SRC Energy Inc (NYSEAMERICAN:SRCI) – Investment analysts at SunTrust Banks cut their Q1 2018 earnings per share (EPS) estimates for SRC Energy in a report issued on Thursday. SunTrust Banks analyst W. Fitzpatrick now forecasts that the oil and natural gas company will post earnings per share of $0.16 for the quarter, down from their prior forecast of $0.19. SunTrust Banks also issued estimates for SRC Energy’s Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.20 EPS and Q1 2019 earnings at $0.21 EPS.
A number of other brokerages have also weighed in on SRCI. Piper Jaffray Companies restated a “buy” rating and issued a $14.00 target price on shares of SRC Energy in a research report on Tuesday, January 9th. Royal Bank of Canada lowered shares of SRC Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 5th. Imperial Capital restated an “outperform” rating and issued a $13.00 target price (up previously from $11.00) on shares of SRC Energy in a research report on Monday, November 13th. Zacks Investment Research lowered shares of SRC Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Robert W. Baird cut their price target on shares of SRC Energy from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $12.13.
A number of hedge funds and other institutional investors have recently made changes to their positions in SRCI. Cubist Systematic Strategies LLC bought a new stake in SRC Energy in the third quarter valued at $109,000. Allen Capital Group LLC bought a new stake in SRC Energy in the fourth quarter valued at $113,000. Ameritas Investment Partners Inc. increased its stake in SRC Energy by 9.9% in the second quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock valued at $119,000 after purchasing an additional 1,584 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in SRC Energy in the fourth quarter valued at $133,000. Finally, Atria Investments LLC bought a new stake in SRC Energy in the fourth quarter valued at $135,000.
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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.
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