Analysts at Credit Suisse Group AG initiated coverage on shares of Synergy Resources Corp. (NYSEMKT:SYRG) in a research note issued to investors on Wednesday. The brokerage set an “outperform” rating and a $9.00 price target on the stock. Credit Suisse Group AG’s target price indicates a potential upside of 53.06% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Cantor Fitzgerald upgraded shares of Synergy Resources Corp. from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Friday, May 27th. BMO Capital Markets lowered shares of Synergy Resources Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, August 8th. KLR Group upgraded shares of Synergy Resources Corp. from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $7.00 to $9.00 in a research report on Monday, July 18th. Raymond James Financial Inc. started coverage on shares of Synergy Resources Corp. in a research report on Friday, June 17th. They set a “strong-buy” rating for the company. Finally, Seaport Global Securities upgraded shares of Synergy Resources Corp. from an “accumulate” rating to a “buy” rating in a research report on Tuesday, June 7th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Synergy Resources Corp. presently has an average rating of “Buy” and an average target price of $9.80.

Synergy Resources Corp. (NYSEMKT:SYRG) opened at 5.88 on Wednesday. The stock has a 50 day moving average of $6.64 and a 200 day moving average of $6.87. The firm’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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Several hedge funds and other institutional investors have recently modified their holdings of SYRG. Royal Bank of Canada boosted its position in shares of Synergy Resources Corp. by 0.3% in the first quarter. Royal Bank of Canada now owns 1,813,149 shares of the company’s stock valued at $14,088,000 after buying an additional 5,084 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Synergy Resources Corp. by 20.0% in the first quarter. Arizona State Retirement System now owns 58,847 shares of the company’s stock valued at $457,000 after buying an additional 9,800 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Synergy Resources Corp. during the first quarter valued at about $332,000. Barclays PLC purchased a new position in shares of Synergy Resources Corp. during the first quarter valued at about $475,000. Finally, Scholtz & Company LLC purchased a new position in shares of Synergy Resources Corp. during the first quarter valued at about $1,850,000.

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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