James Investment Research Inc. reduced its holdings in SRC Energy Inc (NYSEAMERICAN:SRCI) by 96.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,139 shares of the oil and natural gas company’s stock after selling 230,383 shares during the period. James Investment Research Inc.’s holdings in SRC Energy were worth $47,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its position in SRC Energy by 30.0% during the first quarter. BNP Paribas Arbitrage SA now owns 190,195 shares of the oil and natural gas company’s stock worth $974,000 after buying an additional 43,926 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in SRC Energy by 13.8% in the first quarter. Virginia Retirement Systems ET AL now owns 186,600 shares of the oil and natural gas company’s stock valued at $955,000 after purchasing an additional 22,700 shares during the period. Versant Capital Management Inc raised its position in SRC Energy by 75.4% in the first quarter. Versant Capital Management Inc now owns 7,835 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 3,368 shares during the period. First Citizens Bank & Trust Co. raised its position in SRC Energy by 87.3% in the first quarter. First Citizens Bank & Trust Co. now owns 24,335 shares of the oil and natural gas company’s stock valued at $125,000 after purchasing an additional 11,342 shares during the period. Finally, 6 Meridian purchased a new stake in SRC Energy in the first quarter valued at $204,000.
Several equities research analysts recently issued reports on SRCI shares. Imperial Capital reiterated an “outperform” rating and issued a $14.00 price objective (up previously from $11.00) on shares of SRC Energy in a report on Friday, February 8th. Ifs Securities upgraded SRC Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, February 7th. TheStreet raised SRC Energy from a “d+” rating to a “c” rating in a research note on Wednesday, March 6th. Robert W. Baird set a $5.00 target price on SRC Energy and gave the stock a “buy” rating in a research note on Friday, February 8th. Finally, BMO Capital Markets lowered their target price on SRC Energy to $7.00 and set a “market perform” rating for the company in a research note on Thursday, February 7th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. SRC Energy presently has a consensus rating of “Buy” and an average target price of $11.87.
Shares of NYSEAMERICAN:SRCI traded up $0.19 on Wednesday, hitting $5.35. 3,688,131 shares of the company’s stock were exchanged, compared to its average volume of 3,915,006. SRC Energy Inc has a 1-year low of $4.01 and a 1-year high of $13.32.
SRC Energy (NYSEAMERICAN:SRCI) last announced its earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $189.46 million during the quarter, compared to analyst estimates of $178.20 million.
SRC Energy Profile
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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