SRC Energy Inc (SRCI) Research Coverage Started at Jefferies Group LLC

Jefferies Group LLC started coverage on shares of SRC Energy Inc (NASDAQ:SRCI) in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $12.00 target price on the oil and natural gas company’s stock.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of SRC Energy from a hold rating to a buy rating and set a $8.25 target price on the stock in a research note on Thursday, July 20th. Robert W. Baird reiterated a buy rating and issued a $12.00 target price on shares of SRC Energy in a research note on Friday, September 1st. Seaport Global Securities downgraded shares of SRC Energy from a buy rating to a neutral rating and dropped their target price for the stock from $10.00 to $5.00 in a research note on Wednesday, June 21st. Stifel Nicolaus reiterated a buy rating and issued a $10.00 target price on shares of SRC Energy in a research note on Friday, July 14th. Finally, Scotiabank reiterated a buy rating and issued a $11.00 target price on shares of SRC Energy in a research note on Thursday, June 22nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $11.51.

SRC Energy (SRCI) opened at 9.29 on Monday. SRC Energy has a 52-week low of $6.19 and a 52-week high of $10.38. The firm’s 50 day moving average is $7.96 and its 200 day moving average is $7.59. The company has a market cap of $1.87 billion and a PE ratio of 54.97.

SRC Energy (NASDAQ:SRCI) last issued its earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. The firm had revenue of $75.04 million for 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 $0.59 EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. UBS Group AG bought a new position in SRC Energy during the first quarter valued at approximately $101,000. Piedmont Investment Advisors LLC bought a new position in SRC Energy during the first quarter valued at approximately $101,000. Teacher Retirement System of Texas lifted its position in 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 valued at $104,000 after purchasing an additional 502 shares during the period. World Asset Management Inc bought a new position in SRC Energy during the first quarter valued at approximately $106,000. Finally, OppenheimerFunds Inc. bought a new position in SRC Energy during the first quarter valued at approximately $118,000.

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.

Analyst Recommendations for SRC Energy (NASDAQ:SRCI)

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