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Earthstone Energy (ESTE) Dips More Than Broader Markets: What You Should Know

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Earthstone Energy (ESTE) closed at $12.52 in the latest trading session, marking a -1.96% move from the prior day. This move lagged the S&P 500's daily loss of 1.15%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.08%.

Prior to today's trading, shares of the oil and gas company had lost 13.01% over the past month. This has lagged the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.

Earthstone Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. In that report, analysts expect Earthstone Energy to post earnings of $1.23 per share. This would mark year-over-year growth of 373.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $364.98 million, up 307.02% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.79 per share and revenue of $1.34 billion, which would represent changes of +283.2% and +219.24%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Earthstone Energy. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.89% higher. Earthstone Energy is holding a Zacks Rank of #2 (Buy) right now.

Digging into valuation, Earthstone Energy currently has a Forward P/E ratio of 2.67. Its industry sports an average Forward P/E of 4.66, so we one might conclude that Earthstone Energy is trading at a discount comparatively.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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