Stonebridge Capital Management Inc. lessened its holdings in SRC Energy Inc (NASDAQ:SRCI) by 42.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 21,945 shares of the oil and natural gas company’s stock after selling 16,370 shares during the period. Stonebridge Capital Management Inc.’s holdings in SRC Energy were worth $212,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SRCI. UBS Group AG purchased a new stake in SRC Energy in the 1st quarter worth $101,000. Teacher Retirement System of Texas increased its stake in SRC Energy by 3.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,503 shares of the oil and natural gas company’s stock worth $104,000 after buying an additional 502 shares in the last quarter. Carnick & Kubik Group LLC purchased a new stake in SRC Energy in the 3rd quarter worth $106,000. OppenheimerFunds Inc. purchased a new stake in SRC Energy in the 1st quarter worth $118,000. Finally, Ameritas Investment Partners Inc. increased its stake in SRC Energy by 9.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock worth $119,000 after buying an additional 1,584 shares in the last quarter.

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SRCI has been the subject of a number of analyst reports. Roth Capital reiterated a “buy” rating and issued a $11.00 price target on shares of SRC Energy in a research note on Monday, October 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $10.00 price target on shares of SRC Energy in a research note on Friday, July 14th. Stephens reiterated an “overweight” rating and issued a $12.00 price target (up previously from $11.00) on shares of SRC Energy in a research note on Saturday, September 30th. BMO Capital Markets set a $10.00 price target on SRC Energy and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Finally, Zacks Investment Research lowered SRC Energy from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. SRC Energy presently has a consensus rating of “Buy” and a consensus target price of $11.97.

Shares of SRC Energy Inc (SRCI) traded down $0.05 during trading on Monday, hitting $9.06. The stock had a trading volume of 517,705 shares.

SRC Energy (NASDAQ:SRCI) last posted its quarterly earnings data on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The company had revenue of $75.04 million during the quarter, compared to analyst estimates of $68.08 million. SRC Energy had a return on equity of 12.75% and a net margin of 37.23%.

SRC Energy 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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