Research analysts at Cowen started coverage on shares of SRC Energy (NYSEAMERICAN:SRCI) in a report issued on Tuesday, The Fly reports. The brokerage set an “outperform” rating and a $8.00 price target on the oil and natural gas company’s stock. Cowen’s price objective indicates a potential upside of 30.51% from the company’s current price.
A number of other brokerages have also recently issued reports on SRCI. Robert W. Baird set a $8.00 price objective on SRC Energy and gave the stock a “buy” rating in a report on Thursday, April 4th. Zacks Investment Research upgraded SRC Energy from a “strong sell” rating to a “hold” rating in a report on Saturday, January 26th. BMO Capital Markets reduced their price objective on SRC Energy to $7.00 and set a “market perform” rating for the company in a report on Thursday, February 7th. Raymond James set a $8.00 price objective on SRC Energy and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Finally, TheStreet upgraded SRC Energy from a “d+” rating to a “c” rating in a report on Wednesday, March 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $10.61.
Shares of NYSEAMERICAN SRCI opened at $6.13 on Tuesday. SRC Energy has a twelve month low of $4.01 and a twelve month high of $13.32.
Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its stake in shares of SRC Energy by 7.5% in the third quarter. Legal & General Group Plc now owns 567,457 shares of the oil and natural gas company’s stock valued at $5,025,000 after buying an additional 39,802 shares during the period. Bank of New York Mellon Corp lifted its stake in SRC Energy by 9.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,493,075 shares of the oil and natural gas company’s stock worth $16,417,000 after purchasing an additional 301,620 shares during the last quarter. Morgan Stanley lifted its stake in SRC Energy by 3.0% during the third quarter. Morgan Stanley now owns 1,333,079 shares of the oil and natural gas company’s stock worth $11,851,000 after purchasing an additional 39,210 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in SRC Energy during the third quarter worth $5,177,000. Finally, Peregrine Capital Management LLC lifted its stake in SRC Energy by 126.8% during the fourth quarter. Peregrine Capital Management LLC now owns 1,117,791 shares of the oil and natural gas company’s stock worth $5,254,000 after purchasing an additional 625,012 shares during the last quarter.
SRC Energy Company Profile
SRC Energy Inc, an 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, 2018, it had net proved oil and natural gas reserves of 88 million barrels of oil and condensate, 771.9 billion cubic feet of natural gas, and 89.1 million barrels of natural gas liquids; and operated 985 net producing wells, as well as had 95,200 gross and 86,200 net acres under lease in the Wattenberg Field.
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