SunTrust Banks Analysts Reduce Earnings Estimates for SRC Energy Inc (NYSEAMERICAN:SRCI)

SRC Energy Inc (NYSEAMERICAN:SRCI) – Investment analysts at SunTrust Banks decreased their Q3 2020 earnings per share estimates for SRC Energy in a research report issued on Monday, July 8th. SunTrust Banks analyst W. Fitzpatrick now expects that the oil and natural gas company will post earnings per share of $0.20 for the quarter, down from their prior estimate of $0.25. SunTrust Banks also issued estimates for SRC Energy’s Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.80 EPS.

SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings data on Wednesday, May 1st. The oil and natural gas company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. The company had revenue of $189.46 million for the quarter, compared to the consensus estimate of $178.20 million.

Several other research firms also recently weighed in on SRCI. Zacks Investment Research downgraded Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Pivotal Research initiated coverage on SRC Energy in a report on Wednesday, May 29th. They set a “buy” rating and a $37.29 price objective on the stock. KeyCorp reissued a “hold” rating on shares of Anaplan in a report on Tuesday, May 28th. Cowen set a $27.00 price objective on Schnitzer Steel Industries and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Ifs Securities raised SRC Energy from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $11.87.

Shares of SRCI opened at $4.31 on Thursday. SRC Energy has a 52-week low of $4.01 and a 52-week high of $12.03.

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in SRC Energy by 9.5% in the 4th 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 buying an additional 301,620 shares in the last quarter. LSV Asset Management increased its position in SRC Energy by 2.3% in the 1st quarter. LSV Asset Management now owns 9,078,842 shares of the oil and natural gas company’s stock valued at $46,483,000 after buying an additional 200,400 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in SRC Energy by 380.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 80,456 shares of the oil and natural gas company’s stock worth $378,000 after purchasing an additional 63,714 shares in the last quarter. Sentinel Trust Co. LBA bought a new stake in SRC Energy during the 4th quarter worth approximately $1,434,000. Finally, Great West Life Assurance Co. Can increased its holdings in SRC Energy by 4.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 331,602 shares of the oil and natural gas company’s stock worth $1,690,000 after purchasing an additional 14,500 shares in 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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Earnings History and Estimates for SRC Energy (NYSEAMERICAN:SRCI)

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