 7:00 pm

Mizuho analyst Nitin Kumar maintains a Neutral rating on Earthstone Energy (NYSE:ESTE) and raises the price target from $19 to $22.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 11:20 am

Earthstone Energy, Inc. (ESTE) announced that Warburg Pincus LLC and its affiliates have sold their remaining 12.9 million shares of Earthstone's Class A common stock. With this sale, Warburg Pincus no longer holds any shares of Earthstone's Class A or Class B common stock. The recent stock sale will increase Earthstone's float by approximately 25%, which is expected to positively impact the company's stock trading liquidity.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 9:08 pm

Earthstone Energy (NYSE:ESTE) reported Q2 earnings of $0.53 per share, beating the analyst consensus estimate of $0.50 by 6%. However, this is a 58.91% decrease from the same period last year. The company also reported quarterly sales of $370.00 million, beating the estimate of $359.48 million by 2.93%, but this is a 21.70% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:16 pm

Capital One has initiated coverage on Earthstone Energy (NYSE:ESTE) with an Overweight rating and a price target of $27.

Portfolio Pulse from richadhand@benzinga.com

July 19, 2023 | 3:45 pm

Stephens & Co. analyst Mike Scialla has reiterated an Overweight rating on Earthstone Energy (NYSE:ESTE) and maintained a $21 price target.

Portfolio Pulse from richadhand@benzinga.com

July 19, 2023 | 2:33 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.