Analyst Provides Guidance for This Canadian Energy Company

In a report issued on April 25, Scott Hanold from RBC Capital maintained a Buy rating on Earthstone Energy (ESTEResearch Report), with a price target of $20.00. The company’s shares closed last Tuesday at $13.55.

According to, Hanold is a top 100 analyst with an average return of 23.0% and a 59.7% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and California Resources Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Earthstone Energy with a $22.17 average price target, implying a 63.5% upside from current levels. In a report issued on April 21, Truist Financial also maintained a Buy rating on the stock with a $30.00 price target.

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Based on Earthstone Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $144 million and net profit of $39.77 million. In comparison, last year the company earned revenue of $36.68 million and had a GAAP net loss of $8.47 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ESTE in relation to earlier this year.

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Earthstone Energy, Inc. engages in the acquisition, exploration, development, and production of oil and gas preserves. Its primary assets are located in the Midland Basin of west Texas and the Eagle Ford Trend of south Texas. The company was founded on July 7, 1969 and is headquartered in the The Woodlands, TX.

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