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Investors Business Daily
Investors Business Daily
Business
INVESTOR'S BUSINESS DAILY and GLENN LARKIN

Earthstone Energy Stock Near Buy Zone With Quarterly Report Due

If you're looking for stocks that are setting up in a base ahead of earnings, here's one that fits the bill: Earthstone Energy. It's expected to release its latest numbers around Mar. 10 and is currently about 17% below a 15.37 entry. The entry is based on a third-stage consolidation, which is less likely than an earlier-stage base to generate a big new run.

Buying a stock just ahead of earnings involves risk since you typically don't have enough time to build a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.

Looking For Winning Stocks? Try This Simple Routine

Earnings growth picked up last quarter from 30% to 483%. But revenue gains fell from 314% to 169%.

Analysts are looking for earnings-per-share growth of 311% for the quarter, and 94% growth for the full year. Annual growth estimates were recently revised upward.

The company has a 98 Composite Rating and earns the No. 11 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Antero Resources, Continental Res and Devon Energy are among the top 5 highly rated stocks within the group.

Note: Dates for earnings reports are subject to change. Check the company's website for any updates.

 

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