Los Angeles Capital Management & Equity Research Inc. Takes Position in Synergy Resources Corp (SYRG)
Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Synergy Resources Corp (NASDAQ:SYRG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 111,945 shares of the company’s stock, valued at approximately $746,000. Los Angeles Capital Management & Equity Research Inc. owned about 0.08% of Synergy Resources Corp as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cadence Capital Management LLC bought a new position in Synergy Resources Corp during the second quarter worth $1,011,000. William Harris Investors Inc. raised its position in shares of Synergy Resources Corp by 47.9% in the second quarter. William Harris Investors Inc. now owns 798,380 shares of the company’s stock valued at $5,317,000 after buying an additional 258,700 shares during the last quarter. Isthmus Partners LLC raised its position in shares of Synergy Resources Corp by 3.1% in the second quarter. Isthmus Partners LLC now owns 58,523 shares of the company’s stock valued at $390,000 after buying an additional 1,781 shares during the last quarter. Princeton Alpha Management LP acquired a new position in shares of Synergy Resources Corp during the second quarter valued at approximately $244,000. Finally, Boston Partners acquired a new position in shares of Synergy Resources Corp during the second quarter valued at approximately $11,048,000.
Shares of Synergy Resources Corp (NASDAQ:SYRG) traded down 2.63% during mid-day trading on Tuesday, reaching $5.92. The company’s stock had a trading volume of 2,781,908 shares. Synergy Resources Corp has a 12-month low of $5.01 and a 12-month high of $12.24. The company’s 50-day moving average price is $6.66 and its 200-day moving average price is $6.88. The stock’s market capitalization is $1.19 billion.
Synergy Resources Corp (NASDAQ:SYRG) last posted its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.04. The business earned $23.90 million during the quarter, compared to the consensus estimate of $24.90 million. During the same quarter last year, the company posted ($0.02) earnings per share. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, equities research analysts forecast that Synergy Resources Corp will post ($0.08) earnings per share for the current fiscal year.
Several research analysts have recently commented on SYRG shares. Citigroup Inc. set a $8.50 price objective on Synergy Resources Corp and gave the stock a “buy” rating in a report on Monday, September 12th. Zacks Investment Research lowered Synergy Resources Corp from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Piper Jaffray Cos. started coverage on Synergy Resources Corp in a report on Thursday, June 23rd. They set an “overweight” rating for the company. Canaccord Genuity reissued a “hold” rating and set a $7.50 price objective on shares of Synergy Resources Corp in a report on Friday, July 29th. Finally, KLR Group reissued a “buy” rating and set a $9.00 price objective (up previously from $8.00) on shares of Synergy Resources Corp in a report on Tuesday, August 30th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $8.28.
About Synergy Resources Corp
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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