SRC Energy (SRCI) Stock Price Down 6%

SRC Energy Inc (NYSEAMERICAN:SRCI) traded down 6% during mid-day trading on Friday . The company traded as low as $9.22 and last traded at $9.29. 2,976,598 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 3,161,795 shares. The stock had previously closed at $9.88.

A number of equities research analysts have issued reports on the stock. Imperial Capital reaffirmed an “outperform” rating and issued a $16.00 price objective (up from $14.00) on shares of SRC Energy in a research report on Thursday. Credit Suisse Group raised shares of SRC Energy from an “underperform” rating to a “neutral” rating and set a $8.00 price objective for the company in a research report on Wednesday. Zacks Investment Research raised shares of SRC Energy from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Saturday. BMO Capital Markets set a $10.00 price objective on shares of SRC Energy and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Finally, Robert W. Baird reduced their price objective on shares of SRC Energy from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. SRC Energy has a consensus rating of “Buy” and a consensus target price of $12.08.

The company has a market capitalization of $2,240.00, a P/E ratio of 19.35 and a beta of 1.57.

SRC Energy (NYSEAMERICAN:SRCI) last released its earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. The firm had revenue of $103.59 million for the quarter, compared to analysts’ expectations of $99.64 million. SRC Energy had a net margin of 42.33% and a return on equity of 19.16%.

Hedge funds have recently made changes to their positions in the stock. Carnick & Kubik Group LLC purchased a new stake in shares of SRC Energy during the 3rd quarter valued at approximately $106,000. Cubist Systematic Strategies LLC purchased a new stake in shares of SRC Energy during the 3rd quarter valued at approximately $109,000. Atria Investments LLC purchased a new stake in shares of SRC Energy during the 4th quarter valued at approximately $135,000. Miller Howard Investments Inc. NY purchased a new stake in shares of SRC Energy during the 3rd quarter valued at approximately $168,000. Finally, Private Advisor Group LLC purchased a new stake in shares of SRC Energy during the 3rd quarter valued at approximately $163,000.

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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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