Shares of Synergy Resources Corp (NASDAQ:SYRG) rose 3.6% during mid-day trading on Wednesday . The stock traded as high as $6.26 and last traded at $6.09, with a volume of 1,542,100 shares. The stock had previously closed at $5.88.

SYRG has been the topic of several recent research reports. Cantor Fitzgerald raised Synergy Resources Corp to a “buy” rating in a report on Sunday, May 29th. Zacks Investment Research upgraded Synergy Resources Corp from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Wednesday, June 15th. Seaport Global Securities upgraded Synergy Resources Corp from an “accumulate” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Tuesday, June 7th. Roth Capital upgraded Synergy Resources Corp from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday, July 28th. Finally, KLR Group upgraded Synergy Resources Corp from an “accumulate” rating to a “buy” rating and raised their target price for the company from $7.00 to $9.00 in a research report on Monday, July 18th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $8.35.

The firm has a 50 day moving average of $6.64 and a 200-day moving average of $6.87. The company’s market capitalization is $1.26 billion.

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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 the consensus estimate of ($0.02) by $0.04. The firm earned $23.90 million during the quarter, compared to analyst estimates of $24.90 million. Synergy Resources Corp’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. On average, equities research analysts anticipate that Synergy Resources Corp will post ($0.08) earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC acquired a new position in shares of Synergy Resources Corp during the second quarter valued at approximately $252,000. Royal Bank of Canada increased its position 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 valued at $14,586,000 after buying an additional 376,965 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position 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 valued at $4,426,000 after buying an additional 274,680 shares during the last quarter. Stifel Financial Corp increased its position 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 valued at $971,000 after buying an additional 127,793 shares during the last quarter. Finally, Amalgamated Bank increased its position 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 valued at $152,000 after buying an additional 9,601 shares during 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.

5 Day Chart for NASDAQ:SYRG

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