JPMorgan Chase & Co. increased its position in shares of SRC Energy Inc (NASDAQ:SRCI) by 13.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,734,473 shares of the oil and natural gas company’s stock after purchasing an additional 1,420,495 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.84% of SRC Energy worth $78,972,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Karp Capital Management Corp acquired a new stake in shares of SRC Energy during the 1st quarter worth about $438,000. Ameritas Investment Partners Inc. acquired a new stake in shares of SRC Energy during the 1st quarter worth about $136,000. BlackRock Inc. acquired a new stake in shares of SRC Energy during the 1st quarter worth about $203,143,000. Elk Creek Partners LLC acquired a new stake in shares of SRC Energy during the 1st quarter worth about $8,029,000. Finally, State Street Corp acquired a new stake in shares of SRC Energy during the 1st quarter worth about $68,552,000.

Shares of SRC Energy Inc (SRCI) opened at 7.48 on Monday. The firm has a 50-day moving average of $7.93 and a 200 day moving average of $7.60. SRC Energy Inc has a 52-week low of $5.87 and a 52-week high of $10.38. The firm has a market cap of $1.50 billion and a PE ratio of 44.26.

SRC Energy (NASDAQ:SRCI) last released its quarterly earnings data on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. SRC Energy had a return on equity of 12.75% and a net margin of 37.23%. The company had revenue of $75.04 million during the quarter, compared to the consensus estimate of $68.08 million. On average, equities analysts predict that SRC Energy Inc will post $0.60 earnings per share for the current year.

A number of equities research analysts recently issued reports on SRCI shares. Credit Suisse Group reiterated an “outperform” rating and set a $10.00 target price on shares of SRC Energy in a research report on Friday, June 2nd. BMO Capital Markets restated a “hold” rating and issued a $9.00 price objective on shares of SRC Energy in a research report on Wednesday, June 21st. Seaport Global Securities cut shares of SRC Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $5.00 in a research report on Wednesday, June 21st. Scotiabank restated a “buy” rating and issued a $11.00 price objective on shares of SRC Energy in a research report on Thursday, June 22nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $10.00 price objective on shares of SRC Energy in a research report on Friday, July 14th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $11.40.

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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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Institutional Ownership by Quarter for SRC Energy (NASDAQ:SRCI)

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