Luminus Management LLC purchased a new position in shares of SRC Energy Inc (NYSEAMERICAN:SRCI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 313,084 shares of the oil and natural gas company’s stock, valued at approximately $2,671,000. Luminus Management LLC owned approximately 0.13% of SRC Energy as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in SRCI. Cubist Systematic Strategies LLC purchased a new stake in shares of SRC Energy during the third quarter worth $109,000. Allen Capital Group LLC purchased a new stake in shares of SRC Energy during the fourth quarter worth $113,000. Financial Gravity Companies Inc. purchased a new stake in shares of SRC Energy during the fourth quarter worth $133,000. Atria Investments LLC purchased a new stake in shares of SRC Energy during the fourth quarter worth $135,000. Finally, King Luther Capital Management Corp purchased a new stake in shares of SRC Energy during the fourth quarter worth $158,000.
A number of analysts have recently weighed in on the company. Imperial Capital reaffirmed an “outperform” rating and set a $16.00 price objective (up previously from $14.00) on shares of SRC Energy in a research report on Thursday, February 1st. Credit Suisse Group raised SRC Energy from an “underperform” rating to a “neutral” rating and set a $8.00 price objective on the stock in a research report on Wednesday, January 31st. Zacks Investment Research raised SRC Energy from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research report on Saturday, February 3rd. Royal Bank of Canada lowered SRC Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 5th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $14.00 price objective on shares of SRC Energy in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $12.36.
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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.
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