Great West Life Assurance Co. Can Has $2.01 Million Position in SRC Energy Inc (SRCI)
Great West Life Assurance Co. Can increased its stake in shares of SRC Energy Inc (NASDAQ:SRCI) by 4.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 299,623 shares of the oil and natural gas company’s stock after buying an additional 14,000 shares during the period. Great West Life Assurance Co. Can owned about 0.15% of SRC Energy worth $2,014,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. UBS Group AG bought a new position in shares of SRC Energy during the first quarter valued at $101,000. Commerce Bank acquired a new position in shares of SRC Energy during the first quarter valued at about $101,000. Piedmont Investment Advisors LLC acquired a new position in shares of SRC Energy during the first quarter valued at about $101,000. Flinton Capital Management LLC acquired a new position in shares of SRC Energy during the first quarter valued at about $105,000. Finally, World Asset Management Inc acquired a new position in shares of SRC Energy during the first quarter valued at about $106,000.
Shares of SRC Energy Inc (NASDAQ SRCI) opened at 7.67 on Friday. SRC Energy Inc has a 12 month low of $5.87 and a 12 month high of $10.38. The company has a market cap of $1.54 billion and a price-to-earnings ratio of 45.38. The company’s 50-day moving average price is $7.76 and its 200-day moving average price is $7.66.
SRC Energy (NASDAQ:SRCI) last issued its earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. The business had revenue of $75.04 million for the quarter, compared to the consensus estimate of $68.08 million. SRC Energy had a net margin of 37.23% and a return on equity of 12.75%. Analysts anticipate that SRC Energy Inc will post $0.59 EPS for the current year.
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Several equities analysts have recently issued reports on SRCI shares. Credit Suisse Group reiterated an “outperform” rating and issued a $10.00 price target on shares of SRC Energy in a research note on Friday, June 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $10.00 price target on shares of SRC Energy in a research note on Friday, July 14th. Zacks Investment Research lowered SRC Energy from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Scotiabank reiterated a “buy” rating and issued a $11.00 price target on shares of SRC Energy in a research note on Thursday, June 22nd. Finally, Seaport Global Securities lowered SRC Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $5.00 in a research report on Wednesday, June 21st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $11.34.
In other SRC Energy news, COO Nicholas Spence acquired 8,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were purchased at an average cost of $6.45 per share, for a total transaction of $51,600.00. Following the completion of the purchase, the chief operating officer now owns 108,222 shares in the company, valued at $698,031.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
SRC Energy Company Profile
SRC Energy Inc, formerly Synergy Resources Corporation, is an independent oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.
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