Goldman Sachs Group Inc. increased its holdings in shares of SRC Energy Inc (NYSEAMERICAN:SRCI) by 56.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,387,223 shares of the oil and natural gas company’s stock after buying an additional 3,037,992 shares during the quarter. Goldman Sachs Group Inc. owned 3.48% of SRC Energy worth $71,543,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of SRCI. Cubist Systematic Strategies LLC acquired a new stake in shares of SRC Energy in the third quarter worth about $109,000. Allen Capital Group LLC acquired a new position in shares of SRC Energy during the 4th quarter worth about $113,000. Financial Gravity Companies Inc. acquired a new position in shares of SRC Energy during the 4th quarter worth about $133,000. Atria Investments LLC acquired a new position in shares of SRC Energy during the 4th quarter worth about $135,000. Finally, Private Advisor Group LLC bought a new position in SRC Energy during the third quarter valued at about $163,000.
NYSEAMERICAN:SRCI traded down $0.30 during mid-day trading on Friday, hitting $8.95. The stock had a trading volume of 2,340,549 shares, compared to its average volume of 2,710,043. SRC Energy Inc has a twelve month low of $6.19 and a twelve month high of $10.44.
SRC Energy (NYSEAMERICAN:SRCI) last issued its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.03). SRC Energy had a return on equity of 18.08% and a net margin of 36.53%. The company had revenue of $140.10 million for the quarter, compared to analyst estimates of $133.72 million.
SRCI has been the topic of several analyst reports. Imperial Capital reiterated an “outperform” rating and issued a $16.00 price objective (up from $14.00) on shares of SRC Energy in a research note on Thursday, February 1st. Credit Suisse Group upgraded SRC Energy from an “underperform” rating to a “neutral” rating and set a $8.00 price objective on the stock in a research note on Wednesday, January 31st. Stifel Nicolaus set a $13.00 price target on SRC Energy and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Jefferies Group set a $13.00 price target on SRC Energy and gave the stock a “buy” rating in a research report on Monday, March 19th. Finally, Zacks Investment Research upgraded SRC Energy from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research report on Saturday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.58.
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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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