Royal Bank of Canada cut its holdings in shares of SRC Energy Inc (NYSEAMERICAN:SRCI) by 1.6% during the second quarter, HoldingsChannel.com reports. The firm owned 1,100,128 shares of the oil and natural gas company’s stock after selling 17,363 shares during the quarter. Royal Bank of Canada’s holdings in SRC Energy were worth $5,456,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in SRCI. Strs Ohio acquired a new position in SRC Energy during the 2nd quarter valued at about $43,000. SRS Capital Advisors Inc. acquired a new stake in shares of SRC Energy in the 2nd quarter valued at approximately $49,000. Denali Advisors LLC acquired a new stake in shares of SRC Energy in the 2nd quarter valued at approximately $53,000. GAM Holding AG acquired a new stake in shares of SRC Energy in the 2nd quarter valued at approximately $54,000. Finally, Ellington Management Group LLC acquired a new stake in shares of SRC Energy in the 2nd quarter valued at approximately $57,000.
NYSEAMERICAN SRCI opened at $4.05 on Friday. SRC Energy Inc has a 52-week low of $3.17 and a 52-week high of $9.25.
A number of analysts recently weighed in on SRCI shares. Zacks Investment Research upgraded shares of SRC Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Raymond James reiterated a “strong-buy” rating and issued a $6.00 price target (down from $7.00) on shares of SRC Energy in a research report on Friday, August 2nd. Alliance Global Partners downgraded shares of SRC Energy to a “hold” rating in a research report on Monday, August 26th. Capital One Financial upgraded shares of SRC Energy from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 27th. Finally, MKM Partners downgraded shares of SRC Energy from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. SRC Energy has an average rating of “Buy” and an average price target of $10.69.
About SRC Energy
SRC Energy Inc, an 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, 2018, it had net proved oil and natural gas reserves of 88 million barrels of oil and condensate, 771.9 billion cubic feet of natural gas, and 89.1 million barrels of natural gas liquids; and operated 985 net producing wells, as well as had 95,200 gross and 86,200 net acres under lease in the Wattenberg Field.
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