Synergy Resources Corp (SYRG) Shares Down 3%
Synergy Resources Corp (NASDAQ:SYRG) shares fell 3% during mid-day trading on Wednesday . The company traded as low as $6.62 and last traded at $6.70, with a volume of 2,407,805 shares traded. The stock had previously closed at $6.91.
A number of brokerages have issued reports on SYRG. Citigroup Inc. set a $7.50 price target on Synergy Resources Corp and gave the stock a “buy” rating in a research report on Thursday, August 11th. BMO Capital Markets lowered Synergy Resources Corp from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $6.00 in a research report on Monday, August 8th. Canaccord Genuity reiterated a “hold” rating and set a $7.50 price target on shares of Synergy Resources Corp in a research report on Thursday, August 4th. Zacks Investment Research lowered Synergy Resources Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Roth Capital upgraded Synergy Resources Corp from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $7.81.
The stock’s market capitalization is $1.33 billion. The firm’s 50 day moving average is $6.61 and its 200 day moving average is $6.79.
Synergy Resources Corp (NASDAQ:SYRG) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.04. The business earned $23.90 million during the quarter, compared to analysts’ expectations of $24.90 million. During the same period last year, the business posted ($0.02) earnings per share. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. Equities research analysts forecast that Synergy Resources Corp will post ($0.09) EPS for the current year.
Synergy Resources Corporation is a shell company. The Company is an 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 has hydrocarbon-bearing deposits in several formations, including the Niobrara, Codell, Greenhorn, Shannon, Sussex, J-Sand and D-Sand.
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