SRC Energy (SRCI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of SRC Energy (NYSEAMERICAN:SRCI) from a strong-buy rating to a hold rating in a research note released on Wednesday.

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. “

Other analysts have also issued research reports about the stock. Imperial Capital reiterated an outperform rating and issued a $16.00 target price (up previously from $14.00) on shares of SRC Energy in a research note 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 target price for the company in a research note on Wednesday, January 31st. Royal Bank of Canada lowered shares of SRC Energy from an outperform rating to a sector perform rating in a research note on Friday, January 5th. SunTrust Banks reiterated a buy rating and issued a $12.00 target price on shares of SRC Energy in a research note on Friday, October 27th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $14.00 target price on shares of SRC Energy in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $12.13.

Shares of SRC Energy (NYSEAMERICAN:SRCI) opened at $8.66 on Wednesday. The company has a market cap of $2,150.00, a price-to-earnings ratio of 18.10 and a beta of 1.57. SRC Energy has a one year low of $6.19 and a one year high of $10.44.

Several large investors have recently modified their holdings of the stock. Carnick & Kubik Group LLC purchased a new stake in SRC Energy during the third quarter valued at about $106,000. Cubist Systematic Strategies LLC purchased a new stake in SRC Energy during the third quarter valued at about $109,000. Allen Capital Group LLC purchased a new stake in SRC Energy during the fourth quarter valued at about $113,000. Ameritas Investment Partners Inc. lifted its holdings in SRC Energy by 9.9% during 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 purchasing an additional 1,584 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in SRC Energy during the second quarter valued at about $133,000.

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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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