SRC Energy Inc (SRCI) Receives Average Rating of “Buy” from Brokerages

SRC Energy Inc (NYSEAMERICAN:SRCI) has received an average rating of “Buy” from the twenty-two analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.97.

A number of equities research analysts recently weighed in on SRCI shares. Credit Suisse Group started coverage on shares of SRC Energy in a research note on Monday, December 11th. They issued an “underperform” rating and a $8.00 target price on the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $12.00 target price on shares of SRC Energy in a research note on Friday, October 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $13.00 target price on shares of SRC Energy in a research note on Tuesday, November 7th. Robert W. Baird lowered their target price on shares of SRC Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Monday, December 18th. Finally, Zacks Investment Research downgraded shares of SRC Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 10th.

Institutional investors have recently modified their holdings of the company. Miller Howard Investments Inc. NY bought a new position in shares of SRC Energy in the third quarter worth approximately $168,000. GSA Capital Partners LLP grew its holdings in shares of SRC Energy by 362.9% in the third quarter. GSA Capital Partners LLP now owns 91,778 shares of the oil and natural gas company’s stock worth $887,000 after purchasing an additional 71,952 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of SRC Energy by 5.2% in the third quarter. Wells Fargo & Company MN now owns 719,747 shares of the oil and natural gas company’s stock worth $6,960,000 after purchasing an additional 35,771 shares during the last quarter. Northern Trust Corp grew its holdings in shares of SRC Energy by 6.3% in the second quarter. Northern Trust Corp now owns 3,562,827 shares of the oil and natural gas company’s stock worth $23,977,000 after purchasing an additional 212,710 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of SRC Energy by 78.7% in the third quarter. Prudential Financial Inc. now owns 613,450 shares of the oil and natural gas company’s stock worth $5,932,000 after purchasing an additional 270,090 shares during the last quarter.

Shares of SRC Energy (SRCI) opened at $8.63 on Friday. The stock has a market cap of $2,240.00, a PE ratio of 17.98 and a beta of 1.57. SRC Energy has a fifty-two week low of $6.19 and a fifty-two week high of $10.44.

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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.

Analyst Recommendations for SRC Energy (NYSEAMERICAN:SRCI)

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