SRC Energy Inc (SRCI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of SRC Energy Inc (NYSEAMERICAN:SRCI) have been assigned an average recommendation of “Buy” from the twenty research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $12.63.

Several equities research analysts have weighed in on SRCI shares. Zacks Investment Research cut SRC Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada cut SRC Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, January 5th. 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. Stephens reissued a “buy” rating and set a $14.00 price objective on shares of SRC Energy in a research note on Thursday, March 15th. 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.

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Shares of NYSEAMERICAN:SRCI traded down $0.30 during mid-day trading on Friday, reaching $8.95. The stock had a trading volume of 2,335,095 shares, compared to its average volume of 2,709,960. SRC Energy has a 1 year low of $6.19 and a 1 year high of $10.44.

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

A number of large investors have recently made changes to their positions in SRCI. Cubist Systematic Strategies LLC bought a new position in SRC Energy in the third quarter worth approximately $109,000. Allen Capital Group LLC purchased a new stake in SRC Energy during the fourth quarter worth $113,000. Financial Gravity Companies Inc. purchased a new stake in SRC Energy during the fourth quarter worth $133,000. Atria Investments LLC purchased a new stake in SRC Energy during the fourth quarter worth $135,000. Finally, LPL Financial LLC purchased a new stake in SRC Energy during the fourth quarter worth $139,000.

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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.

Analyst Recommendations for SRC Energy (NYSEAMERICAN:SRCI)

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