SRC Energy Inc (NYSEAMERICAN:SRCI) saw a significant drop in short interest in September. As of September 14th, there was short interest totalling 25,779,820 shares, a drop of 0.9% from the August 31st total of 26,009,830 shares. Approximately 10.7% of the company’s shares are short sold. Based on an average trading volume of 3,437,614 shares, the short-interest ratio is currently 7.5 days.

Shares of NYSEAMERICAN:SRCI opened at $8.56 on Wednesday. SRC Energy has a 1 year low of $7.76 and a 1 year high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last announced its quarterly earnings results on Wednesday, August 1st. The oil and natural gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $147.09 million during the quarter, compared to analyst estimates of $144.87 million. SRC Energy had a return on equity of 18.08% and a net margin of 36.53%.

In related news, CEO Lynn A. Peterson purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average price of $9.26 per share, for a total transaction of $185,200.00. Following the completion of the transaction, the chief executive officer now owns 626,591 shares in the company, valued at approximately $5,802,232.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James P. Henderson purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average price of $9.26 per share, with a total value of $92,600.00. Following the transaction, the chief financial officer now owns 252,412 shares of the company’s stock, valued at approximately $2,337,335.12. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dana Investment Advisors Inc. purchased a new stake in shares of SRC Energy in the second quarter valued at approximately $2,020,000. Wells Fargo & Company MN boosted its holdings in shares of SRC Energy by 18.9% in the second quarter. Wells Fargo & Company MN now owns 967,467 shares of the oil and natural gas company’s stock valued at $10,662,000 after purchasing an additional 153,640 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of SRC Energy by 249.1% in the second quarter. Dupont Capital Management Corp now owns 216,534 shares of the oil and natural gas company’s stock valued at $2,386,000 after purchasing an additional 154,511 shares during the period. SG Americas Securities LLC boosted its holdings in shares of SRC Energy by 25.1% in the second quarter. SG Americas Securities LLC now owns 162,375 shares of the oil and natural gas company’s stock valued at $1,789,000 after purchasing an additional 32,576 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of SRC Energy by 1.2% in the first quarter. BlackRock Inc. now owns 31,693,424 shares of the oil and natural gas company’s stock valued at $298,869,000 after purchasing an additional 361,596 shares during the period.

Several brokerages have issued reports on SRCI. Zacks Investment Research upgraded SRC Energy from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, July 13th. KLR Group upgraded SRC Energy from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Friday, June 8th. Jefferies Financial Group set a $15.00 target price on SRC Energy and gave the company a “buy” rating in a research report on Friday, August 3rd. Robert W. Baird lowered SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 target price for the company. in a research report on Tuesday, August 14th. Finally, Seaport Global Securities restated a “neutral” rating on shares of SRC Energy in a research report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $12.78.

SRC Energy Company Profile

SRC Energy Inc, an independent 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, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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