PNC Financial Services Group Inc. Lowers Position in SRC Energy Inc (SRCI)

PNC Financial Services Group Inc. decreased its stake in shares of SRC Energy Inc (NYSEAMERICAN:SRCI) by 91.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,667 shares of the oil and natural gas company’s stock after selling 163,063 shares during the period. PNC Financial Services Group Inc.’s holdings in SRC Energy were worth $73,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Citizens Bank & Trust Co. bought a new position in shares of SRC Energy during the 4th quarter valued at about $61,000. Virtu Financial LLC bought a new position in shares of SRC Energy during the 4th quarter valued at about $69,000. Oregon Public Employees Retirement Fund bought a new position in shares of SRC Energy during the 4th quarter valued at about $92,000. Allen Capital Group LLC increased its position in shares of SRC Energy by 17.5% during the 4th quarter. Allen Capital Group LLC now owns 18,970 shares of the oil and natural gas company’s stock valued at $96,000 after purchasing an additional 2,825 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of SRC Energy by 11,051.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 26,652 shares of the oil and natural gas company’s stock valued at $125,000 after purchasing an additional 26,413 shares during the last quarter.

Shares of SRCI traded down $0.04 on Friday, reaching $6.44. The stock had a trading volume of 3,081,791 shares, compared to its average volume of 3,843,152. SRC Energy Inc has a 12-month low of $4.01 and a 12-month high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last released its earnings results on Wednesday, February 20th. The oil and natural gas company reported $0.30 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.30. The firm had revenue of $190.34 million during the quarter, compared to analysts’ expectations of $186.18 million.

SRCI has been the topic of several recent research reports. Imperial Capital reiterated an “outperform” rating and set a $14.00 price objective (up from $11.00) on shares of SRC Energy in a research report on Friday, February 8th. Ifs Securities upgraded SRC Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, February 7th. TheStreet upgraded SRC Energy from a “d+” rating to a “c” rating in a report on Wednesday, March 6th. 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, Robert W. Baird set a $5.00 price objective on SRC Energy and gave the stock a “buy” rating in a report on Friday, February 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $10.61.

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SRC Energy 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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Institutional Ownership by Quarter for SRC Energy (NYSEAMERICAN:SRCI)

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