Earthstone Energy (ESTE) Update - Sept 16

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Earthstone Energy (ESTE) Update - Sept 16

Post by dan_s »

Note from Zach's Equity Research Team this morning.
Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Over the last 30 days, the Zacks Consensus EPS Estimate for the current year has increased 14.4%, as one estimate has moved higher compared to no negative revision.

Moreover, ESTE currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term.
Earthstone announced the closing of the Titus Acquisition on August 10, 2022. It is a SIGNIFICANT deal that puts the Company on-track to a 2022 production exit rate of 100,000 Boepd, which compares to Earthstone's actual Q1 2022 production of 35,509 Boepd.
Dan Steffens
Energy Prospectus Group
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