KLR Group cut shares of Synergy Resources Corp (NASDAQ:SYRG) from a buy rating to an accumulate rating in a research note issued to investors on Monday. They currently have $10.00 price target on the stock.

SYRG has been the subject of several other research reports. Citigroup Inc. decreased their price objective on Synergy Resources Corp from $10.00 to $8.00 and set a buy rating for the company in a report on Friday, August 5th. Roth Capital set a $9.00 price objective on Synergy Resources Corp and gave the company a buy rating in a report on Tuesday, September 6th. Zacks Investment Research upgraded Synergy Resources Corp from a hold rating to a buy rating and set a $9.25 price objective for the company in a report on Tuesday, November 15th. BMO Capital Markets reiterated a hold rating and set a $7.00 price objective on shares of Synergy Resources Corp in a report on Friday, September 9th. Finally, Canaccord Genuity reiterated a hold rating and set a $7.50 price objective on shares of Synergy Resources Corp in a report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Synergy Resources Corp has a consensus rating of Buy and an average target price of $9.24.

Analyst Recommendations for Synergy Resources Corp (NASDAQ:SYRG)

Synergy Resources Corp (NASDAQ:SYRG) opened at 8.23 on Monday. The stock’s market capitalization is $1.65 billion. Synergy Resources Corp has a 52-week low of $5.01 and a 52-week high of $11.69. The company’s 50-day moving average price is $7.60 and its 200 day moving average price is $6.82.

Synergy Resources Corp (NASDAQ:SYRG) last posted its earnings results on Thursday, November 3rd. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $26.20 million for the quarter, compared to analysts’ expectations of $26.70 million. The firm’s quarterly revenue was down 21.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. On average, equities research analysts predict that Synergy Resources Corp will post ($0.05) earnings per share for the current fiscal year.

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In other Synergy Resources Corp news, CEO Lynn A. Peterson purchased 49,071 shares of the company’s stock in a transaction on Thursday, October 6th. The stock was acquired at an average price 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 in the company, valued at approximately $2,936,202. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO James P. Henderson purchased 50,000 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was acquired at an average price of $5.95 per share, with a total value of $297,500.00. Following the purchase, the chief financial officer now owns 179,605 shares of the company’s stock, valued at $1,068,649.75. The disclosure for this purchase can be found here.

Several institutional investors have recently bought and sold shares of SYRG. Northpointe Capital LLC increased its position in Synergy Resources Corp by 564.4% in the second quarter. Northpointe Capital LLC now owns 2,017,529 shares of the company’s stock valued at $13,437,000 after buying an additional 1,713,847 shares during the period. Icon Advisers Inc. Co. boosted its stake in Synergy Resources Corp by 140.6% in the second quarter. Icon Advisers Inc. Co. now owns 2,148,550 shares of the company’s stock valued at $14,309,000 after buying an additional 1,255,450 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in Synergy Resources Corp by 5.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,198,518 shares of the company’s stock valued at $7,982,000 after buying an additional 66,682 shares during the period. Cortina Asset Management LLC boosted its stake in Synergy Resources Corp by 99.6% in the second quarter. Cortina Asset Management LLC now owns 930,818 shares of the company’s stock valued at $6,199,000 after buying an additional 464,555 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Synergy Resources Corp by 73.0% in the second quarter. Principal Financial Group Inc. now owns 1,387,854 shares of the company’s stock valued at $9,243,000 after buying an additional 585,453 shares during the period.

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.

5 Day Chart for NASDAQ:SYRG

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