SRC Energy Inc (SRCI) Sees Large Increase in Short Interest
SRC Energy Inc (NYSEAMERICAN:SRCI) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 36,719,402 shares, an increase of 0.1% from the November 15th total of 36,671,421 shares. Currently, 15.4% of the company’s stock are short sold. Based on an average trading volume of 2,714,914 shares, the short-interest ratio is presently 13.5 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of SRCI. UBS Group AG acquired a new stake in shares of SRC Energy in the first quarter valued at about $101,000. Teacher Retirement System of Texas grew its position in shares of SRC Energy by 3.3% in 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 last quarter. Carnick & Kubik Group LLC acquired a new stake in shares of SRC Energy in the third quarter valued at about $106,000. Cubist Systematic Strategies LLC acquired a new stake in shares of SRC Energy in the third quarter valued at about $109,000. Finally, Ameritas Investment Partners Inc. grew its position in shares of SRC Energy by 9.9% in the second quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock valued at $119,000 after purchasing an additional 1,584 shares during the last quarter.
Several analysts recently issued reports on SRCI shares. BMO Capital Markets set a $9.00 price objective on SRC Energy and gave the stock a “hold” rating in a report on Sunday, August 13th. Citigroup increased their price objective on SRC Energy from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, August 15th. Robert W. Baird reiterated a “buy” rating and set a $12.00 price objective on shares of SRC Energy in a report on Friday, September 1st. BidaskClub upgraded SRC Energy from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, KeyCorp reiterated a “buy” rating and set a $10.00 price objective on shares of SRC Energy in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. SRC Energy currently has a consensus rating of “Buy” and a consensus target price of $11.88.
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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