SRC Energy (SRCI) Debt Trading 0.8% Lower

An issue of SRC Energy Inc (NYSEAMERICAN:SRCI) bonds fell 0.8% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 6.25% coupon and is set to mature on December 1, 2025. The bonds in the issue are now trading at $90.00 and were trading at $90.63 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its share price.

A number of research firms recently issued reports on SRCI. Raymond James set a $8.00 price target on SRC Energy and gave the company a “buy” rating in a report on Wednesday, January 23rd. Robert W. Baird set a $5.00 price target on SRC Energy and gave the company a “buy” rating in a report on Friday, February 8th. TheStreet raised SRC Energy from a “d+” rating to a “c” rating in a report on Wednesday, March 6th. Zacks Investment Research raised SRC Energy from a “strong sell” rating to a “hold” rating in a report on Saturday, January 26th. Finally, BMO Capital Markets cut their price target on SRC Energy to $7.00 and set a “market perform” rating for the company in a report on Thursday, February 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. SRC Energy currently has an average rating of “Buy” and a consensus price target of $10.80.

NYSEAMERICAN:SRCI traded down $0.38 on Friday, hitting $5.08. 2,909,600 shares of the stock were exchanged, compared to its average volume of 3,938,866. SRC Energy Inc has a 52 week low of $4.01 and a 52 week high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last announced its quarterly earnings data on Wednesday, February 20th. The oil and natural gas company reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $190.34 million for the quarter, compared to the consensus estimate of $186.18 million.

A number of large investors have recently made changes to their positions in SRCI. BlackRock Inc. grew its position in shares of SRC Energy by 2.7% during the 4th quarter. BlackRock Inc. now owns 35,927,741 shares of the oil and natural gas company’s stock worth $168,858,000 after buying an additional 939,981 shares during the period. Vanguard Group Inc grew its position in shares of SRC Energy by 2.5% during the 3rd quarter. Vanguard Group Inc now owns 24,502,363 shares of the oil and natural gas company’s stock worth $217,826,000 after buying an additional 601,541 shares during the period. Vanguard Group Inc. grew its position in shares of SRC Energy by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 24,502,363 shares of the oil and natural gas company’s stock worth $217,826,000 after buying an additional 601,541 shares during the period. Dimensional Fund Advisors LP grew its position in shares of SRC Energy by 10.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,318,394 shares of the oil and natural gas company’s stock worth $76,695,000 after buying an additional 1,497,267 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of SRC Energy by 0.7% during the 3rd quarter. Alliancebernstein L.P. now owns 9,818,331 shares of the oil and natural gas company’s stock worth $87,285,000 after buying an additional 65,853 shares during the period.

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SRC Energy Company Profile (NYSEAMERICAN:SRCI)

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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