BlackRock Inc. Raises Position in SRC Energy Inc (NYSEAMERICAN:SRCI)

BlackRock Inc. boosted its position in SRC Energy Inc (NYSEAMERICAN:SRCI) by 6.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,684,662 shares of the oil and natural gas company’s stock after buying an additional 1,991,238 shares during the period. BlackRock Inc. owned approximately 13.89% of SRC Energy worth $371,205,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SRCI. Wells Fargo & Company MN lifted its stake in SRC Energy by 4.1% in the first quarter. Wells Fargo & Company MN now owns 813,827 shares of the oil and natural gas company’s stock valued at $7,675,000 after purchasing an additional 32,345 shares during the last quarter. Rhumbline Advisers lifted its stake in SRC Energy by 5.6% in the first quarter. Rhumbline Advisers now owns 572,831 shares of the oil and natural gas company’s stock valued at $5,402,000 after purchasing an additional 30,155 shares during the last quarter. SG Americas Securities LLC lifted its stake in SRC Energy by 38.5% in the first quarter. SG Americas Securities LLC now owns 129,799 shares of the oil and natural gas company’s stock valued at $1,224,000 after purchasing an additional 36,097 shares during the last quarter. Prudential Financial Inc. lifted its stake in SRC Energy by 2.5% in the first quarter. Prudential Financial Inc. now owns 406,550 shares of the oil and natural gas company’s stock valued at $3,834,000 after purchasing an additional 9,880 shares during the last quarter. Finally, Swiss National Bank lifted its stake in SRC Energy by 3.2% in the first quarter. Swiss National Bank now owns 410,628 shares of the oil and natural gas company’s stock valued at $3,872,000 after purchasing an additional 12,900 shares during the last quarter.

In related news, CEO Lynn A. Peterson purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average cost of $9.26 per share, with a total value of $185,200.00. Following the completion of the purchase, the chief executive officer now directly owns 626,591 shares in the company, valued at $5,802,232.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James P. Henderson bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were acquired at an average cost of $9.26 per share, with a total value of $92,600.00. Following the purchase, the chief financial officer now directly owns 252,412 shares of the company’s stock, valued at approximately $2,337,335.12. The disclosure for this purchase can be found here.

A number of brokerages have issued reports on SRCI. Zacks Investment Research raised shares of SRC Energy from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, July 13th. KLR Group raised shares of SRC Energy from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday, June 8th. Jefferies Financial Group set a $15.00 price target on shares of SRC Energy and gave the stock a “buy” rating in a report on Friday, August 3rd. Robert W. Baird cut shares of SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 price target on the stock. in a report on Tuesday, August 14th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of SRC Energy in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $12.78.

NYSEAMERICAN SRCI traded up $0.17 during trading on Friday, hitting $8.82. 3,031,470 shares of the company’s stock traded hands, compared to its average volume of 2,938,294. SRC Energy Inc has a 12-month low of $7.76 and a 12-month high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings results on Wednesday, August 1st. The oil and natural gas company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $147.09 million during the quarter, compared to analyst estimates of $144.87 million. SRC Energy had a net margin of 36.53% and a return on equity of 18.08%.

SRC Energy Company Profile

SRC Energy Inc, an independent 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, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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Institutional Ownership by Quarter for SRC Energy (NYSEAMERICAN:SRCI)

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