Citigroup Trims SRC Energy (SRCI) Target Price to $9.50

SRC Energy (NYSEAMERICAN:SRCI) had its price objective lowered by Citigroup from $10.00 to $9.50 in a research note released on Tuesday morning. The firm currently has a neutral rating on the oil and natural gas company’s stock.

Several other analysts have also commented on the stock. Credit Suisse Group initiated coverage on shares of SRC Energy in a research report on Monday, December 11th. They issued an underperform rating and a $8.00 price target on the stock. SunTrust Banks reiterated a buy rating and issued a $12.00 price target on shares of SRC Energy in a research report on Friday, October 27th. Royal Bank of Canada reiterated a buy rating and issued a $13.00 price target on shares of SRC Energy in a research report on Tuesday, November 7th. Robert W. Baird lowered their price target on shares of SRC Energy from $12.00 to $11.00 and set an outperform rating on the stock in a research report on Monday, December 18th. Finally, Zacks Investment Research lowered shares of SRC Energy from a buy rating to a hold rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $12.13.

Shares of SRC Energy (NYSEAMERICAN SRCI) opened at $8.80 on Tuesday. The company has a market cap of $2,110.00, a P/E ratio of 18.33 and a beta of 1.57. SRC Energy has a 1 year low of $6.19 and a 1 year high of $10.44.

A number of large investors have recently bought and sold shares of SRCI. BlackRock Inc. raised its stake in SRC Energy by 22.4% during the fourth quarter. BlackRock Inc. now owns 31,331,828 shares of the oil and natural gas company’s stock worth $267,260,000 after purchasing an additional 5,742,695 shares during the period. Citadel Advisors LLC raised its stake in SRC Energy by 7,049.6% during the fourth quarter. Citadel Advisors LLC now owns 4,402,431 shares of the oil and natural gas company’s stock worth $37,552,000 after purchasing an additional 4,340,855 shares during the period. SailingStone Capital Partners LLC raised its stake in SRC Energy by 13.3% during the fourth quarter. SailingStone Capital Partners LLC now owns 29,460,468 shares of the oil and natural gas company’s stock worth $251,298,000 after purchasing an additional 3,448,982 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of SRC Energy by 56.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,387,223 shares of the oil and natural gas company’s stock valued at $71,543,000 after acquiring an additional 3,037,992 shares during the period. Finally, Millennium Management LLC raised its stake in shares of SRC Energy by 69.1% in the 4th quarter. Millennium Management LLC now owns 6,831,404 shares of the oil and natural gas company’s stock valued at $58,272,000 after acquiring an additional 2,791,202 shares during the period.

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SRC Energy Company Profile

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.

Analyst Recommendations for SRC Energy (NYSEAMERICAN:SRCI)

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