Synergy Resources Corp (SYRG) Now Covered by Credit Suisse Group AG
Equities researchers at Credit Suisse Group AG began coverage on shares of Synergy Resources Corp (NASDAQ:SYRG) in a report released on Wednesday. The firm set an “outperform” rating and a $9.00 price target on the stock. Credit Suisse Group AG’s target price suggests a potential upside of 34.53% from the stock’s current price.
SYRG has been the subject of a number of other research reports. KLR Group restated a “buy” rating and set a $9.00 target price (up previously from $8.00) on shares of Synergy Resources Corp in a research report on Tuesday, August 30th. Citigroup Inc. set a $7.50 price objective on Synergy Resources Corp and gave the company a “buy” rating in a report on Thursday, August 11th. Stephens upgraded Synergy Resources Corp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 1st. Roth Capital reiterated a “hold” rating on shares of Synergy Resources Corp in a report on Tuesday, July 12th. Finally, BMO Capital Markets downgraded Synergy Resources Corp from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $8.00 to $6.00 in a report on Monday, August 8th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.35.
Shares of Synergy Resources Corp (NASDAQ:SYRG) opened at 6.69 on Wednesday. The stock’s market capitalization is $1.34 billion. The stock’s 50 day moving average price is $6.65 and its 200-day moving average price is $6.86. Synergy Resources Corp has a 1-year low of $5.01 and a 1-year high of $12.24.
Synergy Resources Corp (NASDAQ:SYRG) last released its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.04. The firm earned $23.90 million during the quarter, compared to the consensus estimate of $24.90 million. The firm’s revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) EPS. Equities research analysts anticipate that Synergy Resources Corp will post ($0.08) EPS for the current fiscal year.
In other Synergy Resources Corp news, COO Michael Eberhard bought 15,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was purchased at an average cost of $6.11 per share, with a total value of $91,650.00. Following the completion of the purchase, the chief operating officer now owns 93,763 shares in the company, valued at $572,891.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James P. Henderson bought 50,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was acquired at an average cost of $5.95 per share, with a total value of $297,500.00. Following the completion of the purchase, the chief financial officer now owns 179,605 shares of the company’s stock, valued at approximately $1,068,649.75. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virginia Retirement Systems ET AL purchased a new position in Synergy Resources Corp during the second quarter valued at $119,000. Societe Generale purchased a new position in Synergy Resources Corp during the second quarter valued at $121,000. Pittenger & Anderson Inc. boosted its position in Synergy Resources Corp by 27.6% in the second quarter. Pittenger & Anderson Inc. now owns 18,500 shares of the company’s stock valued at $123,000 after buying an additional 4,000 shares in the last quarter. Amalgamated Bank boosted its position in Synergy Resources Corp by 76.9% in the second quarter. Amalgamated Bank now owns 22,092 shares of the company’s stock valued at $152,000 after buying an additional 9,601 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Synergy Resources Corp by 167.2% in the second quarter. Tower Research Capital LLC TRC now owns 24,558 shares of the company’s stock valued at $163,000 after buying an additional 15,368 shares in the last quarter.
About Synergy Resources Corp
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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