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SRC Energy (SRCI) Surges: Stock Moves 12.1% Higher

Zacks Equity Research

SRC Energy, Inc. SRCI was a big mover last session, as the company saw its shares rise more than 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $3.71–$4.72 in the past one-month time frame, witnessed a sharp increase yesterday.

The stock gained after the company announced that it has entered into a definitive merger agreement with PDC Energy in an all-stock transaction valued at around $1.7 billion.

The company has seen eight negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

SRC Energy currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

Synergy Resources Corporation Price

Synergy Resources Corporation Price

Synergy Resources Corporation price | Synergy Resources Corporation Quote

Investors interested in the Oils-Energy sector may consider a better-ranked stock like Ameresco, Inc. AMRC, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is SRCI going up? Or down? Predict to see what others think:Up or Down

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