SRC Energy Inc (SRCI) EVP Nicholas Spence Acquires 10,000 Shares of Stock

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SRC Energy Inc (NYSEAMERICAN:SRCI) EVP Nicholas Spence bought 10,000 shares of SRC Energy stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average cost of $7.57 per share, for a total transaction of $75,700.00. Following the completion of the acquisition, the executive vice president now directly owns 145,492 shares in the company, valued at $1,101,374.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

SRC Energy stock traded down $0.63 during trading hours on Thursday, hitting $7.74. The company had a trading volume of 405,484 shares, compared to its average volume of 3,094,323. SRC Energy Inc has a one year low of $6.68 and a one year high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last released its quarterly earnings results on Wednesday, October 31st. The oil and natural gas company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The company had revenue of $160.98 million during the quarter, compared to the consensus estimate of $155.20 million.

Several research firms have issued reports on SRCI. Jefferies Financial Group set a $15.00 price objective on SRC Energy and gave the stock a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research upgraded shares of SRC Energy from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, July 13th. Seaport Global Securities reiterated a “neutral” rating on shares of SRC Energy in a research note on Tuesday, July 24th. Robert W. Baird downgraded shares of SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 target price for the company. in a research note on Tuesday, August 14th. Finally, KLR Group reiterated a “buy” rating and issued a $15.00 target price on shares of SRC Energy in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.63.

A number of institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management increased its holdings in shares of SRC Energy by 11.4% during the third quarter. LSV Asset Management now owns 5,945,957 shares of the oil and natural gas company’s stock worth $52,859,000 after purchasing an additional 607,600 shares during the period. Private Advisor Group LLC bought a new position in SRC Energy in the third quarter valued at approximately $172,000. Victory Capital Management Inc. increased its stake in SRC Energy by 9.2% in the third quarter. Victory Capital Management Inc. now owns 11,330,314 shares of the oil and natural gas company’s stock valued at $100,726,000 after acquiring an additional 958,827 shares during the last quarter. TCW Group Inc. increased its stake in SRC Energy by 7.9% in the third quarter. TCW Group Inc. now owns 341,153 shares of the oil and natural gas company’s stock valued at $3,033,000 after acquiring an additional 24,910 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in SRC Energy by 154.1% in the third quarter. Public Employees Retirement Association of Colorado now owns 23,726 shares of the oil and natural gas company’s stock valued at $211,000 after acquiring an additional 14,389 shares during the last quarter.

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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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