BMO Capital Markets set a $9.00 target price on SRC Energy Inc (NASDAQ:SRCI) in a research report report published on Sunday morning. The firm currently has a hold rating on the oil and natural gas company’s stock.
Several other brokerages have also recently issued reports on SRCI. Credit Suisse Group restated an outperform rating and issued a $10.00 price target on shares of SRC Energy in a research report on Friday, June 2nd. Stifel Nicolaus restated a buy rating and issued a $10.00 price target on shares of SRC Energy in a research report on Friday, July 14th. Zacks Investment Research cut SRC Energy from a buy rating to a hold rating in a research report on Friday, July 21st. Capital One Financial Corporation started coverage on SRC Energy in a research report on Tuesday, April 25th. They issued an overweight rating and a $13.00 price target on the stock. Finally, Scotiabank reiterated a buy rating and set a $11.00 target price on shares of SRC Energy in a research report on Thursday, June 22nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. SRC Energy currently has an average rating of Buy and an average price target of $11.34.
Shares of SRC Energy (NASDAQ:SRCI) opened at 8.01 on Friday. The stock has a 50 day moving average price of $7.57 and a 200-day moving average price of $7.71. SRC Energy has a 52 week low of $5.87 and a 52 week high of $10.38. The stock has a market cap of $1.61 billion and a P/E ratio of 47.40.
SRC Energy (NASDAQ:SRCI) last issued its quarterly earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm had revenue of $75.04 million for the quarter, compared to analysts’ expectations of $68.08 million. SRC Energy had a return on equity of 9.36% and a net margin of 44.12%. Equities analysts predict that SRC Energy will post $0.59 EPS for the current fiscal year.
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In other SRC Energy news, COO Nicholas Spence bought 8,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $6.45 per share, for a total transaction of $51,600.00. Following the transaction, the chief operating officer now owns 108,222 shares of the company’s stock, valued at approximately $698,031.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of SRC Energy during the first quarter valued at approximately $203,143,000. Victory Capital Management Inc. purchased a new stake in shares of SRC Energy during the first quarter valued at approximately $120,737,000. Alliancebernstein L.P. purchased a new stake in shares of SRC Energy during the first quarter valued at approximately $116,804,000. Vanguard Group Inc. purchased a new stake in shares of SRC Energy during the first quarter valued at approximately $87,294,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of SRC Energy during the first quarter valued at approximately $87,050,000.
About SRC Energy
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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