Synergy Resources Corp (SYRG) is Downgraded by KLR Group to Accumulate

Synergy Resources Corp (SYRG) was Downgraded by KLR Group to ” Accumulate”. Earlier the firm had a rating of “Buy ” on the company shares. KLR Group advised their investors in a research report released on Nov 28, 2016.

Many Wall Street Analysts have commented on Synergy Resources Corp. Synergy Resources Corp was Initiated by Wells Fargo to “Outperform” on Oct 25, 2016. RBC Capital Mkts Initiated Synergy Resources Corp on Sep 27, 2016 to “Outperform”, Price Target of the shares are set at $9.Credit Suisse Initiated Synergy Resources Corp on Sep 21, 2016 to “Outperform”, Price Target of the shares are set at $9.

On the company’s financial health, Synergy Resources Corp reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.00. The company had revenue of $26.20 million for the quarter, compared to analysts expectations of $26.07 million. The company’s revenue was down -21.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.05 EPS.

Synergy Resources Corp opened for trading at $8.76 and hit $8.88 on the upside on Friday, eventually ending the session at $8.83, with a gain of 0.23% or 0.02 points. The heightened volatility saw the trading volume jump to 15,42,417 shares. Company has a market cap of $1,771 M.

In a different news, on Oct 6, 2016, Lynn A Peterson (CEO) purchased 49,071 shares at $6.00 per share price. According to the SEC, on Oct 6, 2016, Daniel E Kelly (director) purchased 15,000 shares at $6.49 per share price. On Oct 6, 2016, Nicholas Spence (COO) purchased 1,500 shares at $6.41 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

Leave a Reply

Synergy Resources Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Synergy Resources Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.