Investors Purchase High Volume of SRC Energy Call Options (SRCI)
SRC Energy Inc (NASDAQ:SRCI) saw some unusual options trading on Thursday. Investors acquired 1,366 call options on the stock. This represents an increase of Infinity compared to the typical volume of 0 call options.
Shares of SRC Energy (NASDAQ SRCI) opened at $9.11 on Friday.
SRC Energy (NASDAQ:SRCI) last issued its quarterly earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. SRC Energy had a return on equity of 12.75% and a net margin of 37.23%. The firm had revenue of $75.04 million during the quarter, compared to analysts’ expectations of $68.08 million.
Several brokerages recently weighed in on SRCI. BMO Capital Markets set a $9.00 price target on SRC Energy and gave the company a “hold” rating in a research report on Sunday, August 13th. Robert W. Baird restated a “buy” rating and issued a $12.00 price objective on shares of SRC Energy in a research report on Friday, September 1st. Jefferies Group LLC began coverage on SRC Energy in a research report on Monday, October 9th. They issued a “buy” rating and a $12.00 price objective for the company. Stifel Nicolaus boosted their price objective on SRC Energy from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, Citigroup Inc. boosted their price objective on SRC Energy from $8.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, August 15th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. SRC Energy has an average rating of “Buy” and a consensus price target of $11.97.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of SRC Energy by 41.3% during the third quarter. BNP Paribas Arbitrage SA now owns 131,780 shares of the oil and natural gas company’s stock worth $1,274,000 after purchasing an additional 38,532 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of SRC Energy during the third quarter worth approximately $566,000. Prudential Financial Inc. increased its position in shares of SRC Energy by 78.7% during the third quarter. Prudential Financial Inc. now owns 613,450 shares of the oil and natural gas company’s stock worth $5,932,000 after purchasing an additional 270,090 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of SRC Energy during the third quarter worth approximately $600,000. Finally, Nine Chapters Capital Management LLC purchased a new stake in shares of SRC Energy during the third quarter worth approximately $242,000.
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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