SRC Energy Inc (NYSEAMERICAN:SRCI) – Investment analysts at KeyCorp cut their Q4 2019 earnings per share (EPS) estimates for shares of SRC Energy in a report issued on Wednesday, November 6th. KeyCorp analyst L. Mariani now expects that the oil and natural gas company will post earnings of $0.16 per share for the quarter, down from their prior estimate of $0.17. KeyCorp currently has a “Overweight” rating and a $5.00 target price on the stock. KeyCorp also issued estimates for SRC Energy’s Q3 2020 earnings at $0.15 EPS, Q4 2020 earnings at $0.18 EPS and FY2020 earnings at $0.65 EPS.
A number of other brokerages have also recently weighed in on SRCI. Zacks Investment Research upgraded shares of SRC Energy from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Roth Capital cut shares of SRC Energy from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. Capital One Financial upgraded shares of SRC Energy from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 27th. Raymond James restated a “strong-buy” rating and issued a $6.00 price objective (down previously from $7.00) on shares of SRC Energy in a report on Friday, August 2nd. Finally, Jefferies Financial Group set a $6.00 price objective on shares of SRC Energy and gave the stock a “buy” rating in a report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $10.39.
Shares of NYSEAMERICAN SRCI traded down $0.05 during midday trading on Friday, hitting $3.98. 4,641,545 shares of the company traded hands, compared to its average volume of 4,663,794. SRC Energy has a 12-month low of $3.07 and a 12-month high of $7.65.
A number of institutional investors have recently modified their holdings of SRCI. Strs Ohio purchased a new stake in shares of SRC Energy in the second quarter worth $43,000. SRS Capital Advisors Inc. purchased a new position in SRC Energy during the 2nd quarter valued at about $49,000. Denali Advisors LLC purchased a new position in SRC Energy during the 2nd quarter valued at about $53,000. GAM Holding AG purchased a new position in SRC Energy during the 2nd quarter valued at about $54,000. Finally, Ellington Management Group LLC purchased a new position in SRC Energy during the 2nd quarter valued at about $57,000.
About SRC Energy
SRC Energy Inc, an 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, 2018, it had net proved oil and natural gas reserves of 88 million barrels of oil and condensate, 771.9 billion cubic feet of natural gas, and 89.1 million barrels of natural gas liquids; and operated 985 net producing wells, as well as had 95,200 gross and 86,200 net acres under lease in the Wattenberg Field.
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