Synergy Resources Corp (NASDAQ:SYRG) Director Daniel E. Kelly acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were bought at an average cost of $6.49 per share, for a total transaction of $97,350.00. Following the acquisition, the director now owns 31,272 shares of the company’s stock, valued at approximately $202,955.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Synergy Resources Corp (NASDAQ:SYRG) opened at 7.19 on Tuesday. The firm’s market cap is $1.44 billion. The stock has a 50 day moving average of $6.61 and a 200-day moving average of $6.72. Synergy Resources Corp has a 52-week low of $5.01 and a 52-week high of $12.17.
Synergy Resources Corp (NASDAQ:SYRG) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.04. The company had revenue of $23.90 million for the quarter, compared to analyst estimates of $24.90 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, analysts expect that Synergy Resources Corp will post ($0.08) EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. First Mercantile Trust Co. purchased a new stake in Synergy Resources Corp during the third quarter worth $414,000. Foundry Partners LLC boosted its stake in Synergy Resources Corp by 26.0% in the third quarter. Foundry Partners LLC now owns 36,350 shares of the company’s stock worth $252,000 after buying an additional 7,500 shares during the period. Mason Street Advisors LLC purchased a new stake in Synergy Resources Corp during the second quarter worth $252,000. Royal Bank of Canada boosted its stake in 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 period. Finally, Schwab Charles Investment Management Inc. boosted its stake in 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 period.
A number of analysts recently commented on the stock. Zacks Investment Research downgraded shares of Synergy Resources Corp from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. KLR Group raised shares of Synergy Resources Corp from an “accumulate” rating to a “buy” rating and boosted their price objective for the stock from $7.00 to $9.00 in a report on Monday, July 18th. BMO Capital Markets downgraded shares of Synergy Resources Corp from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $8.00 to $6.00 in a report on Monday, August 8th. Credit Suisse Group AG assumed coverage on shares of Synergy Resources Corp in a report on Wednesday, September 21st. They issued an “outperform” rating and a $9.00 price target on the stock. Finally, Piper Jaffray Cos. assumed coverage on shares of Synergy Resources Corp in a report on Thursday, June 23rd. They issued an “overweight” rating on the stock. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $8.46.
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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