Breaking News

Over a week ago
Show Full Stories

X

To view all stories in expanded form, please subscribe.
Send Info
Recommendations
Earthstone Energy price target raised to $4.50 from $3 at Northland » 09:18
07/17/20
07/17
09:18
07/17/20
09:18
ESTE

Earthstone Energy

$3.00 /

+0.235 (+8.50%)

Northland analyst Jeff…

Northland analyst Jeff Grampp raised the firm's price target on Earthstone Energy to $4.50 from $3 and reiterates an Outperform rating on the shares. The company's operational update and 2020 guidance both came in above expectations, primarily due to the ramping back to full production quickly in June as a result of improved pricing, Grampp tells investors in a research note. Further, Earthstone's 2021 commentary with flat year-over-year production possible "screens much better than expectations," adds the analyst.

ShowHide Related Items >><<
ESTE Earthstone Energy
$3.00 /

+0.235 (+8.50%)

ESTE Earthstone Energy
$3.00 /

+0.235 (+8.50%)

07/17/20 Imperial Capital
Earthstone Energy price target raised to $4 from $3 at Imperial Capital
06/25/20 Truist
Earthstone Energy upgraded to Buy at SunTrust on its 'deep value'
06/25/20 Truist
Earthstone Energy upgraded to Buy from Hold at SunTrust
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
ESTE Earthstone Energy
$3.00 /

+0.235 (+8.50%)

ESTE Earthstone Energy
$3.00 /

+0.235 (+8.50%)

Recommendations
Earthstone Energy price target raised to $4 from $3 at Imperial Capital » 04:51
07/17/20
07/17
04:51
07/17/20
04:51
ESTE

Earthstone Energy

$3.00 /

+0.235 (+8.50%)

Imperial Capital analyst…

Imperial Capital analyst Jason Wangler raised the firm's price target on Earthstone Energy to $4 from $3 and keeps an Outperform rating on the shares. The company's "resilient" production and backlog of drilled wells should it to maintain production levels and generate free cash flow, Wangler tells investors in a research note.

ShowHide Related Items >><<
ESTE Earthstone Energy
$3.00 /

+0.235 (+8.50%)

ESTE Earthstone Energy
$3.00 /

+0.235 (+8.50%)

06/25/20 Truist
Earthstone Energy upgraded to Buy at SunTrust on its 'deep value'
06/25/20 Truist
Earthstone Energy upgraded to Buy from Hold at SunTrust
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
ESTE Earthstone Energy
$3.00 /

+0.235 (+8.50%)

ESTE Earthstone Energy
$3.00 /

+0.235 (+8.50%)

Hot Stocks
Earthstone Energy sees Q2 production 13,600 Boepd » 07:20
07/16/20
07/16
07:20
07/16/20
07:20
ESTE

Earthstone Energy

$2.77 /

+0.26 (+10.38%)

Earthstone Energy…

Earthstone Energy provided an update to its operations and 2020 production guidance. Following the previously announced production curtailments for May due to historically low oil prices, beginning in June, the company commenced returning all of its shut-in and curtailed operated wells to full production, which are currently producing at nearly 100% of capacity. Earthstone estimates that total net production was curtailed by approximately 60% in May, with minimal volumes curtailed in April and June. The company estimates average production for Q2 to be approximately 13,600 Boepd. Assuming no further curtailments are warranted, average daily production for FY20 is expected to be 13,000-14,000 Boepd. The company said, "In late May, we concluded our 2020 drilling program and released our contracted rig operating in the Midland Basin. During the first half of the year, we drilled a total of five wells in our Hamman Upton project along with six wells in Ratliff pad, all located in Upton County. The Company now has a total of 11 gross / 9.7 net operated wells drilled and waiting on completion, with no near-term completion plans. As previously disclosed, we completed three wells in southeast Reagan County in late March and brought them online in April, prior to shutting the wells in for the duration of the month of May. The two Wolfcamp B Lower wells achieved average peak 27-day production rate of 1,617 Boepd (85% oil) prior to being shut-in (also previously disclosed). The Wolfcamp B Upper well, which was cleaning up when the wells were shut-in for the month of May, has averaged 1,483 Boepd (84% oil) over 27 days since having been brought back online in mid-June."

ShowHide Related Items >><<
ESTE Earthstone Energy
$2.77 /

+0.26 (+10.38%)

ESTE Earthstone Energy
$2.77 /

+0.26 (+10.38%)

06/25/20 Truist
Earthstone Energy upgraded to Buy at SunTrust on its 'deep value'
06/25/20 Truist
Earthstone Energy upgraded to Buy from Hold at SunTrust
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
ESTE Earthstone Energy
$2.77 /

+0.26 (+10.38%)

ESTE Earthstone Energy
$2.77 /

+0.26 (+10.38%)

Conference/Events
Earthstone Energy management to meet virtually with Roth Capital » 04:55
07/08/20
07/08
04:55
07/08/20
04:55
ESTE

Earthstone Energy

$2.64 /

-0.16 (-5.71%)

Virtual Meetings to be…

Virtual Meetings to be held July 7-8 hosted by Roth Capital.

ShowHide Related Items >><<
ESTE Earthstone Energy
$2.64 /

-0.16 (-5.71%)

ESTE Earthstone Energy
$2.64 /

-0.16 (-5.71%)

06/25/20 Truist
Earthstone Energy upgraded to Buy at SunTrust on its 'deep value'
06/25/20 Truist
Earthstone Energy upgraded to Buy from Hold at SunTrust
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
ESTE Earthstone Energy
$2.64 /

-0.16 (-5.71%)

ESTE Earthstone Energy
$2.64 /

-0.16 (-5.71%)

Conference/Events
Earthstone Energy management to meet virtually with Roth Capital » 04:55
07/07/20
07/07
04:55
07/07/20
04:55
ESTE

Earthstone Energy

$2.80 /

-0.13 (-4.44%)

Virtual Meetings to be…

Virtual Meetings to be held July 7-8 hosted by Roth Capital.

ShowHide Related Items >><<
ESTE Earthstone Energy
$2.80 /

-0.13 (-4.44%)

ESTE Earthstone Energy
$2.80 /

-0.13 (-4.44%)

06/25/20 Truist
Earthstone Energy upgraded to Buy at SunTrust on its 'deep value'
06/25/20 Truist
Earthstone Energy upgraded to Buy from Hold at SunTrust
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
ESTE Earthstone Energy
$2.80 /

-0.13 (-4.44%)

ESTE Earthstone Energy
$2.80 /

-0.13 (-4.44%)

Over a month ago
Conference/Events
Earthstone Energy management to meet virtually with Roth Capital » 11:24
06/30/20
06/30
11:24
06/30/20
11:24
ESTE

Earthstone Energy

$2.86 /

-0.055 (-1.89%)

Virtual Meetings to be…

Virtual Meetings to be held July 7-8 hosted by Roth Capital.

ShowHide Related Items >><<
ESTE Earthstone Energy
$2.86 /

-0.055 (-1.89%)

ESTE Earthstone Energy
$2.86 /

-0.055 (-1.89%)

06/25/20 Truist
Earthstone Energy upgraded to Buy at SunTrust on its 'deep value'
06/25/20 Truist
Earthstone Energy upgraded to Buy from Hold at SunTrust
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
ESTE Earthstone Energy
$2.86 /

-0.055 (-1.89%)

ESTE Earthstone Energy
$2.86 /

-0.055 (-1.89%)

Upgrade
Earthstone Energy upgraded to Buy at SunTrust on its 'deep value' » 07:23
06/25/20
06/25
07:23
06/25/20
07:23
ESTE

Earthstone Energy

$2.67 /

-0.27 (-9.18%)

SunTrust analyst Neal…

SunTrust analyst Neal Dingmann upgraded Earthstone Energy to Buy from Hold with a price target of $6, up from $3. The company represents "deep value" and may be a potential "acquisition target", the analyst tells investors in a research note. Dingmann adds that Earthstone is among the most financially stable and operationally efficient small-cap E&Ps with "minimal" debt, consistent Midland wells, and overhead. The analyst further states that the stock currently trades at the "deepest discount" in his coverage relative to the peer group average.

ShowHide Related Items >><<
ESTE Earthstone Energy
$2.67 /

-0.27 (-9.18%)

ESTE Earthstone Energy
$2.67 /

-0.27 (-9.18%)

06/25/20 Truist
Earthstone Energy upgraded to Buy from Hold at SunTrust
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
03/13/20 Roth Capital
Earthstone Energy downgraded to Neutral from Buy at Roth Capital
ESTE Earthstone Energy
$2.67 /

-0.27 (-9.18%)

ESTE Earthstone Energy
$2.67 /

-0.27 (-9.18%)

Upgrade
Earthstone Energy upgraded to Buy from Hold at SunTrust » 05:28
06/25/20
06/25
05:28
06/25/20
05:28
ESTE

Earthstone Energy

$2.67 /

-0.27 (-9.18%)

SunTrust analyst Neal…

SunTrust analyst Neal Dingmann upgraded Earthstone Energy to Buy from Hold with a $6 price target.

ShowHide Related Items >><<
ESTE Earthstone Energy
$2.67 /

-0.27 (-9.18%)

ESTE Earthstone Energy
$2.67 /

-0.27 (-9.18%)

04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
03/13/20 Roth Capital
Earthstone Energy downgraded to Neutral from Buy at Roth Capital
03/13/20 Imperial Capital
Earthstone Energy price target lowered to $3 from $7 at Imperial Capital
ESTE Earthstone Energy
$2.67 /

-0.27 (-9.18%)

ESTE Earthstone Energy
$2.67 /

-0.27 (-9.18%)

Over a quarter ago
Earnings
Earthstone Energy reaffirms 2020 capex guidance » 16:15
05/06/20
05/06
16:15
05/06/20
16:15
ESTE

Earthstone Energy

$2.19 /

-0.14 (-6.01%)

"In light of…

"In light of reducing our operated production in the near-term, as well as the likelihood of similar actions expected from our non-operated production, and with the potential for involuntary curtailments, we are withdrawing our 2020 production and operating cost guidance that was most recently updated in March 2020. We reaffirm our $50 - 60 million capital expenditure guidance for 2020," the company said. "Additionally, we are providing a cash-based general and administrative expense guidance range for 2020 of $15.5 million to $16.5 million. The low end of this range approximates a targeted 25% reduction compared to the midpoint of initial guidance, which we aim to achieve primarily through a reduction in executive compensation, but also through broader cost control initiatives which include each of our professional service providers."

ShowHide Related Items >><<
ESTE Earthstone Energy
$2.19 /

-0.14 (-6.01%)

04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
03/13/20 Roth Capital
Earthstone Energy downgraded to Neutral from Buy at Roth Capital
03/13/20 Imperial Capital
Earthstone Energy price target lowered to $3 from $7 at Imperial Capital
Earnings
Earthstone Energy reports Q1 adjusted EPS 13c, consensus 17c » 16:15
05/06/20
05/06
16:15
05/06/20
16:15
ESTE

Earthstone Energy

$2.19 /

-0.14 (-6.01%)

Reports Q1 revenue…

Reports Q1 revenue $45.14M, consensus $52.82M. Mr. Robert J. Anderson, President and CEO of Earthstone, commented, "We had a good quarter despite the current economic environment facing our industry by hitting on our internal targets for production, Adjusted EBITDAX and cash costs. Our low-cost business practices continue to serve us well, especially in this environment. Although our industry is facing unprecedented challenges due to both the COVID-19 pandemic and low oil prices, we have executed our adjusted 2020 plan announced in March 2020 with dedication from our employees and service providers alike and we would like to recognize and thank them all for their diligent efforts." Mr. Anderson commented further, "We are well positioned to endure this current oil price collapse as we maintain a strong hedge position and relatively low leverage, with ample liquidity, all of which affords us the ability to focus on free cash flow generation for the remainder of 2020. Due to the low oil prices expected in May, we are voluntarily reducing our operated production by 70-80% and estimate total Company production curtailed by 55-70% for the month. Based on oil prices in future months, we will determine curtailments as necessary, therefore, we expect to update our guidance for the remainder of 2020 in the near future. We are now focused on maintaining a strong balance sheet throughout the year and expect our leverage to be below 1x net debt to Adjusted EBITDAX at year-end 2020. In order to achieve this, we are targeting a cash-based general and administrative expense reduction of approximately 25% compared to our prior guidance by focusing on cost control. We are looking to the future as a healthy company with consolidation in mind."

ShowHide Related Items >><<
ESTE Earthstone Energy
$2.19 /

-0.14 (-6.01%)

04/02/20 Roth Capital
Earthstone Energy upgraded to Buy at Roth Capital
04/02/20 Roth Capital
Earthstone Energy upgraded to Buy from Neutral at Roth Capital
03/13/20 Roth Capital
Earthstone Energy downgraded to Neutral from Buy at Roth Capital
03/13/20 Imperial Capital
Earthstone Energy price target lowered to $3 from $7 at Imperial Capital

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.