JPMorgan Chase & Co. cut shares of SRC Energy (NYSEAMERICAN:SRCI) from an overweight rating to a neutral rating in a research report released on Friday, Marketbeat.com reports. The firm currently has $6.00 target price on the oil and natural gas company’s stock, down from their prior target price of $9.00.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut SRC Energy from a buy rating to a hold rating in a research note on Saturday, November 3rd. Roth Capital upgraded SRC Energy from a neutral rating to a buy rating and set a $12.00 price target for the company in a research note on Thursday, October 18th. Robert W. Baird upgraded SRC Energy from a neutral rating to an outperform rating and increased their price target for the company from $10.00 to $12.00 in a research note on Monday, October 15th. Finally, KLR Group reiterated a buy rating and issued a $15.00 price target on shares of SRC Energy in a research note on Monday, August 20th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $12.33.
SRC Energy stock traded up $0.06 during midday trading on Friday, reaching $5.24. The company’s stock had a trading volume of 2,776,516 shares, compared to its average volume of 3,107,126. SRC Energy has a 52-week low of $5.06 and a 52-week high of $13.32.
SRC Energy (NYSEAMERICAN:SRCI) last released its quarterly earnings results on Wednesday, October 31st. The oil and natural gas company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $160.98 million during the quarter, compared to analysts’ expectations of $155.20 million.
In other news, EVP Nicholas Spence acquired 10,000 shares of SRC Energy stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average cost of $7.57 per share, for a total transaction of $75,700.00. Following the completion of the purchase, the executive vice president now directly owns 145,492 shares in the company, valued at approximately $1,101,374.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Large investors have recently made changes to their positions in the company. Aperio Group LLC grew its holdings in SRC Energy by 19.0% during the second quarter. Aperio Group LLC now owns 96,363 shares of the oil and natural gas company’s stock worth $1,062,000 after acquiring an additional 15,364 shares during the period. Alps Advisors Inc. grew its holdings in SRC Energy by 12.0% in the second quarter. Alps Advisors Inc. now owns 58,520 shares of the oil and natural gas company’s stock valued at $499,000 after purchasing an additional 6,262 shares during the period. Wells Fargo & Company MN grew its holdings in SRC Energy by 18.9% in the second quarter. Wells Fargo & Company MN now owns 967,467 shares of the oil and natural gas company’s stock valued at $10,662,000 after purchasing an additional 153,640 shares during the period. First Trust Advisors LP acquired a new stake in SRC Energy in the second quarter valued at approximately $5,365,000. Finally, Pitcairn Co. acquired a new stake in SRC Energy in the second quarter valued at approximately $230,000.
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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