Price Target Update on Synergy Resources Corporation (NYSEMKT:SYRG)

Synergy Resources Corporation (NYSEMKT:SYRG) stock is expected to deviate a maximum of $1.93 from the average target price of $9.39 for the short term period. 16 Street Experts have initiated coverage on the stock with the most promising target being $13 and the most muted being $6.

Other Equity analysts have also commented on the company shares. Raymond James initiates coverage on Synergy Resources Corporation (NYSEMKT:SYRG).The analysts at the brokerage house have a current rating of Strong Buy on the shares. The rating by the firm was issued on June 17, 2016.

Synergy Resources Corporation (NYSEMKT:SYRG): stock turned positive on Thursday. Though the stock opened at $7.22, the bulls momentum made the stock top out at $7.4693 level for the day. The stock recorded a low of $7.17 and closed the trading day at $7.25, in the green by 1.26%. The total traded volume for the day was 3,435,378. The stock had closed at $7.16 in the previous days trading.

The company shares have dropped -41.50% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $12.46 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $6.26 and the 200 Day Moving Average price is recorded at $7.09. On the companys insider trading activities,The director of Synergy Resources Corp, Noffsinger Robert W Iii sold 50,000 shares at $5.82 on May 19, 2016. The Insider selling transaction had a total value worth of $291,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 442,000 gross and 342,000 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.

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