Shares of SRC Energy Inc (NASDAQ:SRCI) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $12.00.
A number of analysts recently issued reports on SRCI shares. Credit Suisse Group reaffirmed an “outperform” rating and issued a $10.00 target price on shares of SRC Energy in a research report on Friday, June 2nd. Wells Fargo & Company downgraded SRC Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $10.00 target price on shares of SRC Energy in a research report on Friday, July 14th. Roth Capital set a $11.00 price target on SRC Energy and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Scotiabank reissued a “buy” rating and set a $11.00 price target on shares of SRC Energy in a research report on Thursday, June 22nd.
In other news, COO Nicholas Spence acquired 8,000 shares of SRC Energy stock in a transaction dated Thursday, June 8th. The stock was bought at an average price of $6.45 per share, for a total transaction of $51,600.00. Following the completion of the acquisition, the chief operating officer now directly owns 108,222 shares in the company, valued at approximately $698,031.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Several large investors have recently modified their holdings of SRCI. OxFORD Asset Management LLP purchased a new stake in shares of SRC Energy during the second quarter worth about $2,225,000. Dimensional Fund Advisors LP boosted its stake in shares of SRC Energy by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,969,265 shares of the oil and natural gas company’s stock valued at $60,361,000 after buying an additional 1,351,188 shares during the period. Virtu KCG Holdings LLC bought a new stake in shares of SRC Energy during the second quarter valued at about $228,000. Parametric Portfolio Associates LLC boosted its stake in shares of SRC Energy by 24.2% in the second quarter. Parametric Portfolio Associates LLC now owns 245,521 shares of the oil and natural gas company’s stock valued at $1,652,000 after buying an additional 47,854 shares during the period. Finally, WealthPLAN Partners LLC bought a new stake in shares of SRC Energy during the second quarter valued at about $337,000.
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Shares of SRC Energy (SRCI) traded down 0.73% during mid-day trading on Tuesday, hitting $8.18. The stock had a trading volume of 3,451,304 shares. The firm’s 50-day moving average price is $7.50 and its 200 day moving average price is $7.73. SRC Energy has a 12-month low of $5.87 and a 12-month high of $10.38. The stock has a market cap of $1.64 billion and a price-to-earnings ratio of 48.40.
SRC Energy (NASDAQ:SRCI) last released its earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $75.04 million for the quarter, compared to the consensus estimate of $68.08 million. SRC Energy had a return on equity of 9.36% and a net margin of 44.12%. Equities analysts forecast that SRC Energy will post $0.59 EPS for the current fiscal year.
SRC Energy Company Profile
SRC Energy Inc, formerly Synergy Resources Corporation, is an independent oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.
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