SRC Energy Inc (SRCI) Shares Bought by SailingStone Capital Partners LLC

SailingStone Capital Partners LLC grew its stake in SRC Energy Inc (NYSEAMERICAN:SRCI) by 0.1% during the fourth quarter, HoldingsChannel reports. The fund owned 25,710,046 shares of the oil and natural gas company’s stock after purchasing an additional 16,339 shares during the quarter. SRC Energy makes up 7.9% of SailingStone Capital Partners LLC’s investment portfolio, making the stock its 5th biggest position. SailingStone Capital Partners LLC owned about 0.11% of SRC Energy worth $120,837,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SRCI. Eagle Asset Management Inc. boosted its stake in shares of SRC Energy by 0.5% during the fourth quarter. Eagle Asset Management Inc. now owns 489,594 shares of the oil and natural gas company’s stock valued at $2,301,000 after purchasing an additional 2,589 shares in the last quarter. Allen Capital Group LLC boosted its stake in shares of SRC Energy by 17.5% during the fourth quarter. Allen Capital Group LLC now owns 18,970 shares of the oil and natural gas company’s stock valued at $96,000 after purchasing an additional 2,825 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of SRC Energy by 15.8% during the fourth quarter. Private Advisor Group LLC now owns 22,445 shares of the oil and natural gas company’s stock valued at $105,000 after purchasing an additional 3,068 shares in the last quarter. Bowling Portfolio Management LLC boosted its stake in shares of SRC Energy by 2.6% during the fourth quarter. Bowling Portfolio Management LLC now owns 124,310 shares of the oil and natural gas company’s stock valued at $584,000 after purchasing an additional 3,177 shares in the last quarter. Finally, Gradient Investments LLC boosted its stake in shares of SRC Energy by 2.8% during the fourth quarter. Gradient Investments LLC now owns 165,770 shares of the oil and natural gas company’s stock valued at $779,000 after purchasing an additional 4,487 shares in the last quarter.

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Shares of NYSEAMERICAN SRCI traded up $0.09 during midday trading on Wednesday, reaching $5.00. The company had a trading volume of 43,037 shares, compared to its average volume of 3,962,283. SRC Energy Inc has a 1 year low of $4.01 and a 1 year high of $13.32.

SRC Energy (NYSEAMERICAN:SRCI) last posted its quarterly earnings results on Wednesday, February 20th. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. The company had revenue of $190.34 million during the quarter, compared to analysts’ expectations of $186.18 million.

A number of research firms recently commented on SRCI. Raymond James set a $8.00 target price on shares of SRC Energy and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Robert W. Baird set a $5.00 target price on shares of SRC Energy and gave the company a “buy” rating in a research report on Friday, February 8th. TheStreet raised shares of SRC Energy from a “d+” rating to a “c” rating in a research report on Wednesday, March 6th. Zacks Investment Research raised shares of SRC Energy from a “strong sell” rating to a “hold” rating in a research report on Saturday, January 26th. Finally, BMO Capital Markets decreased their target price on shares of SRC Energy to $7.00 and set a “market perform” rating for the company in a research report on Thursday, February 7th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. SRC Energy has a consensus rating of “Buy” and a consensus target price of $11.06.

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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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