Bank of New York Mellon Corp Cuts Stake in SRC Energy Inc (SRCI)
Bank of New York Mellon Corp lowered its stake in SRC Energy Inc (NYSEAMERICAN:SRCI) by 0.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,092,235 shares of the oil and natural gas company’s stock after selling 21,263 shares during the quarter. Bank of New York Mellon Corp’s holdings in SRC Energy were worth $34,077,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of SRCI. Quantitative Systematic Strategies LLC bought a new position in SRC Energy in the 1st quarter worth about $107,000. Private Advisor Group LLC purchased a new stake in shares of SRC Energy in the 1st quarter valued at about $131,000. Zeke Capital Advisors LLC purchased a new stake in shares of SRC Energy in the 1st quarter valued at about $150,000. Natixis purchased a new stake in shares of SRC Energy in the 1st quarter valued at about $170,000. Finally, Financial Gravity Wealth Inc. purchased a new stake in shares of SRC Energy in the 1st quarter valued at about $171,000.
SRCI has been the topic of a number of research reports. KeyCorp set a $15.00 price objective on SRC Energy and gave the company a “buy” rating in a report on Thursday, May 24th. KLR Group raised SRC Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Friday, June 8th. Jefferies Financial Group set a $15.00 price objective on SRC Energy and gave the company a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research upgraded SRC Energy from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, July 13th. Finally, Seaport Global Securities restated a “neutral” rating on shares of SRC Energy in a research report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.78.
SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings results on Wednesday, August 1st. The oil and natural gas company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. SRC Energy had a return on equity of 18.08% and a net margin of 36.53%. The firm had revenue of $147.09 million during the quarter, compared to analysts’ expectations of $144.87 million.
In other news, CFO James P. Henderson acquired 10,000 shares of SRC Energy stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average price of $9.26 per share, for a total transaction of $92,600.00. Following the completion of the transaction, the chief financial officer now owns 252,412 shares in the company, valued at $2,337,335.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lynn A. Peterson acquired 20,000 shares of SRC Energy stock in a transaction that occurred on Tuesday, August 14th. The shares were purchased at an average price of $9.26 per share, with a total value of $185,200.00. Following the transaction, the chief executive officer now owns 626,591 shares of the company’s stock, valued at approximately $5,802,232.66. The disclosure for this purchase can be found here.
SRC Energy Profile
SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.
See Also: Stop Order
Want to see what other hedge funds are holding SRCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SRC Energy Inc (NYSEAMERICAN:SRCI).
Receive News & Ratings for SRC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SRC Energy and related companies with MarketBeat.com's FREE daily email newsletter.