SRC Energy (SRCI) Shares Down 7.2%
Shares of SRC Energy Inc (NYSEAMERICAN:SRCI) traded down 7.2% on Wednesday . The stock traded as low as $8.11 and last traded at $8.11. 2,561,682 shares traded hands during trading, a decline of 14% from the average session volume of 2,978,154 shares. The stock had previously closed at $8.74.
Several analysts have recently weighed in on the company. Citigroup lifted their target price on SRC Energy from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. KeyCorp reiterated a “buy” rating and set a $10.00 target price on shares of SRC Energy in a research report on Tuesday, September 19th. Stifel Nicolaus set a $10.00 target price on SRC Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. Imperial Capital reiterated an “outperform” rating on shares of SRC Energy in a research report on Thursday, September 28th. Finally, BidaskClub downgraded SRC Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $11.88.
A number of institutional investors and hedge funds have recently bought and sold shares of SRCI. UBS Group AG purchased a new stake in shares of SRC Energy during the first quarter worth about $101,000. Teacher Retirement System of Texas grew its stake in shares of SRC Energy by 3.3% during 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 acquiring an additional 502 shares during the last quarter. Carnick & Kubik Group LLC purchased a new stake in shares of SRC Energy during the third quarter worth about $106,000. Cubist Systematic Strategies LLC purchased a new stake in shares of SRC Energy during the third quarter worth about $109,000. Finally, Ameritas Investment Partners Inc. grew its stake in shares of SRC Energy by 9.9% during the second quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock worth $119,000 after acquiring an additional 1,584 shares during the last quarter.
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About SRC Energy
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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