SRC Energy Inc (NASDAQ:SRCI) had its price target hoisted by Stifel Nicolaus from $10.00 to $12.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 29.45% from the stock’s current price.
A number of other research analysts also recently issued reports on SRCI. BMO Capital Markets reaffirmed a “hold” rating and issued a $9.00 price objective on shares of SRC Energy in a research report on Wednesday, June 21st. Seaport Global Securities downgraded shares of SRC Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $5.00 in a research report on Wednesday, June 21st. Scotiabank reaffirmed a “buy” rating and issued a $11.00 price objective on shares of SRC Energy in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of SRC Energy from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research report on Thursday, July 20th. Finally, Roth Capital set a $11.00 price objective on shares of SRC Energy and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $11.63.
SRC Energy (NASDAQ:SRCI) last issued 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 analysts’ consensus estimates of $0.11 by $0.03. SRC Energy had a net margin of 37.23% and a return on equity of 12.75%. The firm had revenue of $75.04 million for the quarter, compared to the consensus estimate of $68.08 million.
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Large investors have recently added to or reduced their stakes in the business. UBS Group AG purchased a new stake in SRC Energy during the 1st quarter worth approximately $101,000. Piedmont Investment Advisors LLC purchased a new stake in SRC Energy during the 1st quarter worth approximately $101,000. Teacher Retirement System of Texas boosted its holdings in shares of SRC Energy by 3.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,503 shares of the oil and natural gas company’s stock valued at $104,000 after acquiring an additional 502 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of SRC Energy in the 1st quarter valued at $118,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of SRC Energy by 9.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock valued at $119,000 after acquiring an additional 1,584 shares during the last quarter.
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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