Earthstone Energy initiated with a Neutral at Mizuho

Mizuho analyst Nitin Kumar initiated coverage of Earthstone Energy with a Neutral rating and $19 price target. Although the company has achieved its goal of reasonable scale in the Permian through well-timed acquisitions, it still needs to achieve stability in operations and trading activity, Kumar tells investors in a research note. The analyst is cautious on well productivity in the southern Midland.