SRC Energy Inc (NYSEAMERICAN:SRCI) – Equities research analysts at KeyCorp increased their FY2017 earnings per share (EPS) estimates for SRC Energy in a research note issued on Monday, according to Zacks Investment Research. KeyCorp analyst D. Deckelbaum now forecasts that the oil and natural gas company will post earnings of $0.70 per share for the year, up from their previous estimate of $0.69. KeyCorp also issued estimates for SRC Energy’s Q4 2017 earnings at $0.25 EPS, Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.85 EPS, Q1 2019 earnings at $0.29 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.33 EPS and FY2019 earnings at $1.21 EPS.
Several other equities research analysts also recently issued reports on SRCI. Citigroup reduced their price objective on SRC Energy from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday. Credit Suisse Group raised SRC Energy from an “underperform” rating to a “neutral” rating and set a $8.00 target price on the stock in a research report on Wednesday, January 31st. Imperial Capital reaffirmed an “outperform” rating and issued a $16.00 target price (up from $14.00) on shares of SRC Energy in a research report on Thursday, February 1st. Robert W. Baird dropped their target price on SRC Energy from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Finally, Zacks Investment Research raised SRC Energy from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Saturday, October 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.13.
Shares of SRC Energy (NYSEAMERICAN:SRCI) traded up $0.28 during trading on Tuesday, reaching $8.90. The company had a trading volume of 2,069,278 shares, compared to its average volume of 2,913,299. The stock has a market cap of $2,110.00, a P/E ratio of 17.96 and a beta of 1.57. SRC Energy has a 1 year low of $6.19 and a 1 year high of $10.44.
Hedge funds and other institutional investors have recently modified their holdings of the company. Carnick & Kubik Group LLC acquired a new position in shares of SRC Energy during the 3rd quarter valued at about $106,000. Cubist Systematic Strategies LLC acquired a new position in shares of SRC Energy during the 3rd quarter valued at about $109,000. Allen Capital Group LLC acquired a new position in shares of SRC Energy during the 4th quarter valued at about $113,000. Ameritas Investment Partners Inc. boosted 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 valued at $119,000 after purchasing an additional 1,584 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in SRC Energy during the 2nd quarter valued at 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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