SRC Energy Inc (SRCI) Expected to Earn Q1 2018 Earnings of $0.29 Per Share
SRC Energy Inc (NYSEAMERICAN:SRCI) – Equities research analysts at Imperial Capital issued their Q1 2018 earnings per share (EPS) estimates for SRC Energy in a report issued on Wednesday. Imperial Capital analyst I. Haas forecasts that the oil and natural gas company will earn $0.29 per share for the quarter. Imperial Capital has a “Outperform” rating and a $16.00 price objective on the stock. Imperial Capital also issued estimates for SRC Energy’s Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $1.27 EPS.
Several other equities analysts have also issued reports on the company. Credit Suisse Group upgraded SRC Energy from an “underperform” rating to a “neutral” rating and set a $8.00 price target on the stock in a research note on Wednesday. Piper Jaffray Companies restated a “buy” rating and set a $14.00 price target on shares of SRC Energy in a research note on Tuesday, January 9th. Royal Bank of Canada downgraded SRC Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, January 5th. Robert W. Baird decreased their price objective on SRC Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Monday, December 18th. Finally, BMO Capital Markets set a $10.00 target price on SRC Energy and gave the stock a “hold” rating in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.03.
SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings data on Wednesday, November 1st. The oil and natural gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. SRC Energy had a return on equity of 19.16% and a net margin of 42.33%. The business had revenue of $103.59 million for the quarter, compared to analyst estimates of $99.64 million.
A number of large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its holdings in SRC Energy by 135.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,270,736 shares of the oil and natural gas company’s stock valued at $41,300,000 after acquiring an additional 2,457,602 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of SRC Energy by 18.8% during the third quarter. Dimensional Fund Advisors LP now owns 10,659,732 shares of the oil and natural gas company’s stock worth $103,079,000 after purchasing an additional 1,690,467 shares during the period. LSV Asset Management increased its holdings in shares of SRC Energy by 601.3% during the fourth quarter. LSV Asset Management now owns 1,681,011 shares of the oil and natural gas company’s stock worth $14,339,000 after purchasing an additional 1,441,311 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of SRC Energy by 70.9% during the second quarter. Westwood Holdings Group Inc. now owns 2,931,999 shares of the oil and natural gas company’s stock worth $19,732,000 after purchasing an additional 1,216,866 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of SRC Energy by 26.5% during the third quarter. Macquarie Group Ltd. now owns 4,220,918 shares of the oil and natural gas company’s stock worth $40,816,000 after purchasing an additional 884,793 shares during the period.
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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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