SRC Energy Inc (NYSEAMERICAN:SRCI) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 26,009,830 shares, a drop of 2.6% from the August 15th total of 26,699,009 shares. Based on an average daily volume of 2,705,636 shares, the days-to-cover ratio is currently 9.6 days. Approximately 10.8% of the company’s stock are sold short.

A number of equities research analysts have recently weighed in on the stock. Seaport Global Securities restated a “neutral” rating on shares of SRC Energy in a report on Tuesday, July 24th. KLR Group raised shares of SRC Energy from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, June 8th. KeyCorp set a $15.00 target price on shares of SRC Energy and gave the company a “buy” rating in a research report on Thursday, May 24th. Robert W. Baird downgraded shares of SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 target price on the stock. in a research report on Tuesday, August 14th. Finally, Zacks Investment Research downgraded shares of SRC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $12.78.

NYSEAMERICAN SRCI opened at $8.53 on Thursday. SRC Energy has a 12 month low of $7.76 and a 12 month high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last posted its earnings results on Wednesday, August 1st. The oil and natural gas company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The firm had revenue of $147.09 million for the quarter, compared to the consensus estimate of $144.87 million. SRC Energy had a net margin of 36.53% and a return on equity of 18.08%.

In other news, CEO Lynn A. Peterson acquired 20,000 shares of SRC Energy stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average cost of $9.26 per share, for a total transaction of $185,200.00. Following the acquisition, the chief executive officer now owns 626,591 shares of the company’s stock, valued at $5,802,232.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James P. Henderson acquired 10,000 shares of SRC Energy stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average price of $9.26 per share, for a total transaction of $92,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 252,412 shares in the company, valued at approximately $2,337,335.12. The disclosure for this purchase can be found here.

A number of institutional investors have recently modified their holdings of the business. Mason Street Advisors LLC grew its position in SRC Energy by 6.9% during the 1st quarter. Mason Street Advisors LLC now owns 67,075 shares of the oil and natural gas company’s stock worth $633,000 after purchasing an additional 4,305 shares during the last quarter. Isthmus Partners LLC grew its position in SRC Energy by 5.6% during the 1st quarter. Isthmus Partners LLC now owns 86,465 shares of the oil and natural gas company’s stock worth $815,000 after purchasing an additional 4,566 shares during the last quarter. Piedmont Investment Advisors LLC grew its position in SRC Energy by 9.1% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 56,404 shares of the oil and natural gas company’s stock worth $622,000 after purchasing an additional 4,726 shares during the last quarter. Nisa Investment Advisors LLC grew its position in SRC Energy by 12.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 43,825 shares of the oil and natural gas company’s stock worth $483,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. grew its position in SRC Energy by 13.9% during the 2nd quarter. Lowe Brockenbrough & Co. Inc. now owns 41,000 shares of the oil and natural gas company’s stock worth $452,000 after purchasing an additional 5,000 shares during the last quarter.

SRC Energy Company 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.

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