$0.07 Earnings Per Share Expected for SRC Energy Inc (SRCI) This Quarter

Equities analysts expect SRC Energy Inc (NASDAQ:SRCI) to post earnings of $0.07 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for SRC Energy’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.13. SRC Energy posted earnings of ($0.06) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 216.7%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that SRC Energy will report full year earnings of $0.40 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.63. For the next year, analysts expect that the company will post earnings of $0.71 per share, with EPS estimates ranging from $0.48 to $1.20. Zacks’ earnings per share averages are an average based on a survey of research firms that follow SRC Energy.

SRC Energy (NASDAQ:SRCI) last announced its earnings results on Thursday, May 4th. The oil and natural gas company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The business had revenue of $45.06 million during the quarter, compared to analysts’ expectations of $43.60 million.

A number of analysts have commented on the stock. Wells Fargo & Co downgraded shares of SRC Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. Capital One Financial Corp. assumed coverage on shares of SRC Energy in a research report on Tuesday, April 25th. They set an “overweight” rating and a $13.00 price target on the stock. Zacks Investment Research downgraded shares of SRC Energy from a “buy” rating to a “hold” rating in a research report on Saturday, March 11th. Simmons restated an “overweight” rating and set a $11.00 price target on shares of SRC Energy in a research report on Friday, April 14th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $11.00 price target on shares of SRC Energy in a research report on Wednesday, April 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $15.38.

In other SRC Energy news, Director Paul Korus bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The shares were acquired at an average cost of $8.35 per share, for a total transaction of $41,750.00. Following the acquisition, the director now directly owns 16,910 shares of the company’s stock, valued at $141,198.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Several hedge funds have recently added to or reduced their stakes in the company. Commerce Bank acquired a new stake in SRC Energy during the first quarter worth approximately $101,000. Flinton Capital Management LLC acquired a new stake in SRC Energy during the first quarter worth approximately $105,000. World Asset Management Inc acquired a new stake in SRC Energy during the first quarter worth approximately $106,000. Ameritas Investment Partners Inc. acquired a new stake in SRC Energy during the first quarter worth approximately $136,000. Finally, Emerald Advisers Inc. PA acquired a new stake in SRC Energy during the first quarter worth approximately $168,000.

Shares of SRC Energy (NASDAQ:SRCI) traded up 2.90% during midday trading on Friday, hitting $7.44. 726,451 shares of the stock were exchanged. The company’s market cap is $1.49 billion. The firm has a 50-day moving average price of $8.00 and a 200-day moving average price of $8.36. SRC Energy has a 12-month low of $5.53 and a 12-month high of $10.38.

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SRC Energy Company Profile

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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