Jefferies Group LLC assumed coverage on shares of SRC Energy Inc (NASDAQ:SRCI) in a report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $12.00 target price on the oil and natural gas company’s stock.
Other analysts have also issued reports about the company. KeyCorp reiterated a buy rating and set a $10.00 price objective on shares of SRC Energy in a report on Tuesday, September 19th. Robert W. Baird reiterated a buy rating and set a $12.00 price objective on shares of SRC Energy in a report on Friday, September 1st. Zacks Investment Research upgraded SRC Energy from a hold rating to a buy rating and set a $8.25 price objective for the company in a report on Thursday, July 20th. Stifel Nicolaus reiterated a buy rating and set a $10.00 price objective on shares of SRC Energy in a report on Friday, July 14th. Finally, Scotiabank set a $10.00 price objective on SRC Energy and gave the stock a buy rating in a report on Saturday, July 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $11.63.
SRC Energy (SRCI) traded down 0.485% during midday trading on Monday, reaching $9.225. The company’s stock had a trading volume of 211,821 shares. SRC Energy has a 12 month low of $6.19 and a 12 month high of $10.38. The stock’s 50-day moving average price is $7.96 and its 200-day moving average price is $7.58. The firm has a market capitalization of $1.85 billion and a price-to-earnings ratio of 54.586.
SRC Energy (NASDAQ:SRCI) last announced its quarterly earnings data on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. SRC Energy had a return on equity of 12.75% and a net margin of 37.23%. The business had revenue of $75.04 million during the quarter, compared to analyst estimates of $68.08 million. Analysts predict that SRC Energy will post $0.59 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in SRC Energy by 1.6% during the second quarter. BlackRock Inc. now owns 24,464,771 shares of the oil and natural gas company’s stock valued at $164,648,000 after buying an additional 395,846 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in SRC Energy by 13.8% during the second quarter. JPMorgan Chase & Co. now owns 11,734,473 shares of the oil and natural gas company’s stock valued at $78,972,000 after buying an additional 1,420,495 shares in the last quarter. Vanguard Group Inc. raised its holdings in SRC Energy by 5.4% during the second quarter. Vanguard Group Inc. now owns 10,901,745 shares of the oil and natural gas company’s stock valued at $73,369,000 after buying an additional 558,923 shares in the last quarter. Fine Capital Partners L.P. raised its holdings in SRC Energy by 21.5% during the second quarter. Fine Capital Partners L.P. now owns 10,234,909 shares of the oil and natural gas company’s stock valued at $68,881,000 after buying an additional 1,813,361 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in SRC Energy during the first quarter valued at about $77,595,000.
SRC Energy Company Profile
SRC Energy Inc, formerly Synergy Resources Corporation, is an independent oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.
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