SRC Energy Inc (SRCI) Position Reduced by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. lessened its position in SRC Energy Inc (NYSEAMERICAN:SRCI) by 53.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 954,745 shares of the oil and natural gas company’s stock after selling 1,081,762 shares during the quarter. Icon Advisers Inc. Co.’s holdings in SRC Energy were worth $8,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SRCI. Russell Investments Group Ltd. increased its holdings in shares of SRC Energy by 93.2% during the 1st quarter. Russell Investments Group Ltd. now owns 169,237 shares of the oil and natural gas company’s stock worth $1,596,000 after purchasing an additional 81,643 shares during the period. Jane Street Group LLC increased its holdings in shares of SRC Energy by 236.7% during the 1st quarter. Jane Street Group LLC now owns 37,975 shares of the oil and natural gas company’s stock worth $358,000 after purchasing an additional 26,697 shares during the period. Legal & General Group Plc increased its holdings in shares of SRC Energy by 2.6% during the 1st quarter. Legal & General Group Plc now owns 499,405 shares of the oil and natural gas company’s stock worth $4,670,000 after purchasing an additional 12,775 shares during the period. WINTON GROUP Ltd bought a new position in shares of SRC Energy during the 1st quarter worth about $321,000. Finally, Principal Financial Group Inc. increased its holdings in shares of SRC Energy by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,952,912 shares of the oil and natural gas company’s stock worth $18,416,000 after purchasing an additional 54,538 shares during the period.

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

Several research firms have recently issued reports on SRCI. Seaport Global Securities restated a “neutral” rating on shares of SRC Energy in a report on Tuesday, July 24th. Roth Capital upgraded shares of SRC Energy from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, October 18th. Zacks Investment Research upgraded shares of SRC Energy from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Thursday, October 25th. KLR Group reiterated a “buy” rating and set a $15.00 target price on shares of SRC Energy in a research report on Monday, August 20th. Finally, Robert W. Baird lowered shares of SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 target price on the stock. in a research report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. SRC Energy presently has an average rating of “Hold” and an average price target of $12.66.

Shares of SRCI stock opened at $7.35 on Wednesday. SRC Energy Inc has a 1 year low of $6.68 and a 1 year high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings results on Wednesday, October 31st. The oil and natural gas company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The business had revenue of $160.98 million for the quarter, compared to the consensus estimate of $155.20 million.

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SRC Energy Profile

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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Institutional Ownership by Quarter for SRC Energy (NYSEAMERICAN:SRCI)

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