SRC Energy (NYSEAMERICAN:SRCI) Raised to “Strong-Buy” at Zacks Investment Research

SRC Energy (NYSEAMERICAN:SRCI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, February 3rd. The brokerage currently has a $11.00 price objective on the oil and natural gas company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 24.29% from the company’s current price.

According to Zacks, “SRC Energy Inc. is an oil and natural gas exploration and production company. It engages in the acquisition, development, exploitation, exploration and production of oil and natural gas properties, primarily located in the Wattenberg field in the D-J Basin of northeast Colorado. SRC Energy Inc., formerly known as Synergy Resources Corporation, is headquartered in Denver, CO. “

A number of other equities analysts have also commented on the stock. Imperial Capital restated an “outperform” rating and issued a $16.00 price objective (up from $14.00) on shares of SRC Energy in a research report on Thursday, February 1st. Credit Suisse Group upgraded shares of SRC Energy from an “underperform” rating to a “neutral” rating and set a $8.00 price objective for the company in a research report on Wednesday, January 31st. Piper Jaffray Companies restated a “buy” rating and issued a $14.00 price objective on shares of SRC Energy in a research report on Tuesday, January 9th. Royal Bank of Canada lowered shares of SRC Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 5th. Finally, Robert W. Baird dropped their target price on shares of SRC Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $12.08.

SRC Energy (NYSEAMERICAN SRCI) opened at $8.85 on Friday. SRC Energy has a 1 year low of $6.19 and a 1 year high of $10.44. The company has a market cap of $2,110.00, a P/E ratio of 18.44 and a beta of 1.57.

Several hedge funds have recently bought and sold shares of SRCI. Wells Fargo & Company MN raised its stake in shares of SRC Energy by 1.1% during the second quarter. Wells Fargo & Company MN now owns 683,976 shares of the oil and natural gas company’s stock worth $4,604,000 after acquiring an additional 7,775 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of SRC Energy by 10.9% during the second quarter. Teachers Advisors LLC now owns 361,574 shares of the oil and natural gas company’s stock worth $2,433,000 after acquiring an additional 35,517 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of SRC Energy by 7.3% during the second quarter. TIAA CREF Investment Management LLC now owns 540,489 shares of the oil and natural gas company’s stock worth $3,637,000 after acquiring an additional 36,802 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of SRC Energy by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 1,813,134 shares of the oil and natural gas company’s stock worth $12,202,000 after acquiring an additional 19,188 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of SRC Energy by 60.1% during the second quarter. Nationwide Fund Advisors now owns 208,014 shares of the oil and natural gas company’s stock worth $1,400,000 after acquiring an additional 78,107 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.

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