SRC Energy (SRCI) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of SRC Energy (NYSEAMERICAN:SRCI) from an overweight rating to a neutral rating in a research report sent to investors on Friday morning, Marketbeat.com reports. The firm currently has $6.00 target price on the oil and natural gas company’s stock, down from their previous target price of $9.00.

A number of other equities analysts also recently commented on SRCI. Zacks Investment Research downgraded shares of SRC Energy from a buy rating to a hold rating in a research note on Saturday, November 3rd. KLR Group restated a buy rating and set a $15.00 price objective on shares of SRC Energy in a research note on Monday, August 20th. Robert W. Baird downgraded shares of SRC Energy from an outperform rating to a hold rating and set a $10.00 price objective for the company. in a research note on Tuesday, August 14th. Finally, Roth Capital upgraded shares of SRC Energy from a neutral rating to a buy rating and set a $12.00 price objective for the company in a research note on Thursday, October 18th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. SRC Energy currently has an average rating of Buy and an average price target of $12.33.

SRC Energy stock opened at $5.24 on Friday. SRC Energy has a one year low of $5.06 and a one year high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings data on Wednesday, October 31st. The oil and natural gas company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The business had revenue of $160.98 million for the quarter, compared to analyst estimates of $155.20 million.

In other news, EVP Nicholas Spence bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average cost of $7.57 per share, for a total transaction of $75,700.00. Following the purchase, the executive vice president now owns 145,492 shares of the company’s stock, valued at approximately $1,101,374.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of large investors have recently modified their holdings of the stock. Aperio Group LLC lifted its position in SRC Energy by 19.0% during the second quarter. Aperio Group LLC now owns 96,363 shares of the oil and natural gas company’s stock worth $1,062,000 after acquiring an additional 15,364 shares during the last quarter. Alps Advisors Inc. lifted its position in SRC Energy by 12.0% during the second quarter. Alps Advisors Inc. now owns 58,520 shares of the oil and natural gas company’s stock worth $499,000 after acquiring an additional 6,262 shares during the last quarter. Wells Fargo & Company MN lifted its position in SRC Energy by 18.9% during the second quarter. Wells Fargo & Company MN now owns 967,467 shares of the oil and natural gas company’s stock worth $10,662,000 after acquiring an additional 153,640 shares during the last quarter. First Trust Advisors LP acquired a new stake in SRC Energy during the second quarter worth approximately $5,365,000. Finally, Pitcairn Co. acquired a new stake in SRC Energy during the second quarter worth approximately $230,000.

SRC Energy Company Profile

SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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Analyst Recommendations for SRC Energy (NYSEAMERICAN:SRCI)

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