Imperial Capital Equities Analysts Raise Earnings Estimates for SRC Energy Inc (SRCI)

SRC Energy Inc (NYSEAMERICAN:SRCI) – Research analysts at Imperial Capital increased their Q1 2019 EPS estimates for SRC Energy in a report released on Wednesday, April 24th. Imperial Capital analyst I. Haas now expects that the oil and natural gas company will post earnings of $0.28 per share for the quarter, up from their previous estimate of $0.20. Imperial Capital has a “Outperform” rating and a $14.00 price objective on the stock.

SRCI has been the topic of a number of other reports. Ifs Securities upgraded SRC Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 7th. TheStreet upgraded SRC Energy from a “d+” rating to a “c” rating in a research report on Wednesday, March 6th. Raymond James set a $8.00 price target on SRC Energy and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Robert W. Baird set a $5.00 price target on SRC Energy and gave the stock a “buy” rating in a research report on Friday, February 8th. Finally, BMO Capital Markets dropped their price target on SRC Energy to $7.00 and set a “market perform” rating on the stock in a research report on Thursday, February 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $10.61.

Shares of SRC Energy stock opened at $6.36 on Thursday. SRC Energy has a twelve month low of $4.01 and a twelve month high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last announced its quarterly earnings results on Wednesday, February 20th. The oil and natural gas company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $190.34 million for the quarter, compared to analyst estimates of $186.18 million.

A number of hedge funds have recently modified their holdings of SRCI. Millennium Management LLC grew its holdings in SRC Energy by 209.2% in the 4th quarter. Millennium Management LLC now owns 6,508,772 shares of the oil and natural gas company’s stock worth $30,591,000 after buying an additional 4,403,730 shares in the last quarter. LSV Asset Management boosted its stake in SRC Energy by 49.3% during the 4th quarter. LSV Asset Management now owns 8,878,442 shares of the oil and natural gas company’s stock valued at $41,728,000 after purchasing an additional 2,932,485 shares in the last quarter. Norges Bank bought a new position in SRC Energy during the 4th quarter valued at $11,130,000. Dimensional Fund Advisors LP boosted its stake in SRC Energy by 10.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,318,394 shares of the oil and natural gas company’s stock valued at $76,695,000 after purchasing an additional 1,497,267 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in SRC Energy by 2.7% during the 4th quarter. BlackRock Inc. now owns 35,927,741 shares of the oil and natural gas company’s stock valued at $168,858,000 after purchasing an additional 939,981 shares in the last quarter.

About SRC Energy

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.

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Earnings History and Estimates for SRC Energy (NYSEAMERICAN:SRCI)

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