SRC Energy (NYSEAMERICAN:SRCI) Receives Strong-Buy Rating from Raymond James

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Raymond James reaffirmed their strong-buy rating on shares of SRC Energy (NYSEAMERICAN:SRCI) in a research report sent to investors on Friday, BenzingaRatingsTable reports. Raymond James currently has a $6.00 price target on the oil and natural gas company’s stock, down from their previous price target of $7.00.

Several other equities research analysts have also recently issued reports on SRCI. Wells Fargo & Co began coverage on shares of SRC Energy in a report on Monday, May 20th. They issued an outperform rating and a $8.00 target price on the stock. Cowen began coverage on shares of SRC Energy in a report on Tuesday, April 9th. They issued an outperform rating and a $8.00 target price on the stock. Robert W. Baird set a $10.00 target price on shares of SRC Energy and gave the stock a buy rating in a report on Friday, May 17th. KeyCorp began coverage on shares of SRC Energy in a report on Tuesday, May 28th. They issued an overweight rating and a $7.00 target price on the stock. Finally, Zacks Investment Research cut shares of SRC Energy from a buy rating to a hold rating in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. SRC Energy presently has a consensus rating of Buy and a consensus target price of $11.44.

Shares of SRCI stock opened at $4.04 on Friday. SRC Energy has a 12-month low of $3.17 and a 12-month high of $11.48.

SRC Energy (NYSEAMERICAN:SRCI) last issued its earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. The company had revenue of $162.60 million during the quarter, compared to analysts’ expectations of $179.12 million.

Several hedge funds have recently made changes to their positions in SRCI. Versant Capital Management Inc raised its position in shares of SRC Energy by 75.4% during the 1st quarter. Versant Capital Management Inc now owns 7,835 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 3,368 shares during the period. Strs Ohio bought a new stake in shares of SRC Energy during the 2nd quarter valued at $43,000. Denali Advisors LLC bought a new stake in SRC Energy in the 2nd quarter valued at $53,000. Janus Henderson Group PLC bought a new stake in SRC Energy in the 2nd quarter valued at $65,000. Finally, First Quadrant L P CA bought a new stake in SRC Energy in the 2nd quarter valued at $90,000.

SRC Energy Company Profile

SRC Energy Inc, an 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, 2018, it had net proved oil and natural gas reserves of 88 million barrels of oil and condensate, 771.9 billion cubic feet of natural gas, and 89.1 million barrels of natural gas liquids; and operated 985 net producing wells, as well as had 95,200 gross and 86,200 net acres under lease in the Wattenberg Field.

Read More: Leveraged Buyout (LBO) Explained

Analyst Recommendations for SRC Energy (NYSEAMERICAN:SRCI)

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