Synergy Resources Corp (SYRG) Now Covered by Analysts at Credit Suisse Group AG
Equities researchers at Credit Suisse Group AG assumed coverage on shares of Synergy Resources Corp (NASDAQ:SYRG) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $9.00 price target on the stock. Credit Suisse Group AG’s price target suggests a potential upside of 53.06% from the stock’s previous close.
SYRG has been the subject of a number of other research reports. KLR Group reissued a “buy” rating and set a $9.00 target price (up previously from $8.00) on shares of Synergy Resources Corp in a report on Tuesday, August 30th. Citigroup Inc. set a $7.50 price target on Synergy Resources Corp and gave the company a “buy” rating in a report on Thursday, August 11th. Stephens raised Synergy Resources Corp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 1st. Roth Capital reaffirmed a “hold” rating on shares of Synergy Resources Corp in a report on Tuesday, July 12th. Finally, BMO Capital Markets cut Synergy Resources Corp from an “outperform” rating to a “market perform” rating and cut their price target for the company from $8.00 to $6.00 in a report on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Synergy Resources Corp has an average rating of “Buy” and a consensus target price of $8.35.
Shares of Synergy Resources Corp (NASDAQ:SYRG) opened at 5.88 on Wednesday. The firm’s 50-day moving average price is $6.64 and its 200-day moving average price is $6.87. The company’s market capitalization is $1.18 billion. Synergy Resources Corp has a 12 month low of $5.01 and a 12 month high of $12.24.
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Synergy Resources Corp (NASDAQ:SYRG) last announced its earnings results on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.04. The business earned $23.90 million during the quarter, compared to analyst estimates of $24.90 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. Synergy Resources Corp’s revenue was down 15.5% on a year-over-year basis. Equities research analysts expect that Synergy Resources Corp will post ($0.08) EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL purchased a new position in Synergy Resources Corp during the second quarter valued at approximately $119,000. Societe Generale purchased a new position in Synergy Resources Corp during the second quarter valued at approximately $121,000. Pittenger & Anderson Inc. raised its position in Synergy Resources Corp by 27.6% in the second quarter. Pittenger & Anderson Inc. now owns 18,500 shares of the company’s stock valued at $123,000 after buying an additional 4,000 shares in the last quarter. Amalgamated Bank raised its position in Synergy Resources Corp by 76.9% in the second quarter. Amalgamated Bank now owns 22,092 shares of the company’s stock valued at $152,000 after buying an additional 9,601 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Synergy Resources Corp by 167.2% in the second quarter. Tower Research Capital LLC TRC now owns 24,558 shares of the company’s stock valued at $163,000 after buying an additional 15,368 shares in the last quarter.
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.
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