Earthstone Energy Management

Management criteria checks 2/4

Earthstone Energy's CEO is Robert Anderson, appointed in Apr 2018, has a tenure of 5.58 years. total yearly compensation is $4.26M, comprised of 11.6% salary and 88.4% bonuses, including company stock and options. directly owns 0.66% of the company’s shares, worth €18.68M. The average tenure of the management team and the board of directors is 5.7 years and 8.9 years respectively.

Key information

Robert Anderson

Chief executive officer

US$4.3m

Total compensation

CEO salary percentage	11.6%
CEO tenure	5.6yrs
CEO ownership	0.7%
Management average tenure	5.7yrs
Board average tenure	8.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Robert Anderson's remuneration changed compared to Earthstone Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2023	n/a	n/a	US$310m
Jun 30 2023	n/a	n/a	US$460m
Mar 31 2023	n/a	n/a	US$547m
Dec 31 2022	US$4m	US$496k	US$452m
Sep 30 2022	n/a	n/a	US$363m
Jun 30 2022	n/a	n/a	US$162m
Mar 31 2022	n/a	n/a	US$8m
Dec 31 2021	US$3m	US$448k	US$35m
Sep 30 2021	n/a	n/a	-US$13m
Jun 30 2021	n/a	n/a	-US$29m
Mar 31 2021	n/a	n/a	-US$36m
Dec 31 2020	US$4m	US$420k	-US$14m
Sep 30 2020	n/a	n/a	-US$8m
Jun 30 2020	n/a	n/a	US$10m
Mar 31 2020	n/a	n/a	US$35m
Dec 31 2019	US$3m	US$414k	US$719k
Sep 30 2019	n/a	n/a	US$39m
Jun 30 2019	n/a	n/a	US$28m
Mar 31 2019	n/a	n/a	US$20m
Dec 31 2018	US$2m	US$380k	US$42m
Sep 30 2018	n/a	n/a	US$9m
Jun 30 2018	n/a	n/a	US$10m
Mar 31 2018	n/a	n/a	-US$8m
Dec 31 2017	US$1m	US$278k	-US$13m
Sep 30 2017	n/a	n/a	-US$48m
Jun 30 2017	n/a	n/a	-US$53m
Mar 31 2017	n/a	n/a	-US$47m
Dec 31 2016	US$1m	US$235k	-US$55m

Compensation vs Market: Robert's total compensation ($USD4.26M) is above average for companies of similar size in the German market ($USD2.43M).

Compensation vs Earnings: Robert's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Robert Anderson (61 yo)

5.6yrs

Tenure

US$4,257,836

Compensation

Mr. Robert J. Anderson has been the President of Earthstone Energy, Inc. since April 2, 2018 and serves as its Chief Executive Officer since April 01, 2020 and serves as its Director since July 20, 2021. H...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Frank Lodzinski	Executive Chairman	8.9yrs	no data	0.16% € 4.5m
Robert Anderson	President	5.6yrs	US$4.26m	0.66% € 18.7m
Mark Lumpkin	Executive VP & CFO	6.3yrs	US$2.66m	0.23% € 6.5m
Steven Collins	Executive VP & COO	8.9yrs	US$2.66m	0.38% € 10.6m
Tony Oviedo	Executive Vice President of Accounting & Administration	6.8yrs	US$2.66m	0.11% € 3.1m
Timothy Merrifield	Executive Vice President of Geology & Geophysics	8.9yrs	US$2.66m	0.44% € 12.3m
Clay Jeansonne	Director of Investor Relations	no data	no data	no data
Robert Hunt	Executive VP	1.6yrs	no data	no data
Leonard Wood	Vice President of Exploration & Development	5.7yrs	no data	no data
Scott Thelander	VP of Finance & Treasurer	less than a year	no data	no data

5.7yrs

Average Tenure

61yo

Average Age

Experienced Management: BSC2's management team is seasoned and experienced (5.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Frank Lodzinski	Executive Chairman	8.9yrs	no data	0.16% € 4.5m
Robert Anderson	President	2.3yrs	US$4.26m	0.66% € 18.7m
Phillip Kramer	Independent Director	7.1yrs	US$289.90k	0.11% € 3.1m
Ray Singleton	Director	34.3yrs	US$234.90k	0.59% € 16.5m
Jay Joliat	Independent Director	8.9yrs	US$304.90k	0.22% € 6.2m
Frost Cochran	Independent Director	1.6yrs	no data	no data
Robert Zorich	Director	8.9yrs	no data	no data
Douglas Swanson	Director	1.4yrs	no data	no data
Zachary Urban	Independent Director	8.9yrs	US$289.90k	0.076% € 2.1m
Brad Thielemann	Director	8.9yrs	no data	no data
David Habachy	Independent Director	2.8yrs	US$106.25k	0.011% € 315.4k

8.9yrs

Average Tenure

61yo

Average Age

Experienced Board: BSC2's board of directors are considered experienced (8.9 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2023/11/02 08:56
End of Day Share Price	2023/10/31 00:00
Earnings	2023/09/30
Annual Earnings	2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Earthstone Energy, Inc. is covered by 25 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jeffrey Campbell	Alliance Global Partners
Joseph Allman	Baird
Subhasish Chandra	Benchmark Company

Earthstone Energy Management

Management criteria checks 2/4

Key information

Recent management updates

Insider recently sold €424k worth of stock

Less than half of directors are independent

President recently bought €109k worth of stock

Insider recently sold €794k worth of stock

Insider recently sold €779k worth of stock

Independent Director recently bought €232k worth of stock

Recent updates

Earthstone Energy, Inc. Files Form 15

Permian Resources Corporation (NYSE:PR) completed the acquisition of Earthstone Energy, Inc. from EnCap Capital Energy Fund XI, L.P, managed by EnCap Investments L.P. and others.

Third quarter 2023 earnings released: EPS: US$0.58 (vs US$2.01 in 3Q 2022)

Earthstone Energy, Inc. Declares A Cash Dividend on Class A and Class B Common Stock, Payable on November 6, 2023

Insider recently sold €424k worth of stock

Investor sentiment improves as stock rises 21%

Permian Resources Corporation (NYSE:PR) entered into a definitive agreement to acquire Earthstone Energy, Inc. (NYSE:ESTE) from EnCap Investments L.P. and others for approximately $2.7 billion.

Second quarter 2023 earnings released: EPS: US$0.55 (vs US$1.85 in 2Q 2022)

Earthstone Energy, Inc. Provides Production Guidance for the Third Quarter, Fourth Quarter and Full Year of 2023

New major risk - Revenue and earnings growth

New major risk - Revenue and earnings growth

Earthstone Energy, Inc.(NYSE:ESTE) dropped from Russell Small Cap Comp Growth Index

Earthstone Energy, Inc. (NYSE:ESTE) entered into an agreement to acquire Novo Oil & Gas Holdings, LLC from EnCap Investments L.P. and others for $1.5 billion.

First quarter 2023 earnings released: EPS: US$0.57 (vs US$0.53 loss in 1Q 2022)

Less than half of directors are independent

President recently bought €109k worth of stock

Full year 2022 earnings released: EPS: US$5.12 (vs US$0.75 in FY 2021)

Now 22% undervalued

Black Mountain Energy Ltd (ASX:BME) acquired 8 Operating Wells And Leases in Permian Basin from Earthstone Energy, Inc. (NYSE:ESTE).

Earthstone Energy, Inc. Provides Production Guidance for the Year 2023

Now 24% undervalued after recent price drop

Black Mountain Energy Ltd entered into an agreement to acquire 8 Operating Wells And Leases in Permian Basin from Earthstone Energy Inc for $2 million.

Black Mountain Energy Ltd entered into an agreement to acquire 8 Operating Wells And Leases in Permian Basin from Earthstone Energy Inc for $2 million.

Investor sentiment deteriorated over the past week

Insider recently sold €794k worth of stock

Insider recently sold €779k worth of stock

Third quarter 2022 earnings released: EPS: US$2.01 (vs US$0.21 in 3Q 2021)

Earthstone Energy, Inc. Provides Production Guidance for the Fourth Quarter of 2022

Earthstone Energy, Inc. to Report Q3, 2022 Results on Nov 03, 2022

Earthstone Energy, Inc. (NYSE:ESTE) announces an Equity Buyback for 3,000,000 shares, for $44 million.

Investor sentiment improved over the past week

Investor sentiment improved over the past week

Earthstone Energy, Inc. Provides Production Guidance for the Third Quarter, Fourth Quarter and Full Year of 2022

Second quarter 2022 earnings released: EPS: US$1.85 (vs US$0.20 loss in 2Q 2021)

Earthstone Energy, Inc. to Report Q2, 2022 Results on Aug 05, 2022

Independent Director recently bought €232k worth of stock

Earthstone Energy, Inc. (NYSE:ESTE) entered into an agreement to acquire New Mexico assets of Titus Oil & Gas Production, LLC and Titus Oil & Gas Production II, LLC for approximately $630 million.

Earthstone Energy, Inc.(NYSE:ESTE) dropped from Russell 2000 Value Index

Earthstone Energy, Inc. Elects Douglas E. Swanson, Jr. as Class I Director

First quarter 2022 earnings released: US$0.53 loss per share (vs US$0.14 loss in 1Q 2021)

Earthstone Energy, Inc., Annual General Meeting, Jun 09, 2022

Less than half of directors are independent

Less than half of directors are independent

Insider recently sold €631k worth of stock

Investor sentiment deteriorated over the past week

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Earthstone Energy, Inc. to Report Q4, 2021 Results on Mar 10, 2022

Earthstone Energy, Inc. (NYSE:ESTE) completed the acquisition of the assets located in the northern Delaware Basin of New Mexico of Chisholm Energy Holdings.

Earthstone Energy, Inc. announced that it expects to receive $280 million in funding from EnCap Investments L.P., Post Oak Energy Capital, LP

Earthstone Energy, Inc. (NYSE:ESTE) entered into an agreement to acquire assets of Bighorn Permian Resources, LLC for approximately $860 million.

Earthstone Energy, Inc. (NYSE:ESTE) entered into an agreement to acquire the assets located in the northern Delaware Basin of New Mexico of Chisholm Energy Holdings, LLC for approximately $600 million.

Third quarter 2021 earnings released: EPS US$0.21 (vs US$0.18 loss in 3Q 2020)

Second quarter 2021 earnings released: US$0.20 loss per share (vs US$0.55 loss in 2Q 2020)

Earthstone Energy, Inc. (NYSE:ESTE) acquired additional 62% stake in Assets in Southern Gonzales County, Texas from Titanium Exploration Partners, LLC and others for $48 million.

First quarter 2021 earnings released: US$0.14 loss per share (vs US$0.57 profit in 1Q 2020)

Insider recently sold €171k worth of stock

Revenue misses expectations

Full year 2020 earnings released: US$0.45 loss per share (vs US$0.025 profit in FY 2019)

Earthstone Energy, Inc. to Report Q4, 2020 Results on Mar 11, 2021

New 90-day high: €5.65

Executive VP & CFO recently sold €154k worth of stock

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members