Stock analysts at Credit Suisse Group AG initiated coverage on shares of Synergy Resources Corp. (NYSEMKT:SYRG) in a note issued to investors on Wednesday, StockTargetPrices.com reports. The firm set an “outperform” rating and a $9.00 price target on the stock. Credit Suisse Group AG’s price target would suggest a potential upside of 53.06% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Seaport Global Securities upgraded shares of Synergy Resources Corp. from an “accumulate” rating to a “buy” rating in a report on Tuesday, June 7th. Cantor Fitzgerald upgraded shares of Synergy Resources Corp. from a “hold” rating to a “buy” rating in a report on Saturday, May 28th. KLR Group upgraded shares of Synergy Resources Corp. from an “accumulate” rating to a “buy” rating and upped their price objective for the stock from $7.00 to $9.00 in a report on Monday, July 18th. Imperial Capital downgraded shares of Synergy Resources Corp. from an “outperform” rating to an “in-line” rating and lowered their price objective for the stock from $7.50 to $6.50 in a report on Tuesday, August 2nd. Finally, BMO Capital Markets downgraded shares of Synergy Resources Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, August 8th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $9.80.

Shares of Synergy Resources Corp. (NYSEMKT:SYRG) opened at 5.88 on Wednesday. Synergy Resources Corp. has a 1-year low of $5.01 and a 1-year high of $12.24. The stock’s 50 day moving average is $6.64 and its 200-day moving average is $6.87. The firm’s market cap is $1.18 billion.

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A number of large investors have recently added to or reduced their stakes in SYRG. BlackRock Fund Advisors increased its stake in Synergy Resources Corp. by 13.2% in the first quarter. BlackRock Fund Advisors now owns 7,211,935 shares of the company’s stock valued at $56,037,000 after buying an additional 841,919 shares during the period. Prudential Financial Inc. increased its stake in Synergy Resources Corp. by 18.1% in the first quarter. Prudential Financial Inc. now owns 274,200 shares of the company’s stock valued at $2,131,000 after buying an additional 42,100 shares during the period. Wellington Management Group LLP increased its stake in Synergy Resources Corp. by 356.5% in the first quarter. Wellington Management Group LLP now owns 5,969,877 shares of the company’s stock valued at $46,386,000 after buying an additional 4,662,254 shares during the period. Credit Agricole S A increased its stake in Synergy Resources Corp. by 900.0% in the first quarter. Credit Agricole S A now owns 380,000 shares of the company’s stock valued at $2,952,000 after buying an additional 342,000 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Synergy Resources Corp. by 65.9% in the first quarter. JPMorgan Chase & Co. now owns 3,760,645 shares of the company’s stock valued at $29,220,000 after buying an additional 1,494,250 shares during the period.

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.

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