SRC Energy Inc (NYSEAMERICAN:SRCI) – Equities researchers at Jefferies Financial Group cut their Q3 2020 EPS estimates for SRC Energy in a research report issued on Monday, July 15th. Jefferies Financial Group analyst M. Lear now anticipates that the oil and natural gas company will post earnings per share of $0.16 for the quarter, down from their previous forecast of $0.19. Jefferies Financial Group also issued estimates for SRC Energy’s Q4 2020 earnings at $0.16 EPS and Q1 2021 earnings at $0.19 EPS.
A number of other equities analysts have also recently commented on the company. Robert W. Baird set a $10.00 target price on SRC Energy and gave the stock a “buy” rating in a report on Friday, May 17th. Zacks Investment Research cut Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Pivotal Research began coverage on SRC Energy in a report on Wednesday, May 29th. They issued a “buy” rating and a $37.29 target price on the stock. Cowen set a $27.00 target price on Schnitzer Steel Industries and gave the stock a “hold” rating in a report on Tuesday, April 9th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Anaplan in a report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. SRC Energy currently has a consensus rating of “Buy” and a consensus target price of $11.87.
Shares of SRC Energy stock opened at $4.14 on Tuesday. SRC Energy has a one year low of $4.01 and a one year high of $12.03.
SRC Energy (NYSEAMERICAN:SRCI) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $178.20 million.
Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in 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 worth $16,417,000 after acquiring an additional 301,620 shares in the last quarter. LSV Asset Management grew its position in SRC Energy by 2.3% in the first quarter. LSV Asset Management now owns 9,078,842 shares of the oil and natural gas company’s stock worth $46,483,000 after acquiring an additional 200,400 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in SRC Energy by 380.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 80,456 shares of the oil and natural gas company’s stock worth $378,000 after acquiring an additional 63,714 shares in the last quarter. Sentinel Trust Co. LBA purchased a new position in SRC Energy in the fourth quarter worth about $1,434,000. Finally, Great West Life Assurance Co. Can grew its position in SRC Energy by 4.6% in the first 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 acquiring an additional 14,500 shares in 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.