SRC Energy Inc (NYSEAMERICAN:SRCI) has earned an average recommendation of “Buy” from the twenty research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $12.63.
Several equities research analysts have weighed in on SRCI shares. Credit Suisse Group started coverage on SRC Energy in a report on Monday, December 11th. They set an “underperform” rating and a $8.00 price target on the stock. 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 report on Saturday, February 3rd. Robert W. Baird dropped their price objective on SRC Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Monday, December 18th. Piper Jaffray reiterated a “buy” rating and issued a $14.00 price objective on shares of SRC Energy in a report on Tuesday, January 9th. Finally, Jefferies Group set a $13.00 price objective on SRC Energy and gave the company a “buy” rating in a report on Monday, March 19th.
NYSEAMERICAN SRCI traded down $0.30 during trading hours on Friday, hitting $8.95. 2,340,549 shares of the company were exchanged, compared to its average volume of 2,710,043. SRC Energy has a 52-week low of $6.19 and a 52-week high of $10.44.
SRC Energy (NYSEAMERICAN:SRCI) last issued 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). 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 analysts’ expectations of $133.72 million.
A number of large investors have recently added to or reduced their stakes in the stock. CoreCommodity Management LLC grew its stake in SRC Energy by 18.9% during the 4th quarter. CoreCommodity Management LLC now owns 41,635 shares of the oil and natural gas company’s stock worth $355,000 after buying an additional 6,607 shares during the last quarter. Amalgamated Bank grew its stake in SRC Energy by 24.5% during the 4th quarter. Amalgamated Bank now owns 33,727 shares of the oil and natural gas company’s stock worth $288,000 after buying an additional 6,643 shares during the last quarter. M&T Bank Corp grew its stake in SRC Energy by 18.4% during the 4th quarter. M&T Bank Corp now owns 48,764 shares of the oil and natural gas company’s stock worth $416,000 after buying an additional 7,568 shares during the last quarter. Rhumbline Advisers grew its stake in SRC Energy by 2.0% during the 3rd quarter. Rhumbline Advisers now owns 408,559 shares of the oil and natural gas company’s stock worth $3,951,000 after buying an additional 7,920 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its stake in SRC Energy by 4.6% during the 4th quarter. State of Tennessee Treasury Department now owns 186,027 shares of the oil and natural gas company’s stock worth $1,587,000 after buying an additional 8,139 shares during the last quarter.
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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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