SRC Energy Inc (NYSEAMERICAN:SRCI) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 40,637,830 shares, a growth of 1.4% from the October 13th total of 40,064,006 shares. Approximately 20.6% of the company’s stock are short sold. Based on an average daily trading volume, of 2,559,386 shares, the days-to-cover ratio is presently 15.9 days.

Several hedge funds have recently made changes to their positions in SRCI. UBS Asset Management Americas Inc. acquired a new position in shares of SRC Energy in the first quarter valued at about $862,000. Parametric Portfolio Associates LLC acquired a new position in shares of SRC Energy in the first quarter valued at about $1,668,000. OppenheimerFunds Inc. acquired a new position in shares of SRC Energy in the first quarter valued at about $118,000. Teachers Advisors LLC acquired a new position in shares of SRC Energy in the first quarter valued at about $2,752,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of SRC Energy in the first quarter valued at about $4,251,000.

A number of brokerages recently weighed in on SRCI. Roth Capital restated a “buy” rating and set a $11.00 price objective on shares of SRC Energy in a research note on Monday, October 2nd. BidaskClub upgraded SRC Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Imperial Capital restated an “outperform” rating and set a $13.00 price objective (up from $11.00) on shares of SRC Energy in a research note on Monday. Stephens restated an “overweight” rating and set a $12.00 price objective (up from $11.00) on shares of SRC Energy in a research note on Saturday, September 30th. Finally, BMO Capital Markets set a $10.00 price objective on SRC Energy and gave the stock a “hold” rating in a research note on Tuesday, October 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.88.

SRC Energy (NYSEAMERICAN:SRCI) opened at $7.88 on Thursday. SRC Energy has a 1-year low of $6.19 and a 1-year high of $10.38.

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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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