Royal Bank Of Canada restated their buy rating on shares of SRC Energy Inc (NASDAQ:SRCI) in a research report report published on Thursday. The firm currently has a $13.00 price target on the oil and natural gas company’s stock.

Several other equities research analysts also recently commented on SRCI. BMO Capital Markets reiterated a hold rating and set a $9.00 target price on shares of SRC Energy in a research report on Wednesday, June 21st. Seaport Global Securities downgraded shares of SRC Energy from a buy rating to a neutral rating and cut their target price for the stock from $10.00 to $5.00 in a research report on Wednesday, June 21st. Scotiabank reiterated a buy rating and set a $11.00 target price on shares of SRC Energy in a research report on Thursday, June 22nd. Stifel Nicolaus reiterated a buy rating and set a $10.00 target price on shares of SRC Energy in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of SRC Energy from a hold rating to a buy rating and set a $8.25 target price on the stock in a research report on Thursday, July 20th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. SRC Energy presently has an average rating of Buy and an average price target of $11.42.

Shares of SRC Energy (SRCI) traded down 1.15% during trading on Thursday, hitting $9.45. 2,130,311 shares of the stock were exchanged. SRC Energy has a 52 week low of $6.19 and a 52 week high of $10.38. The firm has a 50 day moving average price of $7.96 and a 200 day moving average price of $7.58. The firm has a market capitalization of $1.90 billion and a P/E ratio of 55.92.

SRC Energy (NASDAQ:SRCI) last posted its earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. SRC Energy had a net margin of 37.23% and a return on equity of 12.75%. The business had revenue of $75.04 million for the quarter, compared to the consensus estimate of $68.08 million. Analysts forecast that SRC Energy will post $0.60 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of SRC Energy by 1.6% in the 2nd quarter. BlackRock Inc. now owns 24,464,771 shares of the oil and natural gas company’s stock valued at $164,648,000 after acquiring an additional 395,846 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of SRC Energy by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,734,473 shares of the oil and natural gas company’s stock valued at $78,972,000 after acquiring an additional 1,420,495 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of SRC Energy by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 10,901,745 shares of the oil and natural gas company’s stock valued at $73,369,000 after acquiring an additional 558,923 shares in the last quarter. Fine Capital Partners L.P. increased its stake in shares of SRC Energy by 21.5% in the 2nd quarter. Fine Capital Partners L.P. now owns 10,234,909 shares of the oil and natural gas company’s stock valued at $68,881,000 after acquiring an additional 1,813,361 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of SRC Energy in the 1st quarter valued at $77,595,000.

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.

Analyst Recommendations for SRC Energy (NASDAQ:SRCI)

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