SRC Energy (NYSEAMERICAN:SRCI) Stock Price Up 5.6%

SRC Energy Inc (NYSEAMERICAN:SRCI)’s share price rose 5.6% on Monday . The company traded as high as $5.10 and last traded at $5.10, approximately 6,982,920 shares were traded during mid-day trading. An increase of 49% from the average daily volume of 4,696,726 shares. The stock had previously closed at $4.83.

Several research firms have recently issued reports on SRCI. Robert W. Baird set a $10.00 target price on shares of SRC Energy and gave the stock a “buy” rating in a research note on Friday, May 17th. Alliance Global Partners cut SRC Energy to a “hold” rating in a research report on Monday, August 26th. KeyCorp began coverage on SRC Energy in a research report on Tuesday, May 28th. They set an “overweight” rating and a $7.00 target price on the stock. Capital One Financial upgraded shares of SRC Energy from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group set a $6.00 target price on shares of SRC Energy and gave the company a “buy” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $10.69.

SRC Energy (NYSEAMERICAN:SRCI) last issued its earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $162.60 million for the quarter, compared to analysts’ expectations of $179.12 million.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in SRC Energy during the second quarter worth about $43,000. SRS Capital Advisors Inc. purchased a new stake in shares of SRC Energy in the 2nd quarter valued at approximately $49,000. Denali Advisors LLC purchased a new stake in shares of SRC Energy in the 2nd quarter valued at approximately $53,000. GAM Holding AG acquired a new position in shares of SRC Energy in the 2nd quarter worth approximately $54,000. Finally, Ellington Management Group LLC acquired a new position in shares of SRC Energy in the 2nd quarter worth approximately $57,000.

About SRC Energy (NYSEAMERICAN:SRCI)

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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