Synergy Resources Corp Shares Down 3.9% After Insider Selling (SYRG)
Shares of Synergy Resources Corp (NASDAQ:SYRG) fell 3.9% during mid-day trading on Thursday following insider selling activity, American Banking & Market News reports. The stock traded as low as $13.04 and last traded at $13.07, with a volume of 362,599 shares trading hands. The stock had previously closed at $13.60.
Specifically, CFO Frank L. Jennings sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $13.48, for a total value of $134,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Synergy Resources Corp in a research note on Monday, August 18th. They set a “buy” rating and a $17.00 price target on the stock. Separately, 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. Finally, 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. Fourteen research analysts have rated the stock with a buy rating, Synergy Resources Corp currently has a consensus rating of “Buy” and a consensus target price of $16.04.
The stock’s 50-day moving average is $12.36 and its 200-day moving average is $11.57. The company has a market cap of $1.017 billion and a price-to-earnings ratio of 52.11.
Synergy Resources Corp (NASDAQ:SYRG) last posted its quarterly earnings results on Wednesday, July 9th. The company reported $0.09 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.06 earnings per share. Synergy Resources Corp’s revenue was up 108.9% compared to the same quarter last year. On average, analysts predict that Synergy Resources Corp will post $0.38 earnings per share for the current fiscal year.
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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