Consolidated Investment Group LLC Invests $2.34 Million in SRC Energy Inc (NASDAQ:SRCI)
Consolidated Investment Group LLC bought a new stake in SRC Energy Inc (NASDAQ:SRCI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 347,484 shares of the oil and natural gas company’s stock, valued at approximately $2,338,000. Consolidated Investment Group LLC owned 0.17% of SRC Energy at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in SRC Energy during the first quarter valued at about $690,000. Perkins Capital Management Inc. acquired a new position in SRC Energy during the first quarter valued at about $338,000. Nisa Investment Advisors LLC acquired a new position in SRC Energy during the first quarter valued at about $318,000. State of Alaska Department of Revenue acquired a new position in SRC Energy during the first quarter valued at about $186,000. Finally, Nationwide Fund Advisors acquired a new position in SRC Energy during the first quarter valued at about $1,096,000.
Shares of SRC Energy Inc (NASDAQ:SRCI) opened at 8.37 on Wednesday. SRC Energy Inc has a 52 week low of $5.87 and a 52 week high of $10.38. The stock’s market cap is $1.68 billion. The stock’s 50 day moving average price is $7.24 and its 200 day moving average price is $7.75.
SRC Energy (NASDAQ:SRCI) last posted its quarterly earnings results on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 research analysts anticipate that SRC Energy Inc will post $0.54 EPS for the current fiscal year.
Several equities analysts have issued reports on SRCI shares. Piper Jaffray Companies reiterated an “overweight” rating and set a $11.00 target price on shares of SRC Energy in a research report on Wednesday, April 12th. Simmons reiterated an “overweight” rating and set a $11.00 target price on shares of SRC Energy in a research report on Friday, April 14th. Capital One Financial Corporation started coverage on SRC Energy in a research report on Tuesday, April 25th. They set an “overweight” rating and a $13.00 target price on the stock. Wells Fargo & Company cut SRC Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. Finally, Credit Suisse Group reissued an “outperform” rating and set a $10.00 price target on shares of SRC Energy in a research note on Friday, June 2nd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.63.
In other SRC Energy news, COO Nicholas Spence purchased 8,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were purchased at an average price of $6.45 per share, for a total transaction of $51,600.00. Following the completion of the transaction, the chief operating officer now owns 108,222 shares in the company, valued at approximately $698,031.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
About SRC Energy
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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