SRC Energy Inc (NYSEAMERICAN:SRCI) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 26,115,611 shares, a growth of 1.3% from the January 15th total of 25,791,423 shares. Currently, 10.9% of the shares of the company are sold short. Based on an average trading volume of 3,638,722 shares, the days-to-cover ratio is currently 7.2 days.
SRCI has been the topic of several recent analyst reports. Robert W. Baird upgraded shares of SRC Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $12.00 in a report on Monday, October 15th. Roth Capital upgraded shares of SRC Energy from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, October 18th. JPMorgan Chase & Co. downgraded shares of SRC Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $6.00 in a report on Friday, December 7th. BMO Capital Markets dropped their target price on shares of SRC Energy to $7.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, TheStreet downgraded shares of SRC Energy from a “c-” rating to a “d+” rating in a report on Friday, December 14th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. SRC Energy presently has an average rating of “Buy” and a consensus price target of $10.94.
Shares of NYSEAMERICAN:SRCI traded up $0.02 on Monday, hitting $4.17. 4,980,256 shares of the company were exchanged, compared to its average volume of 3,833,425. SRC Energy has a one year low of $4.01 and a one year high of $13.32.
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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.
Further Reading: How can you know how many shares are floating?
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