Synergy Resources Corp (SYRG) Shares Down 4.3%
Shares of Synergy Resources Corp (NASDAQ:SYRG) fell 4.3% on Wednesday . The company traded as low as $6.42 and last traded at $6.51, with a volume of 3,919,336 shares traded. The stock had previously closed at $6.80.
A number of research firms have recently weighed in on SYRG. Cantor Fitzgerald raised shares of Synergy Resources Corp to a “buy” rating in a research report on Sunday, May 29th. Zacks Investment Research raised shares of Synergy Resources Corp from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Wednesday, June 15th. Simmons began coverage on Synergy Resources Corp in a research note on Thursday, June 23rd. They set an “overweight” rating on the stock. Canaccord Genuity restated a “hold” rating and set a $7.50 price objective on shares of Synergy Resources Corp in a research note on Thursday, August 4th. Finally, BMO Capital Markets cut Synergy Resources Corp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $6.00 in a research note on Monday, August 8th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $7.81.
The company’s market cap is $1.31 billion. The stock’s 50 day moving average price is $6.62 and its 200-day moving average price is $6.84.
Synergy Resources Corp (NASDAQ:SYRG) last posted its earnings results 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 company earned $23.90 million during the quarter, compared to analysts’ expectations of $24.90 million. During the same period in the prior year, the business posted ($0.02) EPS. The business’s revenue was down 15.5% on a year-over-year basis. On average, equities analysts anticipate that Synergy Resources Corp will post ($0.09) EPS for the current fiscal 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.