SRC Energy Inc (SRCI) Rating Reiterated by Robert W. Baird
SRC Energy Inc (NASDAQ:SRCI)‘s stock had its “buy” rating reissued by equities researchers at Robert W. Baird in a research report issued to clients and investors on Friday. They presently have a $12.00 target price on the oil and natural gas company’s stock. Robert W. Baird’s target price suggests a potential upside of 52.09% from the stock’s previous close.
Several other brokerages also recently commented on SRCI. Roth Capital set a $11.00 target price on shares of SRC Energy and gave the stock a “buy” rating in a report on Wednesday, August 2nd. BMO Capital Markets set a $9.00 target price on shares of SRC Energy and gave the stock a “hold” rating in a report on Sunday, August 13th. Citigroup Inc. lifted their target price on shares of SRC Energy from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, August 15th. Zacks Investment Research raised shares of SRC Energy from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a report on Thursday, July 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $10.00 target price on shares of SRC Energy in a report on Friday, July 14th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $11.40.
Shares of SRC Energy (NASDAQ SRCI) opened at 7.89 on Friday. The company has a market capitalization of $1.58 billion and a price-to-earnings ratio of 46.69. The stock has a 50 day moving average of $7.84 and a 200-day moving average of $7.63. SRC Energy has a 1-year low of $5.87 and a 1-year high of $10.38.
SRC Energy (NASDAQ:SRCI) last announced its earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $75.04 million during 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 forecast that SRC Energy will post $0.60 earnings per share for the current year.
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In other SRC Energy news, COO Nicholas Spence acquired 8,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was purchased at an average price of $6.45 per share, with a total value of $51,600.00. Following the acquisition, the chief operating officer now directly owns 108,222 shares of the company’s stock, valued at approximately $698,031.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Hedge funds have recently bought and sold shares of the stock. Commerce Bank acquired a new stake in SRC Energy during the first quarter worth about $101,000. UBS Group AG acquired a new stake in SRC Energy during the first quarter worth about $101,000. Piedmont Investment Advisors LLC acquired a new stake in SRC Energy during the first quarter worth about $101,000. Teacher Retirement System of Texas increased its stake in SRC Energy by 3.3% in the second quarter. Teacher Retirement System of Texas now owns 15,503 shares of the oil and natural gas company’s stock worth $104,000 after buying an additional 502 shares in the last quarter. Finally, Flinton Capital Management LLC acquired a new stake in SRC Energy during the first quarter worth about $105,000.
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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