SRC Energy (NYSEAMERICAN:SRCI) Shares Gap Down to $4.08

SRC Energy Inc (NYSEAMERICAN:SRCI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.99, but opened at $4.08. SRC Energy shares last traded at $4.02, with a volume of 5,800,816 shares traded.

A number of brokerages have commented on SRCI. Zacks Investment Research downgraded shares of SRC Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Wells Fargo & Co began coverage on shares of SRC Energy in a research report on Monday, May 20th. They set an “outperform” rating and a $8.00 price objective for the company. Ifs Securities upgraded shares of SRC Energy from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, April 23rd. Pivotal Research began coverage on shares of SRC Energy in a research report on Wednesday, May 29th. They set a “buy” rating and a $37.29 price objective for the company. Finally, Cowen began coverage on shares of SRC Energy in a research report on Tuesday, April 9th. They set an “outperform” rating and a $8.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $11.87.

SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.22 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.22. The company had revenue of $162.60 million for the quarter, compared to analyst estimates of $179.12 million.

Hedge funds and other institutional investors have recently modified their holdings of the stock. LSV Asset Management boosted its stake in shares of SRC Energy by 2.3% during the 1st quarter. LSV Asset Management now owns 9,078,842 shares of the oil and natural gas company’s stock worth $46,483,000 after purchasing an additional 200,400 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of 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 during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of 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 during the last quarter. Nordea Investment Management AB boosted its stake in shares of SRC Energy by 11.2% during the 4th quarter. Nordea Investment Management AB now owns 672,887 shares of the oil and natural gas company’s stock worth $3,163,000 after purchasing an additional 67,714 shares during the last quarter. Finally, Integrated Investment Consultants LLC acquired a new stake in shares of SRC Energy during the 1st quarter worth about $1,136,000.

About SRC Energy (NYSEAMERICAN:SRCI)

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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