Equities researchers at Credit Suisse Group AG initiated coverage on shares of Synergy Resources Corp (NASDAQ:SYRG) in a report released on Wednesday. The firm set an “outperform” rating and a $9.00 price target on the stock. Credit Suisse Group AG’s price target indicates a potential upside of 53.06% from the company’s previous close.

Several other research analysts have also issued reports on SYRG. Cantor Fitzgerald upgraded shares of Synergy Resources Corp to a “buy” rating in a research report on Sunday, May 29th. Stephens upgraded shares of Synergy Resources Corp from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, June 1st. Seaport Global Securities upgraded shares of Synergy Resources Corp from an “accumulate” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Tuesday, June 7th. Zacks Investment Research upgraded shares of Synergy Resources Corp from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Wednesday, June 15th. Finally, Raymond James Financial Inc. initiated coverage on shares of Synergy Resources Corp in a research report on Friday, June 17th. They issued a “strong-buy” rating on the stock. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Synergy Resources Corp has an average rating of “Buy” and an average price target of $8.35.

Shares of Synergy Resources Corp (NASDAQ:SYRG) opened at 5.88 on Wednesday. The stock’s 50 day moving average price is $6.64 and its 200-day moving average price is $6.87. Synergy Resources Corp has a 12-month low of $5.01 and a 12-month high of $12.24. The firm’s market capitalization is $1.18 billion.

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Synergy Resources Corp (NASDAQ:SYRG) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. The business had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $24.90 million. The business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. On average, equities analysts expect that Synergy Resources Corp will post ($0.08) EPS for the current year.

Several large investors have recently modified their holdings of the stock. Mason Street Advisors LLC bought a new stake in shares of Synergy Resources Corp during the second quarter worth about $252,000. Royal Bank of Canada raised its stake in shares of Synergy Resources Corp by 20.8% in the second quarter. Royal Bank of Canada now owns 2,190,114 shares of the company’s stock worth $14,586,000 after buying an additional 376,965 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Synergy Resources Corp by 70.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 664,530 shares of the company’s stock worth $4,426,000 after buying an additional 274,680 shares during the period. Stifel Financial Corp raised its stake in shares of Synergy Resources Corp by 714.3% in the second quarter. Stifel Financial Corp now owns 145,683 shares of the company’s stock worth $971,000 after buying an additional 127,793 shares during the period. Finally, Amalgamated Bank raised its stake in shares of Synergy Resources Corp by 76.9% in the second quarter. Amalgamated Bank now owns 22,092 shares of the company’s stock worth $152,000 after buying an additional 9,601 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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