Synergy Resources Corp (SYRG) is Downgraded by Canaccord Genuity to Hold, Lowers Price Target to $ 8.50

Synergy Resources Corp (SYRG) was Downgraded by Canaccord Genuity to ” Hold” while Lowering the Price Target of the company shares to $ 8.50 from a previous price target of $9 . Earlier the firm had a rating of “Buy ” on the company shares. Canaccord Genuity advised their investors in a research report released on Apr 13, 2016.

Many Wall Street Analysts have commented on Synergy Resources Corp. Shares were Downgraded by Canaccord Genuity on Apr 13, 2016 to ” Hold” and Lowered the Price Target to $ 8.50 from a previous price target of $9 .Citigroup Initiated Synergy Resources Corp on Apr 4, 2016 to “Buy”, Price Target of the shares are set at $10.Synergy Resources Corp was Downgraded by KLR Group to ” Accumulate” on Mar 14, 2016.

On the company’s financial health, Synergy Resources Corp reported $-0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jan 7, 2016. Analyst had a consensus of $0.00. The company had revenue of $26.10 million for the quarter, compared to analysts expectations of $30.60 million. The company’s revenue was down -38.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.26 EPS.

Synergy Resources Corp closed down -0.67 points or -7.97% at $7.74 with 1,89,20,441 shares getting traded on Monday. Post opening the session at $7.86, the shares hit an intraday low of $7.56 and an intraday high of $8 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 17, 2015, Valerie Sue Dunn (Secretary) sold 5,000 shares at $10.21 per share price. According to the SEC, on Jun 2, 2015, Robert W Iii Noffsinger (director) sold 100,000 shares at $11.48 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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