SRC Energy Inc (NYSEAMERICAN:SRCI) – Analysts at Piper Jaffray Companies reduced their FY2018 earnings estimates for shares of SRC Energy in a research report issued to clients and investors on Thursday, November 15th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and natural gas company will post earnings of $1.05 per share for the year, down from their previous estimate of $1.16.

SRC Energy (NYSEAMERICAN:SRCI) last issued its quarterly earnings data on Wednesday, October 31st. The oil and natural gas company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $160.98 million during the quarter, compared to analysts’ expectations of $155.20 million.

A number of other brokerages have also issued reports on SRCI. Zacks Investment Research lowered shares of SRC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Seaport Global Securities reiterated a “neutral” rating on shares of SRC Energy in a research note on Tuesday, July 24th. Jefferies Financial Group set a $15.00 price target on shares of SRC Energy and gave the stock a “buy” rating in a research note on Friday, August 3rd. KLR Group reiterated a “buy” rating and set a $15.00 price target on shares of SRC Energy in a research note on Monday, August 20th. Finally, Robert W. Baird upgraded shares of SRC Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $10.00 to $12.00 in a research note on Monday, October 15th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $12.85.

Shares of SRCI opened at $6.54 on Monday. SRC Energy has a 12-month low of $6.33 and a 12-month high of $13.32.

Several hedge funds have recently added to or reduced their stakes in SRCI. Dana Investment Advisors Inc. acquired a new position in SRC Energy in the second quarter valued at approximately $2,020,000. SG Americas Securities LLC boosted its holdings in SRC Energy by 25.1% in the second quarter. SG Americas Securities LLC now owns 162,375 shares of the oil and natural gas company’s stock valued at $1,789,000 after purchasing an additional 32,576 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in SRC Energy by 18.9% in the second quarter. Wells Fargo & Company MN now owns 967,467 shares of the oil and natural gas company’s stock valued at $10,662,000 after purchasing an additional 153,640 shares in the last quarter. Dupont Capital Management Corp boosted its holdings in SRC Energy by 249.1% in the second quarter. Dupont Capital Management Corp now owns 216,534 shares of the oil and natural gas company’s stock valued at $2,386,000 after purchasing an additional 154,511 shares in the last quarter. Finally, Gradient Investments LLC boosted its holdings in SRC Energy by 186.3% in the third quarter. Gradient Investments LLC now owns 161,283 shares of the oil and natural gas company’s stock valued at $1,434,000 after purchasing an additional 104,944 shares in the last quarter.

In other news, EVP Nicholas Spence bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $7.57 per share, for a total transaction of $75,700.00. Following the completion of the purchase, the executive vice president now owns 145,492 shares of the company’s stock, valued at $1,101,374.44. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

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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Earnings History and Estimates for SRC Energy (NYSEAMERICAN:SRCI)

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