SRC Energy Inc (NYSEAMERICAN:SRCI) – Equities research analysts at KeyCorp boosted their FY2017 earnings per share estimates for SRC Energy in a research report issued to clients and investors on Tuesday. KeyCorp analyst D. Deckelbaum now expects that the oil and natural gas company will post earnings of $0.69 per share for the year, up from their prior forecast of $0.66. KeyCorp currently has a “Buy” rating and a $10.00 price target on the stock. KeyCorp also issued estimates for SRC Energy’s Q4 2017 earnings at $0.24 EPS, Q1 2018 earnings at $0.19 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.22 EPS and FY2018 earnings at $0.77 EPS.
Several other analysts have also recently issued reports on SRCI. SunTrust Banks reaffirmed a “buy” rating and issued a $12.00 price target on shares of SRC Energy in a report on Friday, October 27th. BidaskClub cut shares of SRC Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Stephens reaffirmed an “overweight” rating and issued a $12.00 price target (up from $11.00) on shares of SRC Energy in a report on Saturday, September 30th. Imperial Capital started coverage on shares of SRC Energy in a report on Thursday, September 28th. They issued an “outperform” rating and a $11.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $13.00 price target on shares of SRC Energy in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $11.78.
Large investors have recently modified their holdings of the business. GSA Capital Partners LLP grew its position in shares of SRC Energy by 362.9% during 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 acquiring an additional 71,952 shares during the last quarter. Dean Investment Associates LLC bought a new position in shares of SRC Energy during the third quarter worth about $6,441,000. Cubist Systematic Strategies LLC bought a new position in shares of SRC Energy during the third quarter worth about $109,000. Caxton Associates LP bought a new position in shares of SRC Energy during the third quarter worth about $352,000. Finally, Jane Street Group LLC bought a new position in shares of SRC Energy during the third quarter worth about $616,000.
About SRC Energy
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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