Market Overview

Wunderlich Initiates Coverage On Earthstone Energy


Analysts at Wunderlich initiated coverage of Earthstone Energy Inc (NYSE: ESTE) with a Buy rating and a $24.00 price target. Earthstone Energy is a North American oil and gas exploration company that operates primarily in North Dakota, Montana and Texas.

Big Upside Potential

Earthstone Energy stock was up 1.7 percent recently at $19.40. Wunderlich’s $24 price target represents more than a 25 percet upside for the stock from current levels. Earthstone stock has had a decent year in 2014, up about almost 5 percent year-to-date.

Other Analyst Action

Earlier this month, Global Hunter Securities initiated coverage of the company by issuing an Accumulate rating and setting a $19.00 target. Imperial Capital issued an Outperform rating on Earthstone this month, but cut their price target from $35.00 to $24.00. Northland Securities also initiated coverage of the company in early December by issuing an Outperform rating and setting a $30.00 target.

A Valuation Perspective

Earthstone’s 8.1 price to earnings ratio (PE) is at a six-year low. The company’s forward PE is a modest 12.1, and its price-to-earnings-to-growth ratio (PEG) is 0.3. The debt-to-equity ratio of 0.26 is also reasonable for an oil and gas exploration company such as Earthstone.

Latest Ratings for ESTE

Mar 2018BairdMaintainsOutperformOutperform
Feb 2018BairdMaintainsOutperformOutperform
Feb 2018KLR GroupInitiates Coverage OnBuy

View More Analyst Ratings for ESTE
View the Latest Analyst Ratings

Posted-In: WunderlichLong Ideas Price Target Initiation Analyst Ratings Trading Ideas


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