Earthstone Energy (ESTE) being added to Sweet-16
Posted: Fri May 25, 2018 11:26 am
Earthstone is replacing Devon Energy (DVN). There is nothing wrong with Devon, but it is selling off a lot of producing assets this year so it is no longer a fit for a "Growth" portfolio.
Earthstone is an Aggressive Growth company that is well funded and a lot of running room.
First Call's price target $15.50/share. The FC price target is based on six analysts reports that have been submitted to Reuters that have price targets ranging from $14 to $17 per share. None of them have been updated since Earthstone reported solid Q1 results. Earthstone's realized oil price in Q1 (net of cash settlements on hedges during the quarter) was $55.11/bbl. Q2 results will be even better and their production should ramp up from 9,664 Boepd in Q1 to an exit rate of approximately 16,000 Boepd.
Earthstone is an Aggressive Growth company that is well funded and a lot of running room.
First Call's price target $15.50/share. The FC price target is based on six analysts reports that have been submitted to Reuters that have price targets ranging from $14 to $17 per share. None of them have been updated since Earthstone reported solid Q1 results. Earthstone's realized oil price in Q1 (net of cash settlements on hedges during the quarter) was $55.11/bbl. Q2 results will be even better and their production should ramp up from 9,664 Boepd in Q1 to an exit rate of approximately 16,000 Boepd.