BMO Capital Markets reissued their hold rating on shares of Synergy Resources Corp (NASDAQ:SYRG) in a research note released on Monday. BMO Capital Markets currently has a $7.00 price target on the stock.

SYRG has been the subject of several other reports. Citigroup Inc. set a $8.50 target price on Synergy Resources Corp and gave the company a buy rating in a report on Monday, September 12th. Wells Fargo & Co. began coverage on Synergy Resources Corp in a report on Tuesday, October 25th. They issued an outperform rating for the company. RBC Capital Markets began coverage on Synergy Resources Corp in a report on Tuesday, September 27th. They issued an outperform rating and a $9.00 price objective for the company. Royal Bank Of Canada began coverage on Synergy Resources Corp in a report on Tuesday, September 27th. They issued an outperform rating and a $9.00 price objective for the company. Finally, Credit Suisse Group AG began coverage on Synergy Resources Corp in a report on Wednesday, September 21st. They issued an outperform rating and a $9.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Synergy Resources Corp presently has an average rating of Buy and an average target price of $8.58.

Analyst Recommendations for Synergy Resources Corp (NASDAQ:SYRG)

Shares of Synergy Resources Corp (NASDAQ:SYRG) opened at 7.89 on Monday. Synergy Resources Corp has a 52-week low of $5.01 and a 52-week high of $11.97. The firm has a 50-day moving average price of $6.99 and a 200-day moving average price of $6.67. The firm’s market cap is $1.58 billion.

Synergy Resources Corp (NASDAQ:SYRG) last posted its earnings results on Thursday, November 3rd. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The company had revenue of $26.20 million for the quarter, compared to the consensus estimate of $26.70 million. The firm’s revenue for the quarter was down 21.6% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. Analysts predict that Synergy Resources Corp will post ($0.08) EPS for the current fiscal year.

In other Synergy Resources Corp news, CFO James P. Henderson bought 50,000 shares of the stock in a transaction on Tuesday, September 20th. The shares were purchased at an average cost of $5.95 per share, with a total value of $297,500.00. Following the completion of the transaction, the chief financial officer now directly owns 179,605 shares of the company’s stock, valued at approximately $1,068,649.75. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel E. Kelly bought 15,000 shares of the stock in a transaction on Wednesday, October 5th. The shares were acquired at an average cost of $6.49 per share, for a total transaction of $97,350.00. Following the completion of the transaction, the director now directly owns 31,272 shares of the company’s stock, valued at $202,955.28. The disclosure for this purchase can be found here.

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. acquired a new stake in shares of Synergy Resources Corp during the second quarter valued at about $2,352,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Synergy Resources Corp during the second quarter valued at about $482,000. Louisiana State Employees Retirement System increased its stake in shares of 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 valued at $571,000 after buying an additional 35,000 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Synergy Resources Corp during the second quarter valued at about $513,000. Finally, Parkwood LLC acquired a new stake in shares of Synergy Resources Corp during the second quarter valued at about $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.

5 Day Chart for NASDAQ:SYRG

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