Morgan Stanley purchased a new stake in shares of SRC Energy Inc (NASDAQ:SRCI) during the first quarter, Holdings Channel reports. The fund purchased 439,223 shares of the oil and natural gas company’s stock, valued at approximately $3,707,000.

Several other large investors also recently made changes to their positions in SRCI. Victory Capital Management Inc. bought a new stake in shares of SRC Energy during the first quarter valued at $120,737,000. Alliancebernstein L.P. bought a new position in SRC Energy during the first quarter valued at $116,804,000. Vanguard Group Inc. bought a new position in SRC Energy during the first quarter valued at $87,294,000. JPMorgan Chase & Co. bought a new position in SRC Energy during the first quarter valued at $87,050,000. Finally, Wellington Management Group LLP bought a new position in SRC Energy during the first quarter valued at $77,595,000.

SRC Energy Inc (NASDAQ SRCI) traded up 0.75% during mid-day trading on Wednesday, hitting $8.07. The stock had a trading volume of 149,103 shares. The stock has a market cap of $1.62 billion and a price-to-earnings ratio of 47.75. The stock’s 50-day moving average price is $7.57 and its 200-day moving average price is $7.71. SRC Energy Inc has a 12 month low of $5.87 and a 12 month high of $10.38.

SRC Energy (NASDAQ:SRCI) last released its earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm had revenue of $75.04 million for the quarter, compared to the consensus estimate of $68.08 million. SRC Energy had a return on equity of 9.36% and a net margin of 44.12%. On average, analysts predict that SRC Energy Inc will post $0.59 earnings per share for the current year.

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Several research firms recently weighed in on SRCI. Wells Fargo & Company cut shares of SRC Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. BMO Capital Markets set a $9.00 price objective on shares of SRC Energy and gave the stock a “hold” rating in a research report on Sunday. Scotiabank set a $10.00 price objective on shares of SRC Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. Citigroup Inc. upped their price objective on shares of SRC Energy from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Roth Capital set a $11.00 price target on shares of SRC Energy and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $11.34.

In related news, COO Nicholas Spence bought 8,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were purchased at an average price of $6.45 per share, with a total value of $51,600.00. Following the transaction, the chief operating officer now owns 108,222 shares in the company, valued at approximately $698,031.90. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

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