SRC Energy Inc (NASDAQ:SRCI) has earned a consensus broker rating score of 1.31 (Strong Buy) from the sixteen analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and thirteen have assigned a strong buy recommendation to the company.
Brokers have set a 12-month consensus price target of $10.38 for the company and are predicting that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also given SRC Energy an industry rank of 161 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have weighed in on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $11.00 target price on shares of SRC Energy in a research report on Wednesday, April 12th. Simmons lifted their target price on SRC Energy from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Capital One Financial Corp. assumed coverage on SRC Energy in a research report on Tuesday, April 25th. They set an “overweight” rating and a $13.00 target price for the company. Wells Fargo & Co lowered SRC Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research lowered SRC Energy from a “buy” rating to a “hold” rating in a research report on Saturday, March 11th. Shares of SRC Energy (NASDAQ:SRCI) traded down 0.617% during midday trading on Wednesday, reaching $7.245. The company had a trading volume of 1,231,114 shares. The stock’s market capitalization is $1.45 billion. The firm’s 50 day moving average price is $7.95 and its 200-day moving average price is $8.36. SRC Energy has a 1-year low of $5.61 and a 1-year high of $10.38.
In related news, Director Paul Korus purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were acquired at an average cost of $8.35 per share, for a total transaction of $41,750.00. Following the acquisition, the director now owns 16,910 shares of the company’s stock, valued at approximately $141,198.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of SRC Energy during the first quarter worth about $203,143,000. Victory Capital Management Inc. bought a new position in shares of SRC Energy during the first quarter worth about $120,737,000. Alliancebernstein L.P. bought a new position in shares of SRC Energy during the first quarter worth about $116,804,000. Vanguard Group Inc. bought a new position in shares of SRC Energy during the first quarter worth about $87,294,000. Finally, JPMorgan Chase & Co. bought a new position in shares of SRC Energy during the first quarter worth about $87,050,000.
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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