SRC Energy (NYSEAMERICAN:SRCI) had its price target reduced by investment analysts at Citigroup from $10.00 to $9.50 in a research report issued on Tuesday. The firm presently has a “neutral” rating on the oil and natural gas company’s stock. Citigroup’s price objective would suggest a potential upside of 9.07% from the company’s current price.
Several other research analysts also recently weighed in on the company. SunTrust Banks restated a “buy” rating and set a $12.00 target price on shares of SRC Energy in a research note on Friday, October 27th. BidaskClub downgraded SRC Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded SRC Energy from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Saturday, October 28th. Royal Bank of Canada restated a “buy” rating and set a $13.00 target price on shares of SRC Energy in a research note on Tuesday, November 7th. Finally, Robert W. Baird dropped their price target on SRC Energy from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $12.13.
Shares of SRC Energy (NYSEAMERICAN:SRCI) traded down $0.14 during trading hours on Tuesday, hitting $8.71. The stock had a trading volume of 193,705 shares, compared to its average volume of 2,895,995. SRC Energy has a twelve month low of $6.19 and a twelve month high of $10.44. The stock has a market cap of $2,110.00, a P/E ratio of 18.15 and a beta of 1.57.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRCI. Carnick & Kubik Group LLC purchased a new stake in SRC Energy during the 3rd quarter worth approximately $106,000. Cubist Systematic Strategies LLC purchased a new stake in SRC Energy during the 3rd quarter worth approximately $109,000. Allen Capital Group LLC purchased a new stake in SRC Energy during the 4th quarter worth approximately $113,000. Ameritas Investment Partners Inc. increased its stake in SRC Energy by 9.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock worth $119,000 after buying an additional 1,584 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in SRC Energy during the 2nd quarter worth approximately $133,000.
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About SRC Energy
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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