Bank of New York Mellon Corp lessened its position in shares of SRC Energy Inc (NASDAQ:SRCI) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,765,556 shares of the oil and natural gas company’s stock after selling 34,461 shares during the quarter. Bank of New York Mellon Corp owned about 2.37% of SRC Energy worth $32,072,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRCI. BlackRock Inc. purchased a new position in SRC Energy during the 1st quarter valued at approximately $203,143,000. Victory Capital Management Inc. purchased a new position in SRC Energy during the 1st quarter valued at approximately $120,737,000. Alliancebernstein L.P. purchased a new position in SRC Energy during the 1st quarter valued at approximately $116,804,000. Vanguard Group Inc. purchased a new position in SRC Energy during the 1st quarter valued at approximately $87,294,000. Finally, JPMorgan Chase & Co. purchased a new position in SRC Energy during the 1st quarter valued at approximately $87,050,000.
Several equities analysts have weighed in on the company. BMO Capital Markets set a $9.00 price target on SRC Energy and gave the company a “hold” rating in a report on Sunday, August 13th. Robert W. Baird restated a “buy” rating and set a $12.00 price target on shares of SRC Energy in a report on Friday, September 1st. Scotiabank set a $10.00 price target on SRC Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Citigroup Inc. raised their price target on SRC Energy from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Finally, Roth Capital set a $11.00 price target on SRC Energy and gave the company a “buy” rating in a report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $11.40.
Shares of SRC Energy Inc (SRCI) opened at 7.48 on Monday. The company has a market capitalization of $1.50 billion and a price-to-earnings ratio of 44.26. The stock has a 50 day moving average price of $7.93 and a 200 day moving average price of $7.60. SRC Energy Inc has a 1-year low of $5.87 and a 1-year high of $10.38.
SRC Energy (NASDAQ:SRCI) last posted its quarterly earnings data on Thursday, August 3rd. The oil and natural gas company reported $0.14 EPS for the quarter, topping 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 analyst estimates of $68.08 million. On average, equities analysts anticipate that SRC Energy Inc will post $0.60 EPS for the current fiscal year.
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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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