Lucas Capital Management Invests $135,000 in SRC Energy Inc (SRCI)
Lucas Capital Management bought a new position in SRC Energy Inc (NASDAQ:SRCI) during the second quarter, Holdings Channel reports. The institutional investor bought 20,000 shares of the oil and natural gas company’s stock, valued at approximately $135,000.
Several other large investors have also recently bought and sold shares of SRCI. UBS Group AG purchased a new stake in SRC Energy during the first quarter worth approximately $101,000. Commerce Bank purchased a new stake in SRC Energy during the first quarter worth approximately $101,000. Piedmont Investment Advisors LLC purchased a new stake in SRC Energy during the first quarter worth approximately $101,000. Flinton Capital Management LLC purchased a new stake in SRC Energy during the first quarter worth approximately $105,000. Finally, World Asset Management Inc purchased a new stake in SRC Energy during the first quarter worth approximately $106,000.
Shares of SRC Energy Inc (NASDAQ:SRCI) opened at 8.47 on Monday. SRC Energy Inc has a 52 week low of $5.87 and a 52 week high of $10.38. The firm’s 50-day moving average price is $7.12 and its 200 day moving average price is $7.74. The company’s market capitalization is $1.70 billion.
SRC Energy (NASDAQ:SRCI) last issued its quarterly earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. The firm had revenue of $75.04 million for the quarter, compared to analyst estimates of $68.08 million. SRC Energy had a net margin of 44.12% and a return on equity of 9.36%. Equities analysts predict that SRC Energy Inc will post $0.54 EPS for the current year.
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A number of equities research analysts recently commented on the company. Scotiabank set a $10.00 target price on SRC Energy and gave the stock a “buy” rating in a research report on Saturday, July 1st. Roth Capital set a $11.00 target price on SRC Energy and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets reiterated a “hold” rating and issued a $9.00 target price on shares of SRC Energy in a research report on Wednesday, June 21st. Zacks Investment Research downgraded SRC Energy from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $10.00 target price on shares of SRC Energy in a research report on Friday, July 14th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. SRC Energy currently has an average rating of “Buy” and an average target price of $11.63.
In other SRC Energy news, COO Nicholas Spence bought 8,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were acquired at an average cost of $6.45 per share, with a total value of $51,600.00. Following the purchase, the chief operating officer now directly owns 108,222 shares of the company’s stock, valued at approximately $698,031.90. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
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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