Russell Investments Group Ltd. cut its stake in SRC Energy Inc (NYSEAMERICAN:SRCI) by 90.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,123 shares of the oil and natural gas company’s stock after selling 334,871 shares during the period. Russell Investments Group Ltd.’s holdings in SRC Energy were worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SRCI. Carnick & Kubik Group LLC purchased a new position in shares of SRC Energy during the third quarter valued at approximately $106,000. Ameritas Investment Partners Inc. lifted its holdings in shares of SRC Energy by 9.9% during the second quarter. Ameritas Investment Partners Inc. now owns 17,639 shares of the oil and natural gas company’s stock valued at $119,000 after purchasing an additional 1,584 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of SRC Energy during the second quarter valued at approximately $133,000. Shelton Capital Management purchased a new position in shares of SRC Energy during the second quarter valued at approximately $134,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of SRC Energy by 80.4% during the second quarter. Riverhead Capital Management LLC now owns 22,013 shares of the oil and natural gas company’s stock valued at $148,000 after purchasing an additional 9,813 shares during the last quarter.

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A number of equities analysts recently weighed in on SRCI shares. BidaskClub lowered shares of SRC Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Stifel Nicolaus lifted their target price on shares of SRC Energy from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Jefferies Group began coverage on shares of SRC Energy in a research report on Monday, October 9th. They issued a “buy” rating and a $12.00 target price for the company. BMO Capital Markets set a $10.00 target price on shares of SRC Energy and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Finally, Zacks Investment Research downgraded shares of SRC Energy from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $11.88.

Shares of SRC Energy Inc (SRCI) traded down $0.03 during trading on Monday, reaching $9.44. 4,053,379 shares of the company traded hands, compared to its average volume of 2,691,294. The company has a market cap of $2,260.00, a P/E ratio of 19.67 and a beta of 1.55. SRC Energy Inc has a one year low of $6.19 and a one year high of $10.22.

SRC Energy (NYSEAMERICAN:SRCI) last issued its earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. The company had revenue of $103.59 million during the quarter, compared to the consensus estimate of $99.64 million. SRC Energy had a net margin of 42.33% and a return on equity of 19.16%.

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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.

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

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