SRC Energy (SRCI) Shares Up 5.6%

SRC Energy Inc (NYSEAMERICAN:SRCI) shares shot up 5.6% during mid-day trading on Friday . The company traded as high as $10.87 and last traded at $10.70. 7,214,400 shares were traded during mid-day trading, an increase of 143% from the average session volume of 2,965,311 shares. The stock had previously closed at $10.13.

SRCI has been the topic of several research analyst reports. Stifel Nicolaus set a $13.00 target price on shares of SRC Energy and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Stephens reissued a “buy” rating and set a $14.00 target price on shares of SRC Energy in a research report on Thursday, March 15th. Jefferies Financial Group set a $13.00 target price on shares of SRC Energy and gave the stock a “buy” rating in a research report on Monday, March 19th. Roth Capital downgraded shares of SRC Energy from a “buy” rating to a “neutral” rating and set a $12.00 target price on the stock. in a research report on Monday, April 30th. Finally, Capital One Financial downgraded 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, seven have assigned a hold rating and ten have assigned a buy rating to the stock. SRC Energy has a consensus rating of “Buy” and an average target price of $12.72.

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SRC Energy (NYSEAMERICAN:SRCI) last announced its quarterly earnings data on Wednesday, May 2nd. The oil and natural gas company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. SRC Energy had a net margin of 36.53% and a return on equity of 18.08%. The business had revenue of $147.23 million during the quarter, compared to analysts’ expectations of $146.40 million.

A number of hedge funds and other institutional investors have recently made changes to their positions in SRCI. Schwab Charles Investment Management Inc. lifted its stake in SRC Energy by 16.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,118,763 shares of the oil and natural gas company’s stock valued at $9,544,000 after acquiring an additional 154,113 shares during the period. Aperio Group LLC lifted its stake in SRC Energy by 15.6% during the 4th quarter. Aperio Group LLC now owns 86,351 shares of the oil and natural gas company’s stock valued at $737,000 after acquiring an additional 11,638 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of SRC Energy by 402.8% in the 4th quarter. Teacher Retirement System of Texas now owns 79,260 shares of the oil and natural gas company’s stock valued at $676,000 after purchasing an additional 63,496 shares during the period. California Public Employees Retirement System lifted its stake in shares of SRC Energy by 9.5% in the 4th quarter. California Public Employees Retirement System now owns 116,300 shares of the oil and natural gas company’s stock valued at $992,000 after purchasing an additional 10,100 shares during the period. Finally, Swiss National Bank lifted its stake in shares of SRC Energy by 27.0% in the 4th quarter. Swiss National Bank now owns 397,728 shares of the oil and natural gas company’s stock valued at $3,393,000 after purchasing an additional 84,600 shares during the period.

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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