|Bid||4.88 x 1800|
|Ask||5.57 x 1200|
|Day's Range||5.05 - 5.56|
|52 Week Range||1.44 - 6.88|
|Beta (5Y Monthly)||2.90|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 05, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.69|
Earthstone Energy (ESTE) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Earthstone's (ESTE) acquisition of Independence Resources Management is valued at $182 million.
Earthstone Energy, Inc. (NYSE: ESTE) ("Earthstone" or the "Company") today announced that it has completed the previously announced acquisition of Independence Resources Management, LLC ("IRM"). The aggregate purchase price for the acquisition was approximately $182.0 million, consisting of $131.2 million in cash consideration and approximately 12.7 million shares of Earthstone’s Class A common stock valued at $50.8 million based on a closing share price of $3.99 on December 16, 2020.