BlackRock Inc. Has $371.21 Million Position in SRC Energy Inc (SRCI)

BlackRock Inc. boosted its holdings in SRC Energy Inc (NYSEAMERICAN:SRCI) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,684,662 shares of the oil and natural gas company’s stock after buying an additional 1,991,238 shares during the period. BlackRock Inc. owned approximately 13.89% of SRC Energy worth $371,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dana Investment Advisors Inc. acquired a new stake in SRC Energy in the second quarter worth $2,020,000. Dupont Capital Management Corp raised its holdings in SRC Energy by 249.1% in the second quarter. Dupont Capital Management Corp now owns 216,534 shares of the oil and natural gas company’s stock worth $2,386,000 after purchasing an additional 154,511 shares during the period. WealthPLAN Partners LLC raised its holdings in SRC Energy by 2.4% in the first quarter. WealthPLAN Partners LLC now owns 261,000 shares of the oil and natural gas company’s stock worth $2,462,000 after purchasing an additional 6,000 shares during the period. JPMorgan Chase & Co. raised its holdings in SRC Energy by 5.5% in the first quarter. JPMorgan Chase & Co. now owns 12,286,426 shares of the oil and natural gas company’s stock worth $115,861,000 after purchasing an additional 639,985 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in SRC Energy in the second quarter worth $21,820,000.

In other news, CFO James P. Henderson acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was bought at an average price of $9.26 per share, with a total value of $92,600.00. Following the transaction, the chief financial officer now directly owns 252,412 shares in the company, valued at approximately $2,337,335.12. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lynn A. Peterson acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average cost of $9.26 per share, with a total value of $185,200.00. Following the transaction, the chief executive officer now owns 626,591 shares in the company, valued at $5,802,232.66. The disclosure for this purchase can be found here.

SRCI has been the subject of several research reports. Seaport Global Securities reissued a “neutral” rating on shares of SRC Energy in a research report on Tuesday, July 24th. KLR Group raised shares of SRC Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday, June 8th. KeyCorp set a $15.00 price objective on shares of SRC Energy and gave the stock a “buy” rating in a research report on Thursday, May 24th. Robert W. Baird downgraded shares of SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 price objective for the company. in a research report on Tuesday, August 14th. Finally, Zacks Investment Research downgraded shares of SRC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.78.

SRC Energy stock opened at $8.67 on Friday. SRC Energy Inc has a 1-year low of $7.76 and a 1-year high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last released its earnings results on Wednesday, August 1st. The oil and natural gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $147.09 million during the quarter, compared to the consensus estimate of $144.87 million. SRC Energy had a net margin of 36.53% and a return on equity of 18.08%.

SRC Energy Profile

SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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Institutional Ownership by Quarter for SRC Energy (NYSEAMERICAN:SRCI)

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