Synergy Resources Corp (SYRG) Releases Earnings Results, Misses Expectations By $-0.04 EPS

Synergy Resources Corp (SYRG) reported quarterly earnings results on Thursday, Aug-4-2016. The company reported $-0.06 earnings per share for the quarter, missing the analyst consensus estimate by $-0.04. Analysts had a consensus of $-0.02. The company posted revenue of $23.90 million in the period, compared to analysts expectations of $24.70 million. The company’s revenue was down -15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.02 EPS.

Many Wall Street Analysts have commented on Synergy Resources Corp. Imperial Capital Downgraded Synergy Resources Corp on Aug 2, 2016 to ” In-line”, Price Target of the shares are set at $6.50.Company shares were Upgraded by KLR Group on Jul 18, 2016 to ” Buy”, Firm has raised the Price Target to $ 9 from a previous price target of $7 .Synergy Resources Corp was Initiated by Simmons to “Overweight” on Jun 23, 2016.

Synergy Resources Corp closed down -0.05 points or -0.78% at $6.32 with 41,28,704 shares getting traded on Tusday. Post opening the session at $6.34, the shares hit an intraday low of $6.2 and an intraday high of $6.41 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

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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