SRC Energy Inc (NYSEAMERICAN:SRCI) – SunTrust Banks lowered their FY2019 EPS estimates for shares of SRC Energy in a note issued to investors on Tuesday, October 30th. SunTrust Banks analyst W. Fitzpatrick now forecasts that the oil and natural gas company will post earnings per share of $1.18 for the year, down from their previous forecast of $1.19. SunTrust Banks also issued estimates for SRC Energy’s Q1 2020 earnings at $0.32 EPS.
Several other analysts also recently commented on the company. Jefferies Financial Group set a $15.00 price objective on SRC Energy and gave the company a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research raised SRC Energy from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, July 13th. Roth Capital raised SRC Energy from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Thursday, October 18th. KLR Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of SRC Energy in a research note on Monday, August 20th. Finally, Robert W. Baird downgraded SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 price objective for the company. in a research note on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. SRC Energy presently has an average rating of “Hold” and an average target price of $12.66.
SRC Energy stock opened at $7.23 on Friday. SRC Energy has a fifty-two week low of $6.68 and a fifty-two week high of $13.32.
SRC Energy (NYSEAMERICAN:SRCI) last posted its earnings results on Wednesday, October 31st. The oil and natural gas company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The firm had revenue of $160.98 million during the quarter, compared to analysts’ expectations of $155.20 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Delphi Management Inc. MA acquired a new stake in shares of SRC Energy in the 2nd quarter worth approximately $128,000. Envestnet Asset Management Inc. acquired a new stake in SRC Energy during the 2nd quarter valued at $126,000. Cim Investment Mangement Inc. acquired a new stake in SRC Energy during the 2nd quarter valued at $138,000. Allen Capital Group LLC acquired a new stake in SRC Energy during the 3rd quarter valued at $144,000. Finally, Chicago Equity Partners LLC acquired a new stake in SRC Energy during the 2nd quarter valued at $199,000.
In other news, CEO Lynn A. Peterson purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average price of $9.26 per share, for a total transaction of $185,200.00. Following the acquisition, the chief executive officer now directly owns 626,591 shares in the company, valued at approximately $5,802,232.66. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James P. Henderson purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was purchased at an average price of $9.26 per share, for a total transaction of $92,600.00. Following the acquisition, the chief financial officer now owns 252,412 shares in the company, valued at $2,337,335.12. The disclosure for this purchase can be found here.
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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