Synergy Resources Corp (SYRG) Stock Rating Upgraded by Zacks Investment Research
Synergy Resources Corp (NASDAQ:SYRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage currently has a $9.75 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.94% from the stock’s previous close.
According to Zacks, “Synergy Resources Corporation operates as an oil and natural gas company engaged in the exploration and production of oil and natural gas in the Denver-Julesburg Basin. Synergy Resources Corporation has its corporate offices located in Platteville, Colorado. “
A number of other equities analysts also recently commented on SYRG. RBC Capital Markets restated a “buy” rating and issued a $12.00 target price on shares of Synergy Resources Corp in a research note on Tuesday, January 3rd. BMO Capital Markets reiterated a “hold” rating and set a $10.00 price objective on shares of Synergy Resources Corp in a research report on Wednesday. Credit Suisse Group began coverage on Synergy Resources Corp in a research report on Wednesday, September 21st. They set an “outperform” rating and a $9.00 price objective for the company. Canaccord Genuity set a $8.00 price objective on Synergy Resources Corp and gave the stock a “hold” rating in a research report on Thursday. Finally, Citigroup Inc. downgraded Synergy Resources Corp from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 4th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $9.59.
Synergy Resources Corp (NASDAQ:SYRG) opened at 8.71 on Friday. The stock’s market capitalization is $1.75 billion. The company has a 50-day moving average price of $9.17 and a 200 day moving average price of $7.46. Synergy Resources Corp has a 1-year low of $5.01 and a 1-year high of $10.38.
Synergy Resources Corp (NASDAQ:SYRG) last issued its earnings results on Thursday, November 3rd. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The company earned $26.20 million during the quarter, compared to analyst estimates of $26.70 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was down 21.6% on a year-over-year basis. On average, equities analysts predict that Synergy Resources Corp will post ($0.05) EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL bought a new position in Synergy Resources Corp during the second quarter valued at approximately $119,000. Geduld E E bought a new position in Synergy Resources Corp during the third quarter valued at approximately $139,000. CSS LLC IL boosted its position in Synergy Resources Corp by 50.0% in the third quarter. CSS LLC IL now owns 21,000 shares of the company’s stock valued at $146,000 after buying an additional 7,000 shares in the last quarter. Amalgamated Bank boosted its position in 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Synergy Resources Corp by 167.2% in the second quarter. Tower Research Capital LLC TRC now owns 24,558 shares of the company’s stock valued at $163,000 after buying an additional 15,368 shares in the last quarter.
About Synergy Resources Corp
Synergy Resources Corporation is an independent 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 generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.
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