Energy Prospectus

Earthstone Energy, Inc. (NYSE:ESTE) is an independent oil and gas firm. With energy prices at record highs and demand increasing, institutional investors have been piling into the stock in hopes of benefiting from this boom. At the end of the third quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $19 million in Earthstone Energy, Inc. (NYSE:ESTE), up from 9 in the previous quarter worth $23 million.

Earthstone Energy, Inc. (NYSE:ESTE) is a relatively new addition to the portfolio of Fisher Asset Management. The fund first purchased a stake in Earthstone Energy, Inc. (NYSE:ESTE) during the second quarter of 2021, buying nearly 100,000 shares at an average price of $9.08 per share. Fisher then proceeded to add to that position by 28% during the third quarter. The fund presently holds 127,647 shares of Earthstone Energy, Inc. (NYSE:ESTE) worth $1.1 million.
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My current valuation of ESTE is $26/share. They will soon announce the closing of a very significant acquisition in the Permian Basin.

Number of Hedge Fund Holders: 20

Gain in Share Price in 2021: 124%

PDC Energy, Inc. (NASDAQ:PDCE) is a Colorado-based energy firm. Elite hedge funds have backed PDC Energy, Inc. (NASDAQ:PDCE) to deliver solid returns in 2022. Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in PDC Energy, Inc. (NASDAQ:PDCE) with 2.4 million shares worth more than $116 million.

PDC Energy, Inc. (NASDAQ:PDCE) has been among the top stocks in the Fisher Asset Management portfolio since the first quarter of 2020. At the end of September, the fund owned over 1.4 million shares of PDC Energy, Inc. (NASDAQ:PDCE) worth $69 million, representing 0.04% of the portfolio.