Imperial Capital Equities Analysts Decrease Earnings Estimates for SRC Energy Inc (SRCI)

SRC Energy Inc (NYSEAMERICAN:SRCI) – Equities researchers at Imperial Capital lowered their FY2019 earnings estimates for shares of SRC Energy in a report issued on Thursday, February 7th. Imperial Capital analyst I. Haas now anticipates that the oil and natural gas company will post earnings of $0.84 per share for the year, down from their previous forecast of $0.91. Imperial Capital has a “Outperform” rating and a $14.00 price objective on the stock. Imperial Capital also issued estimates for SRC Energy’s FY2020 earnings at $1.25 EPS.

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A number of other equities analysts have also recently weighed in on SRCI. Robert W. Baird set a $5.00 price target on shares of SRC Energy and gave the stock a “buy” rating in a research note on Friday, February 8th. Ifs Securities raised shares of SRC Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 7th. Roth Capital raised shares of SRC Energy from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Thursday, October 18th. Zacks Investment Research raised shares of SRC Energy from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research note on Thursday, October 25th. Finally, Raymond James set a $8.00 price target on shares of SRC Energy and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. SRC Energy has a consensus rating of “Buy” and an average price target of $10.94.

Shares of SRCI opened at $4.06 on Monday. SRC Energy has a 1 year low of $4.01 and a 1 year high of $13.32.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LSV Asset Management lifted its holdings in SRC Energy by 49.3% in the 4th quarter. LSV Asset Management now owns 8,878,442 shares of the oil and natural gas company’s stock valued at $41,728,000 after purchasing an additional 2,932,485 shares in the last quarter. BlackRock Inc. lifted its holdings in SRC Energy by 3.9% in the 3rd quarter. BlackRock Inc. now owns 34,987,760 shares of the oil and natural gas company’s stock valued at $311,042,000 after purchasing an additional 1,303,098 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in SRC Energy by 9.2% in the 3rd quarter. Victory Capital Management Inc. now owns 11,330,314 shares of the oil and natural gas company’s stock valued at $100,726,000 after purchasing an additional 958,827 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in SRC Energy by 6.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,821,127 shares of the oil and natural gas company’s stock valued at $131,758,000 after purchasing an additional 899,281 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in SRC Energy by 783.3% in the 4th quarter. Citigroup Inc. now owns 737,703 shares of the oil and natural gas company’s stock valued at $3,467,000 after purchasing an additional 654,187 shares in the last quarter.

About SRC Energy

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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