Q1 2019 EPS Estimates for SRC Energy Inc (NYSEAMERICAN:SRCI) Boosted by Capital One Financial

SRC Energy Inc (NYSEAMERICAN:SRCI) – Investment analysts at Capital One Financial increased their Q1 2019 earnings per share (EPS) estimates for shares of SRC Energy in a note issued to investors on Thursday, April 18th, according to Zacks Investment Research. Capital One Financial analyst P. Johnston now expects that the oil and natural gas company will earn $0.21 per share for the quarter, up from their prior forecast of $0.18. Capital One Financial also issued estimates for SRC Energy’s Q2 2019 earnings at $0.23 EPS.

SRC Energy (NYSEAMERICAN:SRCI) last posted its earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $189.46 million during the quarter, compared to analysts’ expectations of $178.20 million.

A number of other analysts also recently issued reports on SRCI. Zacks Investment Research upgraded SRC Energy from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Saturday, April 27th. Ifs Securities upgraded SRC Energy from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, April 23rd. TheStreet upgraded SRC Energy from a “d+” rating to a “c” rating in a research report on Wednesday, March 6th. Robert W. Baird set a $5.00 target price on SRC Energy and gave the stock a “buy” rating in a research report on Friday, February 8th. Finally, Raymond James set a $8.00 target price on SRC Energy and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. SRC Energy currently has an average rating of “Buy” and an average price target of $10.45.

SRCI traded down $0.08 during trading on Friday, reaching $5.71. The company had a trading volume of 3,037,017 shares, compared to its average volume of 3,847,207. SRC Energy has a 52 week low of $4.01 and a 52 week high of $13.32.

Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in SRC Energy by 7.5% during 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 acquiring an additional 39,802 shares during the period. Bank of New York Mellon Corp grew its position in shares of SRC Energy by 9.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,493,075 shares of the oil and natural gas company’s stock valued at $16,417,000 after purchasing an additional 301,620 shares during the last quarter. Morgan Stanley grew its position in shares of SRC Energy by 3.0% in the third quarter. Morgan Stanley now owns 1,333,079 shares of the oil and natural gas company’s stock valued at $11,851,000 after purchasing an additional 39,210 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of SRC Energy in the third quarter valued at about $5,177,000. Finally, Peregrine Capital Management LLC grew its position in shares of SRC Energy by 126.8% in the fourth quarter. Peregrine Capital Management LLC now owns 1,117,791 shares of the oil and natural gas company’s stock valued at $5,254,000 after purchasing an additional 625,012 shares during the last quarter.

About SRC Energy

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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Earnings History and Estimates for SRC Energy (NYSEAMERICAN:SRCI)

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