Nicholas Spence Acquires 10,000 Shares of SRC Energy Inc (SRCI) Stock

SRC Energy Inc (NYSEAMERICAN:SRCI) EVP Nicholas Spence bought 10,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was bought at an average price of $7.57 per share, for a total transaction of $75,700.00. Following the transaction, the executive vice president now directly owns 145,492 shares of the company’s stock, valued at $1,101,374.44. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Shares of NYSEAMERICAN:SRCI traded down $0.63 during mid-day trading on Thursday, reaching $7.74. 405,484 shares of the company’s stock were exchanged, compared to its average volume of 3,094,323. SRC Energy Inc has a twelve month low of $6.68 and a twelve month high of $13.32.

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

SRCI has been the topic of a number of research analyst reports. Robert W. Baird upgraded shares of SRC Energy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $10.00 to $12.00 in a research report on Monday, October 15th. 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. KLR Group restated a “buy” rating and issued a $15.00 target price on shares of SRC Energy in a research report on Monday, August 20th. Jefferies Financial Group set a $15.00 target price on shares of SRC Energy and gave the company a “buy” rating in a research report on Friday, August 3rd. Finally, Zacks Investment Research upgraded shares of SRC Energy from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.63.

Several large investors have recently modified their holdings of SRCI. Piedmont Investment Advisors LLC increased its position in shares of SRC Energy by 9.1% during the second quarter. Piedmont Investment Advisors LLC now owns 56,404 shares of the oil and natural gas company’s stock worth $622,000 after acquiring an additional 4,726 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in SRC Energy by 12.6% in the second quarter. Nisa Investment Advisors LLC now owns 43,825 shares of the oil and natural gas company’s stock valued at $483,000 after acquiring an additional 4,900 shares during the last quarter. Lowe Brockenbrough & Co. Inc. boosted its stake in SRC Energy by 13.9% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 41,000 shares of the oil and natural gas company’s stock valued at $452,000 after acquiring an additional 5,000 shares during the last quarter. Amalgamated Bank boosted its stake in SRC Energy by 15.1% in the second quarter. Amalgamated Bank now owns 39,145 shares of the oil and natural gas company’s stock valued at $431,000 after acquiring an additional 5,144 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its stake in SRC Energy by 37.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 22,166 shares of the oil and natural gas company’s stock valued at $244,000 after acquiring an additional 6,009 shares during the last quarter.

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About SRC Energy

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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