Synergy Resources Corp (NASDAQ:SYRG) had its price target hoisted by equities research analysts at KeyCorp from $10.00 to $12.00 in a report released on Tuesday. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 40.52% from the stock’s previous close.

SYRG has been the topic of a number of other reports. Citigroup Inc. set a $8.50 price target on Synergy Resources Corp and gave the company a “buy” rating in a report on Monday, September 12th. Wells Fargo & Co. initiated coverage on Synergy Resources Corp in a report on Tuesday, October 25th. They issued an “outperform” rating on the stock. Credit Suisse Group AG initiated coverage on Synergy Resources Corp in a report on Wednesday, September 21st. They issued an “outperform” rating and a $9.00 price target on the stock. RBC Capital Markets initiated coverage on Synergy Resources Corp in a report on Tuesday, September 27th. They issued an “outperform” rating and a $9.00 price target on the stock. Finally, Royal Bank Of Canada initiated coverage on Synergy Resources Corp in a report on Tuesday, September 27th. They issued an “outperform” rating and a $9.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $9.19.

Analyst Recommendations for Synergy Resources Corp (NASDAQ:SYRG)

Synergy Resources Corp (NASDAQ:SYRG) traded down 1.17% during mid-day trading on Tuesday, reaching $8.44. The company’s stock had a trading volume of 1,674,722 shares. The stock’s market cap is $1.07 billion. The company has a 50 day moving average of $7.35 and a 200-day moving average of $6.73. Synergy Resources Corp has a 52-week low of $5.01 and a 52-week high of $11.86.

Synergy Resources Corp (NASDAQ:SYRG) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm earned $26.20 million during the quarter, compared to the consensus estimate of $26.70 million. The business’s revenue for the quarter was down 21.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. Equities analysts forecast that Synergy Resources Corp will post ($0.05) earnings per share for the current year.

In other Synergy Resources Corp news, CEO Lynn A. Peterson bought 49,071 shares of the business’s stock in a transaction on Thursday, October 6th. The stock was purchased at an average cost of $6.00 per share, for a total transaction of $294,426.00. Following the completion of the purchase, the chief executive officer now directly owns 489,367 shares of the company’s stock, valued at $2,936,202. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel E. Kelly bought 15,000 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were acquired at an average price of $6.49 per share, with a total value of $97,350.00. Following the completion of the purchase, 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.

A number of large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. acquired a new stake in Synergy Resources Corp during the second quarter valued at $2,352,000. Stoneridge Investment Partners LLC acquired a new stake in Synergy Resources Corp during the second quarter valued at $482,000. Louisiana State Employees Retirement System boosted 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 valued at $571,000 after buying an additional 35,000 shares during the last quarter. Bank of Montreal Can acquired a new stake in Synergy Resources Corp during the second quarter valued at $513,000. Finally, Parkwood LLC acquired a new stake in Synergy Resources Corp during the second quarter valued at $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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