Piper Jaffray Companies Reaffirms Buy Rating for SRC Energy (SRCI)

Piper Jaffray Companies reissued their buy rating on shares of SRC Energy (NYSEAMERICAN:SRCI) in a research report released on Tuesday morning. The brokerage currently has a $14.00 price objective on the oil and natural gas company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada downgraded shares of SRC Energy from an outperform rating to a sector perform rating in a research report on Friday, January 5th. Robert W. Baird lowered their price objective on shares of SRC Energy from $12.00 to $11.00 and set an outperform rating for the company in a research report on Monday, December 18th. Credit Suisse Group assumed coverage on shares of SRC Energy in a research report on Monday, December 11th. They issued an underperform rating and a $8.00 target price for the company. BMO Capital Markets set a $10.00 target price on shares of SRC Energy and gave the stock a hold rating in a research report on Tuesday, November 14th. Finally, BidaskClub cut shares of SRC Energy from a hold rating to a sell rating in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. SRC Energy currently has a consensus rating of Buy and a consensus price target of $11.88.

Shares of SRC Energy (NYSEAMERICAN SRCI) traded up $0.02 during trading hours on Tuesday, hitting $9.00. 2,870,000 shares of the company were exchanged, compared to its average volume of 2,880,000. SRC Energy has a twelve month low of $6.19 and a twelve month high of $10.22. The company has a market cap of $2,170.00, a P/E ratio of 18.75 and a beta of 1.55.

Several large investors have recently modified their holdings of the company. Carnick & Kubik Group LLC acquired a new stake in SRC Energy during the third quarter valued at approximately $106,000. Cubist Systematic Strategies LLC acquired a new stake in SRC Energy during the third quarter valued at approximately $109,000. Ameritas Investment Partners Inc. lifted its stake in SRC Energy by 9.9% during the second quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock valued at $119,000 after purchasing an additional 1,584 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in SRC Energy during the second quarter valued at approximately $133,000. Finally, Shelton Capital Management acquired a new stake in SRC Energy during the second quarter valued at approximately $134,000.

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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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