SRC Energy (NYSEAMERICAN:SRCI) – Equities research analysts at Capital One Financial decreased their Q1 2018 earnings per share (EPS) estimates for SRC Energy in a note issued to investors on Thursday, April 12th. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will post earnings per share of $0.30 for the quarter, down from their previous forecast of $0.34. Capital One Financial also issued estimates for SRC Energy’s Q2 2018 earnings at $0.28 EPS and FY2018 earnings at $1.31 EPS.
SRCI has been the subject of a number of other reports. Credit Suisse Group upgraded SRC Energy from an “underperform” rating to a “neutral” rating and set a $8.00 price objective for the company in a report on Wednesday, January 31st. Citigroup dropped their target price on SRC Energy from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Tuesday, February 13th. Zacks Investment Research upgraded SRC Energy from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a report on Saturday, February 3rd. Stifel Nicolaus set a $13.00 target price on SRC Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Finally, Imperial Capital restated an “outperform” rating and set a $16.00 target price (up from $14.00) on shares of SRC Energy in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $12.58.
SRCI opened at $9.89 on Monday. SRC Energy has a 12-month low of $6.19 and a 12-month high of $10.44.
SRC Energy (NYSEAMERICAN:SRCI) last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.03). SRC Energy had a return on equity of 18.08% and a net margin of 36.53%. The business had revenue of $140.10 million during the quarter, compared to the consensus estimate of $133.72 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in SRC Energy during the 3rd quarter valued at approximately $109,000. Allen Capital Group LLC bought a new position in SRC Energy during the 4th quarter valued at approximately $113,000. Financial Gravity Companies Inc. bought a new position in shares of SRC Energy in the 4th quarter worth approximately $133,000. Atria Investments LLC bought a new position in shares of SRC Energy in the 4th quarter worth approximately $135,000. Finally, LPL Financial LLC bought a new position in shares of SRC Energy in the 4th quarter worth approximately $139,000.
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About SRC Energy
SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.
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