Teachers Advisors LLC bought a new position in shares of SRC Energy Inc (NASDAQ:SRCI) during the first quarter, Holdings Channel reports. The institutional investor bought 326,057 shares of the oil and natural gas company’s stock, valued at approximately $2,752,000.

Other large investors also recently added to or reduced their stakes in the company. Commerce Bank bought a new stake in SRC Energy during the first quarter worth about $101,000. Flinton Capital Management LLC bought a new stake in SRC Energy during the first quarter worth about $105,000. World Asset Management Inc bought a new stake in SRC Energy during the first quarter worth about $106,000. OppenheimerFunds Inc. bought a new stake in SRC Energy during the first quarter worth about $118,000. Finally, Ameritas Investment Partners Inc. bought a new stake in SRC Energy during the first quarter worth about $136,000.

Shares of SRC Energy Inc (NASDAQ SRCI) traded down 1.39% on Tuesday, reaching $7.81. 125,543 shares of the company’s stock were exchanged. SRC Energy Inc has a 12 month low of $5.87 and a 12 month high of $10.38. The company has a market capitalization of $1.57 billion and a P/E ratio of 46.21. The firm’s 50 day moving average price is $7.53 and its 200-day moving average price is $7.71.

SRC Energy (NASDAQ:SRCI) last announced its quarterly earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. SRC Energy had a return on equity of 9.36% and a net margin of 44.12%. The company had revenue of $75.04 million for the quarter, compared to the consensus estimate of $68.08 million. On average, equities analysts anticipate that SRC Energy Inc will post $0.59 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Teachers Advisors LLC Invests $2.75 Million in SRC Energy Inc (SRCI)” was published by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://www.watchlistnews.com/teachers-advisors-llc-invests-2-75-million-in-src-energy-inc-srci/1491551.html.

A number of research firms recently issued reports on SRCI. Scotiabank set a $10.00 target price on shares of SRC Energy and gave the company a “buy” rating in a report on Saturday, July 1st. BMO Capital Markets set a $9.00 target price on shares of SRC Energy and gave the company a “hold” rating in a report on Sunday. Roth Capital set a $11.00 target price on shares of SRC Energy and gave the company a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus restated a “buy” rating and issued a $10.00 target price on shares of SRC Energy in a report on Friday, July 14th. Finally, Seaport Global Securities downgraded shares of SRC Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $10.00 to $5.00 in a report on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $11.63.

In related news, COO Nicholas Spence purchased 8,000 shares of the stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $6.45 per share, for a total transaction of $51,600.00. Following the completion of the acquisition, the chief operating officer now directly owns 108,222 shares in the company, valued at approximately $698,031.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

About SRC Energy

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.

Want to see what other hedge funds are holding SRCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SRC Energy Inc (NASDAQ:SRCI).

Institutional Ownership by Quarter for SRC Energy (NASDAQ:SRCI)

Receive News & Ratings for SRC Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SRC Energy Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.