SRC Energy (SRCI) Shares Gap Up Following Insider Buying Activity

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SRC Energy Inc (NYSEAMERICAN:SRCI)’s share price gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $8.21, but opened at $8.37. SRC Energy shares last traded at $7.64, with a volume of 312279 shares trading hands.

Specifically, EVP Nicholas Spence purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were purchased at an average price 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 approximately $1,101,374.44. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lynn A. Peterson purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were purchased at an average price of $9.26 per share, for a total transaction of $185,200.00. Following the acquisition, the chief executive officer now owns 626,591 shares of the company’s stock, valued at $5,802,232.66. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 40,000 shares of company stock worth $353,500.

Several equities research analysts recently issued reports on SRCI shares. Jefferies Financial Group set a $15.00 target price on shares of 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 on the stock in a report on Friday, July 13th. Roth Capital upgraded shares of SRC Energy from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, October 18th. KLR Group restated a “buy” rating and issued a $15.00 target price on shares of SRC Energy in a report on Monday, August 20th. Finally, Robert W. Baird cut shares of SRC Energy from an “outperform” rating to a “hold” rating and set a $10.00 target price on the stock. in a report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $12.63.

SRC Energy (NYSEAMERICAN:SRCI) last issued its quarterly earnings data on Wednesday, October 31st. The oil and natural gas company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $160.98 million during the quarter, compared to analysts’ expectations of $155.20 million.

Several large investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of SRC Energy by 6.3% during the 2nd quarter. BlackRock Inc. now owns 33,684,662 shares of the oil and natural gas company’s stock worth $371,205,000 after purchasing an additional 1,991,238 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of SRC Energy during the 2nd quarter worth about $21,820,000. Fisher Asset Management LLC boosted its stake in shares of SRC Energy by 493.8% during the 2nd quarter. Fisher Asset Management LLC now owns 1,875,474 shares of the oil and natural gas company’s stock worth $20,668,000 after purchasing an additional 1,559,623 shares during the period. LSV Asset Management boosted its stake in shares of SRC Energy by 34.3% during the 2nd quarter. LSV Asset Management now owns 5,338,357 shares of the oil and natural gas company’s stock worth $58,828,000 after purchasing an additional 1,363,454 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of SRC Energy by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,921,846 shares of the oil and natural gas company’s stock worth $153,418,000 after purchasing an additional 1,000,035 shares during the period.

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SRC Energy Company Profile (NYSEAMERICAN:SRCI)

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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