Synergy Resources Corp (SYRG) is Upgraded by KLR Group to Buy, Raises Price Target to $ 9

Synergy Resources Corp (SYRG) was Upgraded by KLR Group to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 9 from a previous price target of $7 . Earlier the firm had a rating of “Accumulate ” on the company shares. KLR Group advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on Synergy Resources Corp. Synergy Resources Corp was Initiated by Simmons to “Overweight” on Jun 23, 2016. Synergy Resources Corp was Initiated by Raymond James to “Strong Buy” on Jun 17, 2016. Synergy Resources Corp was Upgraded by Seaport Global Securities to ” Buy” on Jun 7, 2016.

On the company’s financial health, Synergy Resources Corp reported $-0.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.37 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-0.04. The company had revenue of $18.27 million for the quarter, compared to analysts expectations of $22.31 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Synergy Resources Corp (SYRG) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $6.6 and reached the intraday high at $6.65. The bulls started the profit booking and pushed the shares to intraday low of $6.36. The trading session was marked by a volume range of 29,34,938 shares exchanging hands. The 52-week high of the shares is $12.24 and the 52-week low is $5.01. The market cap of the company stands at $967 M and there are 14,86,95,810 shares in public circulation.

In a different news, on May 23, 2016, Robert W Iii Noffsinger (director) sold 50,000 shares at $5.82 per share price. According to the SEC, on Aug 17, 2015, Valerie Sue Dunn (Secretary) sold 5,000 shares at $10.21 per share price. On May 8, 2015, Craig Duane Rasmuson (Chief Operating Officer) sold 10,000 shares at $12.19 per share price, according to the Form-4 filing with the securities and exchange commission.

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. Its drilling and completion activities are focused in the Wattenberg Field an area that covers the western flank of the D-J Basin in Weld County Colorado. It is focused on the horizontal development of the Codell and Niobrara formations. The Company operates over 423 producing wells and participated as non-operators in approximately 159 producing wells. It has approximately 442000 gross and 342000 net acres under lease all of which are located in the greater D-J Basin. Its eastern Colorado mineral assets are located in Yuma and Washington counties.

Synergy Resources Corp

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