Schroder Investment Management Group lessened its stake in shares of SRC Energy Inc (NYSEAMERICAN:SRCI) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,419,409 shares of the oil and natural gas company’s stock after selling 110,283 shares during the period. Schroder Investment Management Group owned approximately 1.00% of SRC Energy worth $26,371,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in SRCI. Copper Rock Capital Partners LLC purchased a new stake in SRC Energy during the 2nd quarter worth approximately $31,080,000. BlackRock Inc. grew its position in SRC Energy by 6.3% during the 2nd quarter. BlackRock Inc. now owns 33,684,662 shares of the oil and natural gas company’s stock worth $371,205,000 after purchasing an additional 1,991,238 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in SRC Energy during the 2nd quarter worth approximately $21,820,000. Fisher Asset Management LLC grew its position in SRC Energy by 493.8% during the 2nd quarter. Fisher Asset Management LLC now owns 1,875,474 shares of the oil and natural gas company’s stock worth $20,668,000 after purchasing an additional 1,559,623 shares during the last quarter. Finally, LSV Asset Management grew its position in SRC Energy by 34.3% during the 2nd quarter. LSV Asset Management now owns 5,338,357 shares of the oil and natural gas company’s stock worth $58,828,000 after purchasing an additional 1,363,454 shares during the last quarter.
SRCI opened at $8.57 on Friday. SRC Energy Inc has a 1 year low of $7.76 and a 1 year high of $13.32.
SRC Energy (NYSEAMERICAN:SRCI) last posted its earnings results on Wednesday, August 1st. The oil and natural gas company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. SRC Energy had a net margin of 36.53% and a return on equity of 18.08%. The firm had revenue of $147.09 million during the quarter, compared to analysts’ expectations of $144.87 million.
Several brokerages have commented on SRCI. Jefferies Financial Group set a $15.00 price objective on shares of SRC Energy and gave the company a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of SRC Energy from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, July 13th. Seaport Global Securities restated a “neutral” rating on shares of SRC Energy in a research note on Tuesday, July 24th. Robert W. Baird cut shares of SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 price objective for the company. in a research note on Tuesday, August 14th. Finally, KLR Group restated a “buy” rating and set a $15.00 price objective on shares of SRC Energy in a research note on Monday, August 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. SRC Energy currently has a consensus rating of “Hold” and a consensus price target of $12.78.
In related news, CFO James P. Henderson acquired 10,000 shares of SRC Energy stock in a transaction on Tuesday, August 14th. The stock was bought at an average cost of $9.26 per share, for a total transaction of $92,600.00. Following the completion of the transaction, the chief financial officer now owns 252,412 shares of the company’s stock, valued at approximately $2,337,335.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lynn A. Peterson acquired 20,000 shares of SRC Energy stock in a transaction on Tuesday, August 14th. The shares were bought at an average price of $9.26 per share, with a total value of $185,200.00. Following the completion of the transaction, the chief executive officer now directly owns 626,591 shares of the company’s stock, valued at approximately $5,802,232.66. The disclosure for this purchase can be found here.
SRC Energy Company Profile
SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.
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