Published On: Thu, Sep 8th, 2016

Synergy Resources Corp (SYRG) PT Lowered to $10.00

Synergy Resources Corp (NASDAQ:SYRG) had its price objective cut by equities researchers at Simmons to $10.00 in a research report issued to clients and investors on Thursday. Simmons’ target price would suggest a potential upside of 42.86% from the company’s current price.
Several other research analysts also recently commented on SYRG. Stephens raised shares of Synergy Resources Corp from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 1st. KLR Group raised shares of Synergy Resources Corp from an “accumulate” rating to a “buy” rating and lifted their price target for the stock from $7.00 to $9.00 in a research note on Monday, July 18th. Zacks Investment Research downgraded shares of Synergy Resources Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. BMO Capital Markets downgraded shares of Synergy Resources Corp from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $8.00 to $6.00 in a research note on Monday, August 8th. Finally, Cantor Fitzgerald raised shares of Synergy Resources Corp to a “buy” rating in a research note on Sunday, May 29th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.06.
Shares of Synergy Resources Corp (NASDAQ:SYRG) traded up 2.214% on Thursday, reaching $7.155. 3,600,974 shares of the company traded hands. The stock’s market capitalization is $1.43 billion. The stock’s 50 day moving average price is $6.63 and its 200-day moving average price is $6.86. Synergy Resources Corp has a one year low of $5.01 and a one year high of $12.24.

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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. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The business had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $24.90 million. The business’s quarterly revenue was down 15.5% on a year-over-year basis. Equities analysts forecast that Synergy Resources Corp will post ($0.08) earnings per share for the current fiscal year.
A number of hedge funds and institutional investors recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of Synergy Resources Corp by 6.2% in the second quarter. Nisa Investment Advisors LLC now owns 39,200 shares of the company’s stock worth $261,000 after buying an additional 2,300 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Synergy Resources Corp by 282.1% in the second quarter. BNP Paribas Arbitrage SA now owns 62,923 shares of the company’s stock worth $419,000 after buying an additional 46,456 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Synergy Resources Corp by 60.6% in the second quarter. Capstone Asset Management Co. now owns 64,770 shares of the company’s stock worth $431,000 after buying an additional 24,440 shares during the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Synergy Resources Corp during the second quarter worth about $482,000. Finally, LaSalle Street Capital Management LLC increased its position in shares of Synergy Resources Corp by 102.2% in the second quarter. LaSalle Street Capital Management LLC now owns 74,039 shares of the company’s stock worth $493,000 after buying an additional 37,419 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.

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