Lowe Brockenbrough & Co. Inc. raised its stake in shares of SRC Energy Inc (NASDAQ:SRCI) by 16.1% during the second quarter, Holdings Channel reports. The institutional investor owned 36,000 shares of the oil and natural gas company’s stock after buying an additional 5,000 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in SRC Energy were worth $242,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Texas Permanent School Fund raised its stake in shares of SRC Energy by 0.9% in the second quarter. Texas Permanent School Fund now owns 146,626 shares of the oil and natural gas company’s stock valued at $987,000 after buying an additional 1,336 shares in the last quarter. Stonebridge Capital Management Inc. raised its stake in shares of SRC Energy by 78.5% in the second quarter. Stonebridge Capital Management Inc. now owns 38,315 shares of the oil and natural gas company’s stock valued at $258,000 after buying an additional 16,855 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of SRC Energy by 4.9% in the second quarter. Great West Life Assurance Co. Can now owns 299,623 shares of the oil and natural gas company’s stock valued at $2,014,000 after buying an additional 14,000 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of SRC Energy by 3.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 47,380 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 1,670 shares in the last quarter. Finally, Gradient Investments LLC raised its stake in shares of SRC Energy by 33.8% in the second quarter. Gradient Investments LLC now owns 98,354 shares of the oil and natural gas company’s stock valued at $662,000 after buying an additional 24,862 shares in the last quarter.

Shares of SRC Energy Inc (NASDAQ SRCI) opened at 8.47 on Friday. SRC Energy Inc has a one year low of $5.87 and a one year high of $10.38. The stock’s market cap is $1.70 billion. The company has a 50-day moving average price of $7.12 and a 200 day moving average price of $7.74.

SRC Energy (NASDAQ:SRCI) last posted its earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. SRC Energy had a return on equity of 9.36% and a net margin of 44.12%. The company had revenue of $75.04 million for the quarter, compared to the consensus estimate of $68.08 million. Equities research analysts expect that SRC Energy Inc will post $0.53 earnings per share for the current year.

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Several equities research analysts have recently issued reports on the company. Roth Capital set a $11.00 target price on SRC Energy and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered SRC Energy from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Stifel Nicolaus reissued a “buy” rating and issued a $10.00 price objective on shares of SRC Energy in a report on Friday, July 14th. Scotiabank set a $10.00 price objective on SRC Energy and gave the stock a “buy” rating in a report on Saturday, July 1st. Finally, Seaport Global Securities lowered SRC Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $10.00 to $5.00 in a report on Wednesday, June 21st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. SRC Energy currently has an average rating of “Buy” and an average price target of $11.63.

In other news, COO Nicholas Spence bought 8,000 shares of the stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $6.45 per share, with a total value of $51,600.00. Following the completion of the acquisition, the chief operating officer now owns 108,222 shares in the company, valued at $698,031.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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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Institutional Ownership by Quarter for SRC Energy (NASDAQ:SRCI)

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