SRC Energy Inc (SRCI) Given Average Recommendation of “Buy” by Brokerages

SRC Energy Inc (NYSEMKT:SRCI) has earned an average rating of “Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.21.

A number of equities analysts recently commented on SRCI shares. Piper Jaffray Companies reissued an “overweight” rating and issued a $11.00 price objective on shares of SRC Energy in a research note on Wednesday, April 12th. Capital One Financial Corporation reaffirmed an “overweight” rating on shares of SRC Energy in a report on Tuesday, April 25th. Finally, Seaport Global Securities lowered shares of SRC Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $5.00 in a report on Wednesday, June 21st.

Shares of SRC Energy (NYSEMKT SRCI) traded up 0.60% during mid-day trading on Monday, hitting $8.37. The company had a trading volume of 2,949,101 shares. SRC Energy has a one year low of $5.87 and a one year high of $10.38. The company’s 50-day moving average is $7.24 and its 200 day moving average is $7.75. The company’s market capitalization is $1.68 billion.

A hedge fund recently raised its stake in SRC Energy stock. Metropolitan Life Insurance Co. NY increased its stake in SRC Energy Inc (NYSEMKT:SRCI) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,703 shares of the oil and natural gas company’s stock after buying an additional 738 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.07% of SRC Energy worth $1,182,000 at the end of the most recent quarter.

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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.

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