Synergy Resources Corp (SYRG) Trading 2.7% Higher After Insider Buying Activity
Synergy Resources Corp (NASDAQ:SYRG)’s share price was up 2.7% during trading on Friday after an insider bought additional shares in the company. The company traded as high as $6.89 and last traded at $6.85, with a volume of 2,594,924 shares changing hands. The stock had previously closed at $6.67.
Specifically, CEO Lynn A. Peterson bought 49,071 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were acquired at an average price of $6.00 per share, with a total value of $294,426.00. Following the acquisition, the chief executive officer now owns 489,367 shares of the company’s stock, valued at approximately $2,936,202. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel E. Kelly bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were purchased at an average cost of $6.49 per share, for a total transaction of $97,350.00. Following the acquisition, the director now directly owns 31,272 shares in the company, valued at approximately $202,955.28. The disclosure for this purchase can be found here.
A number of analysts recently weighed in on SYRG shares. Citigroup Inc. set a $8.50 target price on shares of Synergy Resources Corp and gave the stock a “buy” rating in a report on Monday, September 12th. RBC Capital Markets started coverage on shares of Synergy Resources Corp in a report on Tuesday, September 27th. They set an “outperform” rating and a $9.00 target price on the stock. Royal Bank Of Canada started coverage on shares of Synergy Resources Corp in a research note on Tuesday, September 27th. They issued an “outperform” rating and a $9.00 price target for the company. Zacks Investment Research cut shares of Synergy Resources Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Piper Jaffray Cos. started coverage on shares of Synergy Resources Corp in a research note on Thursday, June 23rd. They issued an “overweight” rating for the company. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $8.46.
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The stock’s 50 day moving average price is $6.62 and its 200 day moving average price is $6.75. The firm’s market capitalization is $1.38 billion.
Synergy Resources Corp (NASDAQ:SYRG) last released 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 had revenue of $23.90 million for the quarter, compared to the consensus estimate of $24.90 million. During the same quarter last year, the firm posted ($0.02) EPS. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. Equities analysts forecast that Synergy Resources Corp will post ($0.08) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in SYRG. American Century Companies Inc. purchased a new stake in Synergy Resources Corp during the second quarter worth approximately $2,352,000. Stoneridge Investment Partners LLC purchased a new stake in Synergy Resources Corp during the second quarter worth approximately $482,000. Louisiana State Employees Retirement System boosted its stake in Synergy Resources Corp by 68.9% in the second quarter. Louisiana State Employees Retirement System now owns 85,800 shares of the company’s stock worth $571,000 after buying an additional 35,000 shares during the last quarter. Bank of Montreal Can purchased a new stake in Synergy Resources Corp during the second quarter worth approximately $513,000. Finally, Parkwood LLC purchased a new stake in Synergy Resources Corp during the second quarter worth approximately $897,000.
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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