SRC Energy Inc to Post Q1 2019 Earnings of $0.27 Per Share, KeyCorp Forecasts (SRCI)

SRC Energy Inc (NYSEAMERICAN:SRCI) – Stock analysts at KeyCorp issued their Q1 2019 EPS estimates for shares of SRC Energy in a note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum expects that the oil and natural gas company will earn $0.27 per share for the quarter. KeyCorp currently has a “Buy” rating and a $10.00 target price on the stock. KeyCorp also issued estimates for SRC Energy’s Q2 2019 earnings at $0.26 EPS, Q3 2019 earnings at $0.28 EPS and FY2019 earnings at $1.12 EPS.

Other equities analysts have also recently issued research reports about the company. Credit Suisse Group assumed coverage on SRC Energy in a research report on Monday. They set an “underperform” rating and a $8.00 price objective for the company. BMO Capital Markets set a $10.00 price objective on SRC Energy and gave the stock a “hold” rating in a research report on Tuesday, November 14th. BidaskClub cut SRC Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Imperial Capital reissued an “outperform” rating and set a $13.00 price objective (up previously from $11.00) on shares of SRC Energy in a research report on Monday, November 13th. Finally, Robert W. Baird cut their price objective on SRC Energy from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. SRC Energy presently has a consensus rating of “Buy” and a consensus target price of $11.78.

Shares of SRC Energy (SRCI) traded down $0.08 during trading hours on Thursday, hitting $8.16. The company’s stock had a trading volume of 3,314,586 shares, compared to its average volume of 2,981,647. SRC Energy has a 12 month low of $6.19 and a 12 month high of $10.22.

Institutional investors and hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System bought a new stake in shares of SRC Energy in the 1st quarter valued at approximately $847,000. Morgan Stanley bought a new stake in shares of SRC Energy in the 1st quarter valued at approximately $3,707,000. Aperio Group LLC grew its stake in shares of SRC Energy by 24.7% in the 2nd quarter. Aperio Group LLC now owns 64,744 shares of the oil and natural gas company’s stock valued at $436,000 after purchasing an additional 12,815 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of SRC Energy by 3.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 47,380 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 1,670 shares during the period. Finally, Great West Life Assurance Co. Can grew its stake in shares of SRC Energy by 4.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 299,623 shares of the oil and natural gas company’s stock valued at $2,014,000 after purchasing an additional 14,000 shares during the period.

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About SRC Energy

SRC Energy Inc, formerly Synergy Resources Corporation, is an independent oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.

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