RBC Capital Initiates Coverage on Synergy Resources Corp to Outperform

RBC Capital Initiates Coverage on Synergy Resources Corp(NYSEMKT:SYRG). The shares have been rated Outperform. The rating by RBC Capital was issued on Sep 27, 2016.

In a different note, Credit Suisse said it Initiates Coverage on Synergy Resources Corp, according to a research note issued on Sep 21, 2016. The shares have been rated ‘Outperform’ by the firm. On Sep 12, 2016, Citigroup said it Maintains its rating on Synergy Resources Corp. In the research note, the firm Raises the price-target to $7.50 per share. The shares have been rated ‘Buy’ by the firm. On Aug 30, 2016, Raymond James said it Maintains its rating on Synergy Resources Corp. In the research note, the firm Raises the price-target to $0.34 per share. The shares have been rated ‘Buy’ by the firm. On Aug 11, 2016, Citigroup said it Maintains its rating on Synergy Resources Corp. In the research note, the firm Lowers the price-target to $8.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 8, 2016, BMO Capital said it Downgrades its rating on Synergy Resources Corp. The shares have been rated ‘Market Perform’ by the firm. On Aug 5, 2016, Citigroup said it Maintains its rating on Synergy Resources Corp. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Buy’ by the firm.

Synergy Resources Corp (SYRG) made into the market gainers list on Fridays trading session with the shares advancing 2.21% or 0.15 points. Due to strong positive momentum, the stock ended at $6.93, which is also near the day’s high of $6.99. The stock began the session at $6.85 and the volume stood at 44,57,488 shares. The 52-week high of the shares is $12.24 and the 52 week low is $5.01. The company has a current market capitalization of $1,390 M and it has 20,05,08,800 shares in outstanding.

Synergy Resources Corp(SYRG) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $23.95M. Analysts had an estimated revenue of $26.01M. Earnings per share were $-0.06. Analysts had estimated an EPS of $-0.01.

Several Insider Transactions has been reported to the SEC. On Sep 22, 2016, Michael Eberhard (COO) purchased 15,000 shares at $6.11 per share price.Also, On Sep 22, 2016, Cathleen M Osborn (Vice President/General Counsel) purchased 2,000 shares at $6.01 per share price.On Sep 22, 2016, James P Henderson (CFO) purchased 50,000 shares at $5.95 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.

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