SRC Energy (NYSEAMERICAN:SRCI) had its price target decreased by investment analysts at Robert W. Baird from $12.00 to $11.00 in a research report issued on Monday, December 18th, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the oil and natural gas company’s stock. Robert W. Baird’s price objective suggests a potential upside of 22.22% from the stock’s current price.
A number of other research firms also recently commented on SRCI. Roth Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of SRC Energy in a report on Monday, October 2nd. BidaskClub raised SRC Energy from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Imperial Capital reaffirmed an “outperform” rating and set a $13.00 target price (up previously from $11.00) on shares of SRC Energy in a report on Monday, November 13th. BMO Capital Markets set a $10.00 target price on SRC Energy and gave the stock a “hold” rating in a report on Tuesday, October 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $12.00 target price (up previously from $11.00) on shares of SRC Energy in a report on Saturday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. SRC Energy currently has an average rating of “Buy” and an average price target of $11.88.
SRC Energy (NYSEAMERICAN:SRCI) traded up $0.02 during trading hours on Monday, reaching $9.00. The company’s stock had a trading volume of 2,870,000 shares, compared to its average volume of 2,880,000. SRC Energy has a 52 week low of $6.19 and a 52 week high of $10.22. The company has a market cap of $2,170.00, a P/E ratio of 18.75 and a beta of 1.55.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in 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 period. JPMorgan Chase & Co. increased its position in SRC Energy by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,864,084 shares of the oil and natural gas company’s stock valued at $113,776,000 after acquiring an additional 129,611 shares during the period. Vanguard Group Inc. increased its position in 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 period. Dimensional Fund Advisors LP increased its position in SRC Energy by 18.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,659,732 shares of the oil and natural gas company’s stock valued at $103,079,000 after acquiring an additional 1,690,467 shares during the period. Finally, Victory Capital Management Inc. increased its position in SRC Energy by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 10,546,990 shares of the oil and natural gas company’s stock valued at $101,989,000 after acquiring an additional 197,540 shares during the period.
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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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