Geosphere Capital Management Lowers stake in Synergy Resources Corp (SYRG)

Synergy Resources Corp (SYRG) : Geosphere Capital Management reduced its stake in Synergy Resources Corp by 13.99% during the most recent quarter end. The investment management company now holds a total of 615,000 shares of Synergy Resources Corp which is valued at $5,067,600 after selling 100,000 shares in Synergy Resources Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Synergy Resources Corp makes up approximately 6.85% of Geosphere Capital Management’s portfolio.

Other Hedge Funds, Including , Putnam Investments added SYRG to its portfolio by purchasing 418,135 company shares during the most recent quarter which is valued at $3,445,432. Synergy Resources Corp makes up approx 0.01% of Putnam Investments’s portfolio.Geode Capital Management reduced its stake in SYRG by selling 22,626 shares or 1.7% in the most recent quarter. The Hedge Fund company now holds 1,311,069 shares of SYRG which is valued at $10,383,666. Synergy Resources Corp makes up approx 0.01% of Geode Capital Management’s portfolio.Los Angeles Capital Management Equity Research Inc reduced its stake in SYRG by selling 1,600 shares or 1.43% in the most recent quarter. The Hedge Fund company now holds 110,345 shares of SYRG which is valued at $870,622. Synergy Resources Corp makes up approx 0.01% of Los Angeles Capital Management Equity Research Inc’s portfolio.

Synergy Resources Corp opened for trading at $8.18 and hit $8.305 on the upside on Monday, eventually ending the session at $8.2, with a gain of 0.49% or 0.04 points. The heightened volatility saw the trading volume jump to 36,62,835 shares. Company has a market cap of $1,645 M.

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.

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.

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.

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