SRC Energy Inc (NYSEAMERICAN:SRCI) to Post Q4 2019 Earnings of $0.16 Per Share, KeyCorp Forecasts

SRC Energy Inc (NYSEAMERICAN:SRCI) – Research analysts at KeyCorp dropped their Q4 2019 EPS estimates for SRC Energy in a report issued on Wednesday, November 6th. KeyCorp analyst L. Mariani now forecasts that the oil and natural gas company will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.17. KeyCorp has a “Overweight” rating and a $5.00 price target on the stock. KeyCorp also issued estimates for SRC Energy’s Q3 2020 earnings at $0.15 EPS, Q4 2020 earnings at $0.18 EPS and FY2020 earnings at $0.65 EPS.

Other analysts have also issued research reports about the company. Capital One Financial raised SRC Energy from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 27th. Jefferies Financial Group set a $6.00 price objective on SRC Energy and gave the stock a “buy” rating in a report on Wednesday, August 21st. MKM Partners lowered SRC Energy from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 27th. Roth Capital lowered SRC Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. Finally, Zacks Investment Research raised SRC Energy from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $10.39.

Shares of NYSEAMERICAN:SRCI opened at $4.11 on Friday. SRC Energy has a 1-year low of $3.07 and a 1-year high of $7.65.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Eagle Asset Management Inc. raised its position in SRC Energy by 1.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 504,207 shares of the oil and natural gas company’s stock valued at $2,349,000 after purchasing an additional 7,275 shares during the last quarter. Synovus Financial Corp bought a new position in SRC Energy in the 3rd quarter valued at $175,000. ARP Americas LP bought a new position in SRC Energy in the 3rd quarter valued at $14,304,000. Russell Investments Group Ltd. raised its position in SRC Energy by 15.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 235,297 shares of the oil and natural gas company’s stock valued at $1,097,000 after purchasing an additional 31,461 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in SRC Energy by 79.8% in the 3rd quarter. California Public Employees Retirement System now owns 535,094 shares of the oil and natural gas company’s stock valued at $2,494,000 after purchasing an additional 237,437 shares during 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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