SRC Energy (SRCI) Cut to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada downgraded shares of SRC Energy (NYSEAMERICAN:SRCI) from an outperform rating to a sector perform rating in a research note published on Friday, Marketbeat.com reports.

Several other equities research analysts have also recently commented on the stock. KeyCorp reissued a buy rating and set a $10.00 price target on shares of SRC Energy in a research report on Tuesday, September 19th. Jefferies Group initiated coverage on shares of SRC Energy in a research report on Monday, October 9th. They set a buy rating and a $12.00 price target on the stock. Stifel Nicolaus set a $10.00 price target on shares of SRC Energy and gave the stock a buy rating in a research report on Thursday, October 5th. BidaskClub raised shares of SRC Energy from a hold rating to a buy rating in a research report on Tuesday, October 3rd. Finally, Roth Capital reissued a buy rating and set a $11.00 price target on shares of SRC Energy in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. SRC Energy has a consensus rating of Buy and an average target price of $11.73.

Shares of SRC Energy (NYSEAMERICAN SRCI) opened at $8.80 on Friday. The company has a market cap of $2,120.00, a price-to-earnings ratio of 18.33 and a beta of 1.55. SRC Energy has a 52-week low of $6.19 and a 52-week high of $10.22.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Carnick & Kubik Group LLC acquired a new position in shares of SRC Energy during the 3rd quarter worth approximately $106,000. Cubist Systematic Strategies LLC acquired a new position in shares of SRC Energy during the 3rd quarter worth approximately $109,000. Ameritas Investment Partners Inc. grew its position in shares of SRC Energy by 9.9% during 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 purchasing an additional 1,584 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of SRC Energy during the 2nd quarter worth approximately $133,000. Finally, Shelton Capital Management acquired a new position in shares of SRC Energy during the 2nd quarter worth approximately $134,000.

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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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