Robert W. Baird Lowers SRC Energy Inc. (SRCI) Price Target to $12.00
SRC Energy Inc. (NASDAQ:SRCI) had its price target cut by analysts at Robert W. Baird from $13.00 to $12.00 in a report issued on Friday. The firm presently has an “outperform” rating on the oil and natural gas company’s stock. Robert W. Baird’s price target would suggest a potential upside of 39.53% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Jefferies Group LLC started coverage on SRC Energy in a research note on Monday, October 9th. They set a “buy” rating and a $12.00 target price for the company. Stifel Nicolaus set a $10.00 target price on SRC Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Royal Bank Of Canada restated a “buy” rating and set a $13.00 target price on shares of SRC Energy in a research note on Thursday, October 5th. Roth Capital restated a “buy” rating and set a $11.00 target price on shares of SRC Energy in a research note on Monday, October 2nd. Finally, KeyCorp restated a “buy” rating and set a $10.00 target price on shares of SRC Energy in a research note on Tuesday, September 19th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. SRC Energy presently has a consensus rating of “Buy” and an average target price of $12.08.
Shares of SRC Energy (NASDAQ SRCI) traded down $0.03 during mid-day trading on Friday, hitting $8.60. The company had a trading volume of 7,360,346 shares, compared to its average volume of 4,030,000. SRC Energy has a fifty-two week low of $6.19 and a fifty-two week high of $10.38.
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A number of hedge funds and other institutional investors have recently bought and sold shares of SRCI. BlackRock Inc. acquired a new stake in SRC Energy in the first quarter valued at $203,143,000. Vanguard Group Inc. acquired a new stake in SRC Energy in the first quarter valued at $87,294,000. State Street Corp acquired a new stake in SRC Energy in the first quarter valued at $68,552,000. Ameriprise Financial Inc. increased its holdings in SRC Energy by 135.5% in the third quarter. Ameriprise Financial Inc. now owns 4,270,736 shares of the oil and natural gas company’s stock valued at $41,300,000 after purchasing an additional 2,457,602 shares during the period. Finally, Fine Capital Partners L.P. increased its holdings in SRC Energy by 21.5% in the second quarter. Fine Capital Partners L.P. now owns 10,234,909 shares of the oil and natural gas company’s stock valued at $68,881,000 after purchasing an additional 1,813,361 shares during the period.
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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