OppenheimerFunds Inc. increased its holdings in shares of SRC Energy Inc (NYSEAMERICAN:SRCI) by 181.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,041 shares of the oil and natural gas company’s stock after purchasing an additional 34,850 shares during the quarter. OppenheimerFunds Inc.’s holdings in SRC Energy were worth $461,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of SRCI. Cubist Systematic Strategies LLC acquired a new stake in SRC Energy in the third quarter valued at approximately $109,000. Atria Investments LLC acquired a new stake in SRC Energy in the fourth quarter valued at approximately $135,000. Private Advisor Group LLC acquired a new stake in SRC Energy in the third quarter valued at approximately $163,000. CIBC Asset Management Inc grew its position in SRC Energy by 69.4% in the fourth quarter. CIBC Asset Management Inc now owns 29,511 shares of the oil and natural gas company’s stock valued at $252,000 after acquiring an additional 12,091 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in SRC Energy in the third quarter valued at approximately $343,000.
SRCI has been the subject of several recent research reports. Credit Suisse Group initiated coverage on shares of SRC Energy in a research report on Monday, December 11th. They issued an “underperform” rating and a $8.00 price objective for the company. Robert W. Baird lowered their price objective 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. Royal Bank of Canada downgraded shares of SRC Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $14.00 price objective on shares of SRC Energy in a research report on Tuesday, January 9th. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $16.00 price objective (up previously from $14.00) on shares of SRC Energy in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.53.
SRC Energy Inc (SRCI) opened at $9.31 on Friday. The company has a market capitalization of $2,220.00, a P/E ratio of 13.69 and a beta of 1.62. SRC Energy Inc has a one year low of $6.19 and a one year high of $10.44.
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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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