SRC Energy Inc (SRCI) Short Interest Update

SRC Energy Inc (NYSEAMERICAN:SRCI) saw a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 32,408,558 shares, a decline of 5.6% from the December 15th total of 34,330,460 shares. Based on an average daily volume of 2,473,485 shares, the days-to-cover ratio is presently 13.1 days. Currently, 13.6% of the company’s stock are sold short.

Shares of SRC Energy (NYSEAMERICAN SRCI) opened at $9.00 on Friday. The firm has a market capitalization of $2,170.00, a price-to-earnings ratio of 18.75 and a beta of 1.55. SRC Energy has a 12 month low of $6.19 and a 12 month high of $10.22.

A number of institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. raised its stake in SRC Energy by 9.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock valued at $119,000 after acquiring an additional 1,584 shares in the last quarter. Amalgamated Bank raised its stake in SRC Energy by 9.1% during the 2nd quarter. Amalgamated Bank now owns 27,551 shares of the oil and natural gas company’s stock valued at $185,000 after acquiring an additional 2,305 shares in the last quarter. Principal Financial Group Inc. raised its stake in SRC Energy by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,552,481 shares of the oil and natural gas company’s stock valued at $10,448,000 after acquiring an additional 4,354 shares in the last quarter. Isthmus Partners LLC raised its stake in SRC Energy by 6.6% during the 2nd quarter. Isthmus Partners LLC now owns 78,564 shares of the oil and natural gas company’s stock valued at $529,000 after acquiring an additional 4,858 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in SRC Energy by 7.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 109,588 shares of the oil and natural gas company’s stock valued at $738,000 after acquiring an additional 7,423 shares in the last quarter.

Several brokerages have recently commented on SRCI. BidaskClub upgraded SRC Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $14.00 target price on shares of SRC Energy in a research report on Tuesday. Imperial Capital reiterated an “outperform” rating on shares of SRC Energy in a research report on Thursday, September 28th. Stephens reiterated an “overweight” rating and issued a $12.00 target price (up previously from $11.00) on shares of SRC Energy in a research report on Saturday, September 30th. Finally, Stifel Nicolaus set a $10.00 target price on SRC Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.88.

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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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