SRC Energy (NYSEAMERICAN:SRCI)‘s stock had its “buy” rating reaffirmed by investment analysts at Stephens in a research report issued on Thursday, March 15th. They currently have a $14.00 price objective on the oil and natural gas company’s stock. Stephens’ price objective would indicate a potential upside of 56.42% from the stock’s previous close.
A number of other brokerages have also issued reports on SRCI. Credit Suisse Group began coverage on shares of SRC Energy in a research report on Monday, December 11th. They set an “underperform” rating and a $8.00 target price on the stock. Robert W. Baird reduced their price target on shares of SRC Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, December 18th. 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. Piper Jaffray reiterated a “buy” rating and set a $14.00 price target on shares of SRC Energy in a research report on Tuesday, January 9th. Finally, Imperial Capital reiterated an “outperform” rating and set a $16.00 price target (up previously from $14.00) on shares of SRC Energy in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $12.58.
Shares of SRCI stock traded down $0.30 on Thursday, reaching $8.95. The stock had a trading volume of 2,340,549 shares, compared to its average volume of 2,710,043. SRC Energy has a 12 month low of $6.19 and a 12 month high of $10.44.
SRC Energy (NYSEAMERICAN:SRCI) last released its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.03). The company had revenue of $140.10 million during the quarter, compared to the consensus estimate of $133.72 million. SRC Energy had a net margin of 36.53% and a return on equity of 18.08%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in SRC Energy in the third quarter worth $109,000. Allen Capital Group LLC acquired a new stake in SRC Energy in the fourth quarter worth $113,000. Financial Gravity Companies Inc. acquired a new stake in SRC Energy in the fourth quarter worth $133,000. Atria Investments LLC acquired a new stake in SRC Energy in the fourth quarter worth $135,000. Finally, LPL Financial LLC acquired a new stake in SRC Energy in the fourth quarter worth $139,000.
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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.
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