Citigroup Lowers SRC Energy (SRCI) Price Target to $9.50

SRC Energy (NYSEAMERICAN:SRCI) had its price objective reduced by stock analysts at Citigroup from $10.00 to $9.50 in a report issued on Tuesday. The brokerage currently has a “neutral” rating on the oil and natural gas company’s stock. Citigroup’s price target suggests a potential upside of 6.74% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reissued a “buy” rating and set a $13.00 price objective on shares of SRC Energy in a report on Tuesday, November 7th. Zacks Investment Research raised SRC Energy from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Saturday, October 28th. SunTrust Banks reissued a “buy” rating and set a $12.00 price objective on shares of SRC Energy in a report on Friday, October 27th. Scotiabank set a $14.00 price objective on SRC Energy and gave the stock a “buy” rating in a report on Tuesday, October 17th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $14.00 price objective on shares of SRC Energy in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. SRC Energy currently has a consensus rating of “Buy” and a consensus target price of $12.13.

SRC Energy (NYSEAMERICAN:SRCI) opened at $8.90 on Tuesday. The stock has a market cap of $2,110.00, a PE ratio of 18.54 and a beta of 1.57. SRC Energy has a 52-week low of $6.19 and a 52-week high of $10.44.

Several hedge funds have recently made changes to their positions in the company. Miller Howard Investments Inc. NY bought a new stake in SRC Energy during the 3rd quarter worth approximately $168,000. GSA Capital Partners LLP increased its stake in SRC Energy by 362.9% during the 3rd quarter. GSA Capital Partners LLP now owns 91,778 shares of the oil and natural gas company’s stock worth $887,000 after purchasing an additional 71,952 shares in the last quarter. Wells Fargo & Company MN increased its stake in SRC Energy by 5.2% during the 3rd quarter. Wells Fargo & Company MN now owns 719,747 shares of the oil and natural gas company’s stock worth $6,960,000 after purchasing an additional 35,771 shares in the last quarter. Northern Trust Corp increased its stake in SRC Energy by 6.3% during the 2nd quarter. Northern Trust Corp now owns 3,562,827 shares of the oil and natural gas company’s stock worth $23,977,000 after purchasing an additional 212,710 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in SRC Energy by 78.7% during the 3rd quarter. Prudential Financial Inc. now owns 613,450 shares of the oil and natural gas company’s stock worth $5,932,000 after purchasing an additional 270,090 shares in the last quarter.

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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.

Analyst Recommendations for SRC Energy (NYSEAMERICAN:SRCI)

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