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Stock analysts at Canaccord Genuity assumed coverage on shares of Synergy Resources Corp (NASDAQ:SYRG) in a report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $17.00 price target on the stock. Canaccord Genuity’s price objective indicates a potential upside of 33.02% from the stock’s previous close.

Shares of Synergy Resources Corp (NASDAQ:SYRG) opened at 12.78 on Monday. Synergy Resources Corp has a 52 week low of $7.25 and a 52 week high of $14.11. The stock’s 50-day moving average is $12.16 and its 200-day moving average is $11.15. The company has a market cap of $991.9 million and a P/E ratio of 48.97.

Synergy Resources Corp (NASDAQ:SYRG) last issued its quarterly earnings data on Wednesday, July 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.01. The company had revenue of $25.70 million for the quarter, compared to the consensus estimate of $27.99 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 108.9% on a year-over-year basis. On average, analysts predict that Synergy Resources Corp will post $0.38 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus upgraded shares of Synergy Resources Corp from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. They now have a $13.00 price target on the stock. Separately, analysts at FBR Capital Markets initiated coverage on shares of Synergy Resources Corp in a research note on Wednesday, July 16th. They set an “outperform” rating and a $19.00 price target on the stock. Finally, analysts at ISI Group raised their EPS on shares of Synergy Resources Corp in a research note on Thursday, July 10th. They now have an “outperform” rating on the stock. Fourteen analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $16.04.

Synergy Resources Corporation is an oil and gas operator in Colorado. The Company is focused on the acquisition, development, exploitation, exploration and production of oil and natural gas properties primarily located in the Denver-Julesburg Basin (NASDAQ:SYRG) in northeast Colorado.

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