Synergy Resources Corp (SYRG) CEO Lynn A. Peterson Buys 49,071 Shares of Stock
Synergy Resources Corp (NASDAQ:SYRG) CEO Lynn A. Peterson bought 49,071 shares of the stock in a transaction that occurred on Thursday, October 6th. The shares were bought at an average cost of $6.00 per share, with a total value of $294,426.00. Following the completion of the transaction, the chief executive officer now owns 489,367 shares in the company, valued at $2,936,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Synergy Resources Corp (NASDAQ:SYRG) remained flat at $6.67 during trading on Friday. 787,776 shares of the stock were exchanged. The company’s 50 day moving average is $6.62 and its 200-day moving average is $6.75. The stock’s market capitalization is $1.34 billion. Synergy Resources Corp has a 1-year low of $5.01 and a 1-year high of $12.18.
Synergy Resources Corp (NASDAQ:SYRG) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.04. The business had revenue of $23.90 million for the quarter, compared to analyst estimates of $24.90 million. During the same period last year, the firm posted ($0.02) EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. Equities research analysts forecast that Synergy Resources Corp will post ($0.08) earnings per share 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 for the company in a research report on Wednesday, June 15th. Simmons began coverage on Synergy Resources Corp in a research report on Thursday, June 23rd. They issued an “overweight” rating for the company. BMO Capital Markets lowered Synergy Resources Corp from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $8.00 to $6.00 in a research report on Monday, August 8th. Canaccord Genuity reissued a “hold” rating and issued a $7.50 price objective on shares of Synergy Resources Corp in a research report 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 for the company in a research report on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.46.
Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. acquired a new stake in Synergy Resources Corp during the second quarter valued at about $2,352,000. Stoneridge Investment Partners LLC purchased a new stake in Synergy Resources Corp during the second quarter worth $482,000. Louisiana State Employees Retirement System raised its stake in Synergy Resources Corp by 68.9% in the second quarter. Louisiana State Employees Retirement System now owns 85,800 shares of the company’s stock worth $571,000 after buying an additional 35,000 shares in the last quarter. Bank of Montreal Can purchased a new stake in Synergy Resources Corp during the second quarter worth $513,000. Finally, Parkwood LLC purchased a new stake in Synergy Resources Corp during the second quarter worth $897,000.
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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