Consolidated Investment Group LLC bought a new position in shares of SRC Energy Inc (NASDAQ:SRCI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 347,484 shares of the oil and natural gas company’s stock, valued at approximately $2,338,000. Consolidated Investment Group LLC owned approximately 0.17% of SRC Energy as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SRCI. Commerce Bank purchased a new position in shares of SRC Energy during the first quarter worth approximately $101,000. UBS Group AG bought a new stake in shares of SRC Energy during the first quarter worth $101,000. Piedmont Investment Advisors LLC bought a new stake in shares of SRC Energy during the first quarter worth $101,000. Flinton Capital Management LLC bought a new stake in shares of SRC Energy during the first quarter worth $105,000. Finally, World Asset Management Inc bought a new stake in shares of SRC Energy during the first quarter worth $106,000.
Shares of SRC Energy Inc (NASDAQ SRCI) traded up 0.13% during mid-day trading on Friday, reaching $7.67. The company had a trading volume of 3,042,300 shares. The firm has a market capitalization of $1.54 billion and a price-to-earnings ratio of 45.38. SRC Energy Inc has a one year low of $5.87 and a one year high of $10.38. The stock has a 50 day moving average of $7.68 and a 200-day moving average of $7.70.
SRC Energy (NASDAQ:SRCI) last announced its quarterly earnings data on Thursday, August 3rd. The oil and natural gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. SRC Energy had a net margin of 44.12% and a return on equity of 9.36%. The firm had revenue of $75.04 million for the quarter, compared to analyst estimates of $68.08 million. Equities analysts predict that SRC Energy Inc will post $0.59 EPS for the current year.
TRADEMARK VIOLATION WARNING: “Consolidated Investment Group LLC Buys New Position in SRC Energy Inc (SRCI)” was originally published by Rincon Hill News and is the property of of Rincon Hill News. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://rinconhillneighbors.org/2017/08/19/consolidated-investment-group-llc-acquires-shares-of-347484-src-energy-inc-srci-updated.html.
SRCI has been the subject of several research analyst reports. Zacks Investment Research raised SRC Energy from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research report on Thursday, July 20th. Stifel Nicolaus reissued a “buy” rating and set a $10.00 price objective on shares of SRC Energy in a research report on Friday, July 14th. Scotiabank set a $10.00 price target on SRC Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Roth Capital set a $11.00 price target on SRC Energy and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, BMO Capital Markets set a $9.00 price target on SRC Energy and gave the company a “hold” rating in a report on Sunday, August 13th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. SRC Energy has a consensus rating of “Buy” and a consensus target price of $11.34.
In other news, COO Nicholas Spence acquired 8,000 shares of SRC Energy stock in a transaction on Thursday, June 8th. The stock was acquired at an average cost of $6.45 per share, with a total value of $51,600.00. Following the transaction, the chief operating officer now owns 108,222 shares of the company’s stock, valued at approximately $698,031.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
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.
Receive News & Ratings for SRC Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SRC Energy Inc and related companies with our FREE daily email newsletter.