Credit Suisse Group AG assumed coverage on shares of Synergy Resources Corp (NASDAQ:SYRG) in a report released on Wednesday. The brokerage set an “outperform” rating and a $9.00 price target on the stock. Credit Suisse Group AG’s target price points to a potential upside of 34.53% from the company’s previous close.

SYRG has been the subject of several other reports. Citigroup Inc. set a $8.50 price objective on Synergy Resources Corp and gave the stock a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research lowered Synergy Resources Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Piper Jaffray Cos. started coverage on Synergy Resources Corp in a research report on Thursday, June 23rd. They issued an “overweight” rating for the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $7.50 target price on shares of Synergy Resources Corp in a research report on Friday, July 29th. Finally, KLR Group reaffirmed a “buy” rating and issued a $9.00 target price (up from $8.00) on shares of Synergy Resources Corp in a research report on Tuesday, August 30th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Synergy Resources Corp has an average rating of “Buy” and a consensus price target of $8.35.

Synergy Resources Corp (NASDAQ:SYRG) opened at 6.69 on Wednesday. Synergy Resources Corp has a 12 month low of $5.01 and a 12 month high of $12.24. The company’s 50-day moving average price is $6.65 and its 200 day moving average price is $6.86. The firm’s market capitalization is $1.34 billion.

Synergy Resources Corp (NASDAQ:SYRG) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. The firm earned $23.90 million during the quarter, compared to analysts’ expectations of $24.90 million. During the same period in the previous year, the business posted ($0.02) earnings per share. The company’s quarterly revenue was down 15.5% on a year-over-year basis. On average, equities research analysts predict that Synergy Resources Corp will post ($0.08) earnings per share for the current year.

In related news, CFO James P. Henderson purchased 50,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The stock was acquired at an average price of $5.95 per share, for a total transaction of $297,500.00. Following the purchase, the chief financial officer now owns 179,605 shares of the company’s stock, valued at $1,068,649.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Michael Eberhard purchased 15,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were bought at an average price of $6.11 per share, with a total value of $91,650.00. Following the purchase, the chief operating officer now directly owns 93,763 shares in the company, valued at approximately $572,891.93. The disclosure for this purchase can be found here.

Institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC bought a new position in Synergy Resources Corp during the second quarter worth about $252,000. Royal Bank of Canada increased its position in shares of Synergy Resources Corp by 20.8% in the second quarter. Royal Bank of Canada now owns 2,190,114 shares of the company’s stock worth $14,586,000 after buying an additional 376,965 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Synergy Resources Corp by 70.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 664,530 shares of the company’s stock worth $4,426,000 after buying an additional 274,680 shares during the last quarter. Stifel Financial Corp increased its position in shares of Synergy Resources Corp by 714.3% in the second quarter. Stifel Financial Corp now owns 145,683 shares of the company’s stock worth $971,000 after buying an additional 127,793 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Synergy Resources Corp by 76.9% in the second quarter. Amalgamated Bank now owns 22,092 shares of the company’s stock worth $152,000 after buying an additional 9,601 shares during the last quarter.

Synergy Resources Corp Company Profile

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.

5 Day Chart for NASDAQ:SYRG

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