South Dakota Investment Council cut its holdings in SRC Energy (NYSEAMERICAN:SRCI) by 20.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 165,800 shares of the oil and natural gas company’s stock after selling 42,400 shares during the period. South Dakota Investment Council owned 0.07% of SRC Energy worth $1,563,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Quantitative Systematic Strategies LLC purchased a new stake in shares of SRC Energy during the 1st quarter valued at $107,000. Dearborn Partners LLC purchased a new stake in shares of SRC Energy during the 1st quarter valued at $108,000. Allen Capital Group LLC purchased a new stake in shares of SRC Energy during the 4th quarter valued at $113,000. Private Advisor Group LLC purchased a new stake in shares of SRC Energy during the 1st quarter valued at $131,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of SRC Energy during the 4th quarter valued at $133,000.
A number of analysts recently weighed in on the stock. Stephens reaffirmed a “buy” rating and set a $14.00 price target on shares of SRC Energy in a research report on Thursday, March 15th. Zacks Investment Research cut shares of SRC Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Jefferies Group set a $13.00 price target on shares of SRC Energy and gave the stock a “buy” rating in a research report on Monday, March 19th. Imperial Capital reaffirmed an “outperform” rating and set a $16.00 price target (up from $14.00) on shares of SRC Energy in a research report on Thursday, February 1st. Finally, Capital One cut shares of SRC Energy from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $12.09.
Shares of SRC Energy opened at $12.14 on Friday, Marketbeat.com reports. SRC Energy has a 1 year low of $6.19 and a 1 year high of $13.16.
SRC Energy (NYSEAMERICAN:SRCI) last issued its earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $147.23 million for the quarter, compared to analyst estimates of $146.40 million. SRC Energy had a net margin of 36.53% and a return on equity of 18.08%.
SRC Energy Company Profile
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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