Citigroup Cuts SRC Energy (SRCI) Price Target to $9.50

SRC Energy (NYSEAMERICAN:SRCI) had its price objective decreased by analysts at Citigroup from $10.00 to $9.50 in a report released on Tuesday. The firm currently has a “neutral” rating on the oil and natural gas company’s stock. Citigroup’s target price points to a potential upside of 9.07% from the stock’s current price.

Several other research analysts also recently commented on SRCI. Scotiabank set a $14.00 price objective on shares of SRC Energy and gave the company a “buy” rating in a research report on Tuesday, October 17th. SunTrust Banks reissued a “buy” rating and set a $12.00 price objective on shares of SRC Energy in a research report on Friday, October 27th. Zacks Investment Research raised shares of SRC Energy from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Saturday, October 28th. Royal Bank of Canada reissued a “buy” rating and set a $13.00 price objective on shares of SRC Energy in a research report on Tuesday, November 7th. Finally, Robert W. Baird reduced their price objective on shares of SRC Energy from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. 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 issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $12.13.

Shares of SRC Energy (NYSEAMERICAN:SRCI) traded down $0.14 during midday trading on Tuesday, hitting $8.71. 193,705 shares of the company traded hands, compared to its average volume of 2,895,995. SRC Energy has a 12 month low of $6.19 and a 12 month high of $10.44. The stock has a market capitalization of $2,110.00, a P/E ratio of 18.15 and a beta of 1.57.

A number of institutional investors have recently made changes to their positions in SRCI. Commerce Bank bought a new position in SRC Energy in the 1st quarter worth about $101,000. UBS Group AG bought a new position in SRC Energy during the 1st quarter valued at about $101,000. Piedmont Investment Advisors LLC bought a new position in SRC Energy during the 1st quarter valued at about $101,000. Teacher Retirement System of Texas lifted its stake in SRC Energy by 3.3% during the 2nd 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 acquiring an additional 502 shares during the period. Finally, Flinton Capital Management LLC bought a new position in SRC Energy during the 1st quarter valued at about $105,000.

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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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