Q3 2019 EPS Estimates for SRC Energy Inc (SRCI) Cut by Analyst

SRC Energy Inc (NYSEAMERICAN:SRCI) – Equities researchers at Seaport Global Securities cut their Q3 2019 earnings estimates for shares of SRC Energy in a research note issued to investors on Monday, February 11th. Seaport Global Securities analyst J. Aschenbeck now anticipates that the oil and natural gas company will post earnings per share of $0.13 for the quarter, down from their prior estimate of $0.14. Seaport Global Securities also issued estimates for SRC Energy’s Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.61 EPS, Q1 2020 earnings at $0.17 EPS and Q4 2020 earnings at $0.21 EPS.

A number of other research firms have also recently weighed in on SRCI. Robert W. Baird upgraded shares of SRC Energy from a “neutral” rating to an “outperform” rating and raised their price target for the company from $10.00 to $12.00 in a report on Monday, October 15th. Roth Capital upgraded shares of SRC Energy from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, October 18th. Zacks Investment Research upgraded shares of SRC Energy from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Thursday, October 25th. JPMorgan Chase & Co. cut shares of SRC Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $6.00 in a research note on Friday, December 7th. Finally, Raymond James set a $8.00 target price on shares of SRC Energy and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.94.

NYSEAMERICAN:SRCI opened at $4.17 on Tuesday. SRC Energy has a fifty-two week low of $4.01 and a fifty-two week high of $13.32.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Asset Management Inc. increased its holdings in SRC Energy by 0.5% in the 4th quarter. Eagle Asset Management Inc. now owns 489,594 shares of the oil and natural gas company’s stock worth $2,301,000 after acquiring an additional 2,589 shares in the last quarter. Allen Capital Group LLC grew its holdings in shares of SRC Energy by 17.5% during the fourth quarter. Allen Capital Group LLC now owns 18,970 shares of the oil and natural gas company’s stock worth $96,000 after buying an additional 2,825 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of SRC Energy by 15.8% during the fourth quarter. Private Advisor Group LLC now owns 22,445 shares of the oil and natural gas company’s stock worth $105,000 after buying an additional 3,068 shares in the last quarter. Bowling Portfolio Management LLC grew its holdings in shares of SRC Energy by 2.6% during the fourth quarter. Bowling Portfolio Management LLC now owns 124,310 shares of the oil and natural gas company’s stock worth $584,000 after buying an additional 3,177 shares in the last quarter. Finally, Gradient Investments LLC grew its holdings in shares of SRC Energy by 2.8% during the fourth quarter. Gradient Investments LLC now owns 165,770 shares of the oil and natural gas company’s stock worth $779,000 after buying an additional 4,487 shares in the last quarter.

SRC Energy Company 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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Earnings History and Estimates for SRC Energy (NYSEAMERICAN:SRCI)

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