California State Teachers Retirement System decreased its stake in SRC Energy Inc (NYSEAMERICAN:SRCI) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.16% of SRC Energy worth $3,110,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC acquired a new position in SRC Energy in the third quarter valued at about $106,000. Miller Howard Investments Inc. NY acquired a new position in SRC Energy in the third quarter valued at about $168,000. Ameritas Investment Partners Inc. grew its stake 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 valued at $119,000 after acquiring an additional 1,584 shares during the period. GSA Capital Partners LLP acquired a new position in shares of SRC Energy during the second quarter worth about $133,000. Finally, Shelton Capital Management acquired a new position in shares of SRC Energy during the second quarter worth about $134,000.
Several research firms have recently weighed in on SRCI. Piper Jaffray Companies reaffirmed a “buy” rating and set a $14.00 price objective on shares of SRC Energy in a research report on Tuesday, January 9th. Royal Bank of Canada cut SRC Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 5th. Robert W. Baird reduced their price target on SRC Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Monday, December 18th. Credit Suisse Group began coverage on SRC Energy in a research note on Monday, December 11th. They issued an “underperform” rating and a $8.00 price objective on the stock. Finally, BMO Capital Markets set a $10.00 price objective on SRC Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $11.88.
SRC Energy Inc (NYSEAMERICAN:SRCI) opened at $9.06 on Thursday. The stock has a market capitalization of $2,170.00, a price-to-earnings ratio of 18.88 and a beta of 1.55. SRC Energy Inc has a 12-month low of $6.19 and a 12-month high of $10.22.
SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings data on Wednesday, November 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. SRC Energy had a return on equity of 19.16% and a net margin of 42.33%. The firm had revenue of $103.59 million during the quarter, compared to analyst estimates of $99.64 million.
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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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