California State Teachers Retirement System cut its stake in shares of SRC Energy Inc (NYSEAMERICAN:SRCI) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 321,664 shares of the oil and natural gas company’s stock after selling 34,380 shares during the quarter. California State Teachers Retirement System owned 0.16% of SRC Energy worth $3,110,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Carnick & Kubik Group LLC purchased a new position in SRC Energy in the third quarter worth $106,000. Ameritas Investment Partners Inc. raised its position in SRC Energy by 9.9% in the second quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock worth $119,000 after acquiring an additional 1,584 shares in the last quarter. GSA Capital Partners LLP purchased a new position in SRC Energy in the second quarter worth $133,000. Shelton Capital Management purchased a new position in SRC Energy in the second quarter worth $134,000. Finally, Riverhead Capital Management LLC raised its position in SRC Energy by 80.4% in the second quarter. Riverhead Capital Management LLC now owns 22,013 shares of the oil and natural gas company’s stock worth $148,000 after acquiring an additional 9,813 shares in the last quarter.
A number of research analysts have recently weighed in on the company. SunTrust Banks restated a “buy” rating and issued a $12.00 price target on shares of SRC Energy in a research report on Friday, October 27th. BidaskClub cut SRC Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Stephens restated an “overweight” rating and issued a $12.00 price target (up previously from $11.00) on shares of SRC Energy in a research report on Saturday, September 30th. Imperial Capital assumed coverage on SRC Energy in a research report on Thursday, September 28th. They issued an “outperform” rating and a $11.00 price target for the company. Finally, Royal Bank of Canada restated a “buy” rating and issued a $13.00 price target on shares of SRC Energy in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $11.88.
Shares of SRC Energy Inc (SRCI) opened at $8.85 on Thursday. The stock has a market capitalization of $2,120.00, a PE ratio of 18.44 and a beta of 1.55. SRC Energy Inc has a 52 week low of $6.19 and a 52 week high of $10.22.
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SRC Energy 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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