Shares of SRC Energy Inc (NYSEAMERICAN:SRCI) traded up 11.2% during trading on Monday . The stock traded as high as $5.82 and last traded at $5.76, 9,687,639 shares were traded during mid-day trading. An increase of 102% from the average session volume of 4,788,363 shares. The stock had previously closed at $5.18.
Several analysts recently commented on the company. Capital One Financial upgraded SRC Energy from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 27th. KeyCorp initiated coverage on SRC Energy in a research note on Tuesday, May 28th. They issued an “overweight” rating and a $7.00 price target on the stock. Wells Fargo & Co reissued a “buy” rating on shares of SRC Energy in a research note on Monday, August 12th. Zacks Investment Research lowered SRC Energy from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 15th. Finally, Pivotal Research initiated coverage on SRC Energy in a research note on Wednesday, May 29th. They issued a “buy” rating and a $37.29 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $10.69.
SRC Energy (NYSEAMERICAN:SRCI) last announced its quarterly earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. The company had revenue of $162.60 million for the quarter, compared to the consensus estimate of $179.12 million.
A number of institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in SRC Energy in the 2nd quarter valued at $43,000. SRS Capital Advisors Inc. bought a new position in SRC Energy in the 2nd quarter valued at $49,000. Denali Advisors LLC bought a new position in SRC Energy in the 2nd quarter valued at $53,000. GAM Holding AG bought a new position in SRC Energy in the 2nd quarter valued at $54,000. Finally, Ellington Management Group LLC bought a new position in SRC Energy in the 2nd quarter valued at $57,000.
SRC Energy Company Profile (NYSEAMERICAN:SRCI)
SRC Energy Inc, an 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, 2018, it had net proved oil and natural gas reserves of 88 million barrels of oil and condensate, 771.9 billion cubic feet of natural gas, and 89.1 million barrels of natural gas liquids; and operated 985 net producing wells, as well as had 95,200 gross and 86,200 net acres under lease in the Wattenberg Field.
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