SRC Energy Inc (NASDAQ:SRCI)‘s stock had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada in a report issued on Thursday. They currently have a $13.00 target price on the oil and natural gas company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 36.84% from the company’s current price.

SRCI has been the subject of a number of other research reports. BMO Capital Markets set a $9.00 price target on SRC Energy and gave the stock a “hold” rating in a research note on Sunday, August 13th. Robert W. Baird reiterated a “buy” rating and issued a $12.00 price target on shares of SRC Energy in a research note on Friday, September 1st. Scotiabank set a $10.00 price target on SRC Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. Citigroup Inc. increased their price target on SRC Energy from $8.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Finally, Roth Capital set a $11.00 price target on SRC Energy and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. SRC Energy presently has a consensus rating of “Buy” and an average price target of $11.42.

SRC Energy (NASDAQ SRCI) traded down 0.21% during trading on Thursday, reaching $9.49. The company had a trading volume of 520,190 shares. The firm has a market capitalization of $1.91 billion and a P/E ratio of 56.15. The firm’s 50-day moving average price is $7.96 and its 200 day moving average price is $7.58. SRC Energy has a one year low of $6.19 and a one year high of $10.38.

SRC Energy (NASDAQ:SRCI) last issued its quarterly earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $75.04 million during the quarter, compared to analyst estimates of $68.08 million. Equities analysts forecast that SRC Energy will post $0.60 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. Karp Capital Management Corp purchased a new position in shares of SRC Energy during the first quarter valued at about $438,000. Ameritas Investment Partners Inc. purchased a new position in shares of SRC Energy during the first quarter valued at about $136,000. BlackRock Inc. purchased a new position in shares of SRC Energy during the first quarter valued at about $203,143,000. Vivaldi Asset Management LLC purchased a new position in shares of SRC Energy during the second quarter valued at about $3,321,000. Finally, State Street Corp purchased a new position in shares of SRC Energy during the first quarter valued at about $68,552,000.

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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