BMO Capital Markets Analysts Give SRC Energy Inc (SRCI) a $10.00 Price Target

BMO Capital Markets set a $10.00 target price on SRC Energy Inc (NASDAQ:SRCI) in a research note released on Tuesday morning. The brokerage currently has a hold rating on the oil and natural gas company’s stock.

Several other research firms have also weighed in on SRCI. Stephens reaffirmed an overweight rating and issued a $12.00 price objective (up from $11.00) on shares of SRC Energy in a research note on Saturday, September 30th. Roth Capital reaffirmed a buy rating and issued a $11.00 price objective on shares of SRC Energy in a research note on Monday, October 2nd. Stifel Nicolaus set a $10.00 price objective on SRC Energy and gave the company a buy rating in a research note on Thursday, October 5th. Royal Bank Of Canada reaffirmed a buy rating and issued a $13.00 price objective on shares of SRC Energy in a research note on Thursday, October 5th. Finally, Jefferies Group LLC began coverage on SRC Energy in a research note on Monday. They issued a buy rating and a $12.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $11.63.

SRC Energy (SRCI) traded up 0.378% on Tuesday, reaching $9.305. 555,868 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $7.96 and a 200-day moving average price of $7.58. The company has a market capitalization of $1.87 billion and a PE ratio of 55.059. SRC Energy has a 1-year low of $6.19 and a 1-year high of $10.38.

SRC Energy (NASDAQ:SRCI) last released its quarterly earnings data on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $75.04 million for the quarter, compared to analyst estimates of $68.08 million. SRC Energy had a return on equity of 12.75% and a net margin of 37.23%. On average, equities research analysts anticipate that SRC Energy will post $0.59 earnings per share for the current year.

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A number of hedge funds have recently bought and sold shares of SRCI. BlackRock Inc. increased its holdings in shares of SRC Energy by 1.6% in the 2nd quarter. BlackRock Inc. now owns 24,464,771 shares of the oil and natural gas company’s stock valued at $164,648,000 after acquiring an additional 395,846 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of SRC Energy by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,734,473 shares of the oil and natural gas company’s stock valued at $78,972,000 after acquiring an additional 1,420,495 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of SRC Energy by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 10,901,745 shares of the oil and natural gas company’s stock valued at $73,369,000 after acquiring an additional 558,923 shares during the last quarter. Fine Capital Partners L.P. increased its holdings in shares of SRC Energy by 21.5% in the 2nd quarter. Fine Capital Partners L.P. now owns 10,234,909 shares of the oil and natural gas company’s stock valued at $68,881,000 after acquiring an additional 1,813,361 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of SRC Energy in the 1st quarter valued at approximately $77,595,000.

About SRC Energy

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.

Analyst Recommendations for SRC Energy (NASDAQ:SRCI)

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