KeyCorp Weighs in on SRC Energy Inc’s Q1 2019 Earnings (SRCI)
SRC Energy Inc (NYSEAMERICAN:SRCI) – Research analysts at KeyCorp issued their Q1 2019 EPS estimates for shares of SRC Energy in a report released on Tuesday. KeyCorp analyst D. Deckelbaum anticipates that the oil and natural gas company will post earnings of $0.27 per share for the quarter. KeyCorp currently has a “Buy” rating and a $10.00 target price on the stock. KeyCorp also issued estimates for SRC Energy’s Q2 2019 earnings at $0.26 EPS, Q3 2019 earnings at $0.28 EPS and FY2019 earnings at $1.12 EPS.
Other equities analysts have also recently issued reports about the stock. Roth Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of SRC Energy in a research note on Monday, October 2nd. BidaskClub raised shares of SRC Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Imperial Capital reissued an “outperform” rating and set a $13.00 target price (up previously from $11.00) on shares of SRC Energy in a report on Monday, November 13th. BMO Capital Markets set a $10.00 price target on SRC Energy and gave the company a “hold” rating in a research note on Tuesday, October 10th. Finally, Stephens reaffirmed an “overweight” rating and issued a $12.00 price target (up previously from $11.00) on shares of SRC Energy in a research note on Saturday, September 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. SRC Energy currently has a consensus rating of “Buy” and an average target price of $11.78.
Shares of SRC Energy (SRCI) traded down $0.17 during trading hours on Thursday, reaching $7.99. 9,221,488 shares of the company’s stock were exchanged, compared to its average volume of 3,007,431. SRC Energy has a 12-month low of $6.19 and a 12-month high of $10.22.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of SRC Energy by 1.6% in the second quarter. BlackRock Inc. now owns 24,464,771 shares of the oil and natural gas company’s stock worth $164,648,000 after acquiring an additional 395,846 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of SRC Energy by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 11,864,084 shares of the oil and natural gas company’s stock worth $113,776,000 after acquiring an additional 129,611 shares during the period. Vanguard Group Inc. boosted its stake in shares of SRC Energy by 5.4% in the second quarter. Vanguard Group Inc. now owns 10,901,745 shares of the oil and natural gas company’s stock worth $73,369,000 after acquiring an additional 558,923 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of SRC Energy by 18.8% in the third quarter. Dimensional Fund Advisors LP now owns 10,659,732 shares of the oil and natural gas company’s stock worth $103,079,000 after buying an additional 1,690,467 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of SRC Energy by 1.9% in the third quarter. Victory Capital Management Inc. now owns 10,546,990 shares of the oil and natural gas company’s stock worth $101,989,000 after buying an additional 197,540 shares in the last quarter.
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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