SRC Energy (SRCI) Shares Gap Down to $8.71

SRC Energy Inc (NYSEAMERICAN:SRCI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $8.91, but opened at $8.71. SRC Energy shares last traded at $8.63, with a volume of 7775919 shares trading hands.

Several equities analysts have commented on SRCI shares. Jefferies Financial Group set a $15.00 price target on SRC Energy and gave the company a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research upgraded SRC Energy from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Friday, July 13th. Robert W. Baird downgraded SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 price target on the stock. in a report on Tuesday, August 14th. KLR Group reiterated a “buy” rating and set a $15.00 price target on shares of SRC Energy in a report on Monday, August 20th. Finally, Roth Capital upgraded SRC Energy from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. SRC Energy presently has a consensus rating of “Buy” and a consensus price target of $12.83.

SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings data on Wednesday, August 1st. The oil and natural gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. SRC Energy had a return on equity of 18.08% and a net margin of 36.53%. The company had revenue of $147.09 million during the quarter, compared to analysts’ expectations of $144.87 million.

In other SRC Energy news, CFO James P. Henderson acquired 10,000 shares of SRC Energy stock in a transaction dated Tuesday, August 14th. The stock was bought at an average cost of $9.26 per share, with a total value of $92,600.00. Following the completion of the transaction, the chief financial officer now owns 252,412 shares of the company’s stock, valued at $2,337,335.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lynn A. Peterson acquired 20,000 shares of SRC Energy stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $9.26 per share, with a total value of $185,200.00. Following the completion of the transaction, the chief executive officer now directly owns 626,591 shares of the company’s stock, valued at approximately $5,802,232.66. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently bought and sold shares of SRCI. Copper Rock Capital Partners LLC bought a new position in SRC Energy in the second quarter worth $31,080,000. BlackRock Inc. lifted its position in SRC Energy by 6.3% in the second quarter. BlackRock Inc. now owns 33,684,662 shares of the oil and natural gas company’s stock worth $371,205,000 after purchasing an additional 1,991,238 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in SRC Energy in the second quarter worth $21,820,000. Fisher Asset Management LLC lifted its position in SRC Energy by 493.8% in the second quarter. Fisher Asset Management LLC now owns 1,875,474 shares of the oil and natural gas company’s stock worth $20,668,000 after purchasing an additional 1,559,623 shares during the period. Finally, LSV Asset Management lifted its position in SRC Energy by 34.3% in the second quarter. LSV Asset Management now owns 5,338,357 shares of the oil and natural gas company’s stock worth $58,828,000 after purchasing an additional 1,363,454 shares during the period.

SRC Energy Company Profile (NYSEAMERICAN:SRCI)

SRC Energy Inc, an independent 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, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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