SRC Energy (NYSEAMERICAN:SRCI) Shares Gap Down to $4.08

SRC Energy Inc (NYSEAMERICAN:SRCI) gapped down before the market opened on Thursday . The stock had previously closed at $4.99, but opened at $4.08. SRC Energy shares last traded at $4.02, with a volume of 5,800,816 shares trading hands.

Several analysts recently issued reports on SRCI shares. Cowen started coverage on shares of SRC Energy in a research note on Tuesday, April 9th. They set an “outperform” rating and a $8.00 price objective for the company. Zacks Investment Research cut shares of SRC Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Ifs Securities raised shares of SRC Energy from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, April 23rd. Robert W. Baird set a $10.00 price objective on shares of SRC Energy and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $6.00 price objective (down previously from $7.00) on shares of SRC Energy in a research note on Friday. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $11.71.

SRC Energy (NYSEAMERICAN:SRCI) last posted its earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $162.60 million during the quarter, compared to analyst estimates of $179.12 million.

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its holdings in SRC Energy by 75.4% in the 1st quarter. Versant Capital Management Inc now owns 7,835 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 3,368 shares during the last quarter. Strs Ohio acquired a new position in SRC Energy in the 2nd quarter valued at about $43,000. Denali Advisors LLC acquired a new position in SRC Energy in the 2nd quarter valued at about $53,000. Janus Henderson Group PLC acquired a new position in SRC Energy in the 2nd quarter valued at about $65,000. Finally, First Quadrant L P CA acquired a new position in SRC Energy in the 2nd quarter valued at about $90,000.

About SRC Energy (NYSEAMERICAN:SRCI)

SRC Energy Inc, an 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, 2018, it had net proved oil and natural gas reserves of 88 million barrels of oil and condensate, 771.9 billion cubic feet of natural gas, and 89.1 million barrels of natural gas liquids; and operated 985 net producing wells, as well as had 95,200 gross and 86,200 net acres under lease in the Wattenberg Field.

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