Research Analysts Set Expectations for SRC Energy’s Q1 2018 Earnings (SRCI)

SRC Energy (NYSEAMERICAN:SRCI) – Equities research analysts at Capital One lowered their Q1 2018 earnings per share estimates for SRC Energy in a report released on Tuesday, April 24th. Capital One analyst P. Johnston now anticipates that the oil and natural gas company will earn $0.28 per share for the quarter, down from their prior estimate of $0.30. Capital One has a “Equal Weight” rating on the stock. Capital One also issued estimates for SRC Energy’s Q2 2018 earnings at $0.27 EPS and FY2018 earnings at $1.19 EPS.

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SRC Energy (NYSEAMERICAN:SRCI) last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.03). The company had revenue of $140.10 million for the quarter, compared to analysts’ expectations of $133.72 million. SRC Energy had a net margin of 36.53% and a return on equity of 18.08%.



Several other research firms have also commented on SRCI. KeyCorp set a $14.00 price objective on SRC Energy and gave the stock a “buy” rating in a research note on Monday. Imperial Capital restated an “outperform” rating and issued a $16.00 price objective (up from $14.00) on shares of SRC Energy in a research note on Thursday, February 1st. Credit Suisse Group upgraded SRC Energy from an “underperform” rating to a “neutral” rating and set a $8.00 price objective for the company in a research note on Wednesday, January 31st. Stifel Nicolaus set a $13.00 price objective on SRC Energy and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Finally, Jefferies Group set a $13.00 price objective on SRC Energy and gave the stock a “buy” rating in a research note on Monday, March 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.85.

NYSEAMERICAN:SRCI opened at $10.95 on Wednesday. SRC Energy has a one year low of $6.19 and a one year high of $11.28.

A number of hedge funds have recently modified their holdings of SRCI. New York State Common Retirement Fund boosted its holdings in shares of SRC Energy by 7.4% during the 3rd quarter. New York State Common Retirement Fund now owns 214,800 shares of the oil and natural gas company’s stock valued at $2,077,000 after purchasing an additional 14,800 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of 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 valued at $6,960,000 after purchasing an additional 35,771 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of SRC Energy by 22.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 964,650 shares of the oil and natural gas company’s stock valued at $9,329,000 after purchasing an additional 177,652 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of SRC Energy during the 3rd quarter valued at about $109,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of 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 valued at $887,000 after purchasing an additional 71,952 shares during the last quarter.

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About SRC Energy

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.

Earnings History and Estimates for SRC Energy (NYSEAMERICAN:SRCI)

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