SRC Energy (SRCI) Stock Rating Lowered by Royal Bank of Canada

SRC Energy (NYSEAMERICAN:SRCI) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report released on Friday, January 5th, Marketbeat Ratings reports.

SRCI has been the topic of a number of other research reports. KeyCorp reissued a “buy” rating and set a $10.00 price objective on shares of SRC Energy in a report on Tuesday, September 19th. Jefferies Group initiated coverage on shares of SRC Energy in a report on Monday, October 9th. They set a “buy” rating and a $12.00 price objective on the stock. Stifel Nicolaus set a $10.00 price objective on shares of SRC Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. BidaskClub raised shares of SRC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Finally, Roth Capital reissued a “buy” rating and set a $11.00 price objective on shares of SRC Energy in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. SRC Energy presently has a consensus rating of “Buy” and a consensus target price of $11.88.

Shares of SRC Energy (SRCI) traded up $0.45 during trading on Friday, reaching $9.95. 11,632,555 shares of the company’s stock traded hands, compared to its average volume of 3,193,007. The company has a market cap of $2,260.00, a price-to-earnings ratio of 20.73 and a beta of 1.55. SRC Energy has a 12-month low of $6.19 and a 12-month high of $10.44.

SRC Energy (NYSEAMERICAN:SRCI) last posted its earnings results 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 net margin of 42.33% and a return on equity of 19.16%. The business had revenue of $103.59 million for the quarter, compared to analyst estimates of $99.64 million.

Institutional investors and hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC grew its stake in shares of SRC Energy by 11.6% in the fourth quarter. Fisher Asset Management LLC now owns 309,462 shares of the oil and natural gas company’s stock valued at $2,640,000 after buying an additional 32,080 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of SRC Energy by 11.2% in the fourth quarter. Texas Permanent School Fund now owns 163,138 shares of the oil and natural gas company’s stock valued at $1,392,000 after buying an additional 16,492 shares in the last quarter. James Investment Research Inc. bought a new position in shares of SRC Energy in the fourth quarter valued at $1,595,000. State of Alaska Department of Revenue grew its stake in shares of SRC Energy by 20.6% in the fourth quarter. State of Alaska Department of Revenue now owns 48,083 shares of the oil and natural gas company’s stock valued at $410,000 after buying an additional 8,210 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of SRC Energy by 16.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,118,763 shares of the oil and natural gas company’s stock valued at $9,544,000 after buying an additional 154,113 shares in the last quarter.

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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.

Analyst Recommendations for SRC Energy (NYSEAMERICAN:SRCI)

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