Synergy Resources Corp (NASDAQ:SYRG) CEO Lynn A. Peterson purchased 49,071 shares of the stock in a transaction on Thursday, October 6th. The stock was acquired at an average price of $6.00 per share, with a total value of $294,426.00. Following the acquisition, the chief executive officer now directly owns 489,367 shares in the company, valued at $2,936,202. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Synergy Resources Corp (NASDAQ:SYRG) traded up 1.83% during trading on Thursday, hitting $6.67. The company’s stock had a trading volume of 3,797,834 shares. Synergy Resources Corp has a 1-year low of $5.01 and a 1-year high of $12.18. The company’s market capitalization is $1.34 billion. The firm’s 50 day moving average is $6.62 and its 200-day moving average is $6.75.
Synergy Resources Corp (NASDAQ:SYRG) last issued its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by $0.04. The business earned $23.90 million during the quarter, compared to the consensus estimate of $24.90 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Synergy Resources Corp’s revenue was down 15.5% on a year-over-year basis. Analysts forecast that Synergy Resources Corp will post ($0.08) EPS for the current fiscal year.
Several research firms have recently weighed in on SYRG. Zacks Investment Research raised Synergy Resources Corp from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Wednesday, June 15th. Simmons began coverage on Synergy Resources Corp in a research note on Thursday, June 23rd. They issued an “overweight” rating on the stock. BMO Capital Markets lowered Synergy Resources Corp from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $8.00 to $6.00 in a research note on Monday, August 8th. Canaccord Genuity reaffirmed a “hold” rating and issued a $7.50 price objective on shares of Synergy Resources Corp in a research note on Thursday, August 4th. Finally, Roth Capital raised Synergy Resources Corp from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Thursday, July 28th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $8.46.
A number of hedge funds and other institutional investors have recently modified their holdings of SYRG. Foundry Partners LLC raised its position in shares of Synergy Resources Corp by 26.0% in the third quarter. Foundry Partners LLC now owns 36,350 shares of the company’s stock valued at $252,000 after buying an additional 7,500 shares during the last quarter. Mason Street Advisors LLC bought a new position in shares of Synergy Resources Corp during the second quarter worth approximately $252,000. Royal Bank of Canada raised 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 in the last quarter. Schwab Charles Investment Management Inc. raised 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 in the last quarter. Finally, Stifel Financial Corp raised 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 in 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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