Robert W. Baird Analysts Give SRC Energy Inc (SRCI) a $12.00 Price Target
SRC Energy Inc (NASDAQ:SRCI) has been assigned a $12.00 price objective by equities research analysts at Robert W. Baird in a research note issued on Thursday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Robert W. Baird’s price objective suggests a potential upside of 29.45% from the stock’s current price.
Other analysts also recently issued reports about the company. Scotiabank set a $10.00 price objective on SRC Energy and gave the stock a “buy” rating in a research note on Saturday, July 1st. Seaport Global Securities downgraded SRC Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $5.00 in a research note on Wednesday, June 21st. BMO Capital Markets reissued a “hold” rating and issued a $9.00 price objective on shares of SRC Energy in a research note on Wednesday, June 21st. KeyCorp reissued a “buy” rating and issued a $10.00 price objective on shares of SRC Energy in a research note on Tuesday, September 19th. Finally, Citigroup Inc. increased their price objective on SRC Energy from $8.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. SRC Energy presently has an average rating of “Buy” and a consensus target price of $11.51.
SRC Energy (SRCI) traded down 0.22% on Thursday, reaching $9.27. The stock’s 50 day moving average price is $7.96 and its 200-day moving average price is $7.59. SRC Energy has a 1-year low of $6.19 and a 1-year high of $10.38. The firm has a market cap of $1.86 billion and a P/E ratio of 54.85.
SRC Energy (NASDAQ:SRCI) last issued its quarterly earnings data on Thursday, August 3rd. The oil and natural gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The firm had revenue of $75.04 million during the quarter, compared to the consensus estimate of $68.08 million. SRC Energy had a return on equity of 12.75% and a net margin of 37.23%. On average, analysts predict that SRC Energy will post $0.59 earnings per share for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Karp Capital Management Corp bought a new position in shares of SRC Energy in the first quarter valued at approximately $438,000. Ameritas Investment Partners Inc. bought a new position in shares of SRC Energy in the first quarter valued at approximately $136,000. BlackRock Inc. bought a new position in shares of SRC Energy in the first quarter valued at approximately $203,143,000. Vivaldi Asset Management LLC bought a new position in shares of SRC Energy in the second quarter valued at approximately $3,321,000. Finally, State Street Corp bought a new position in shares of SRC Energy in the first quarter valued at approximately $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.
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