Earthstone Energy, Inc. is an independent  oil and gas exploration and production company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ESTE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Earthstone Energy could be a solid choice for investors.

Current Quarter Estimates for ESTE

In the past 60 days, 3 estimates have gone higher for Earthstone Energy, while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing down from a loss of 17 cents a share 30 days ago, to a loss of 13 cents per share today, a move of 23.5%.

Current Year Estimates for ESTE  

Meanwhile, Earthstone Energy’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to 2 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing down from a loss of 52 cents per share 30 days ago to a loss of 45 cents per share today, an increase of 13.5%.

EARTHSTONE EGY Price and Consensus

EARTHSTONE EGY Price and Consensus | EARTHSTONE EGY Quote

Bottom Line

The stock has also started to move higher lately, adding 7.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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