Synergy Resources (NYSEMKT:SYRG) Receives a Downgrade
The Equity Rating of Synergy Resources (NYSEMKT:SYRG) rating was downgraded by research professionals at Scotia Howard Weil from the previous “Sector Outperform” rating to a “Sector Perform” rating in a recent report announced on Monday, 14 December.
From a total of 20 analysts covering Synergy Resources (NYSEMKT:SYRG) stock, 20 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 91% of the ratings are positive. The highest target price is $16 while the lowest target price is $9. The mean of all analyst targets is $13.7 with a 35.18% above today’s ($10.12) stock price. Synergy Resources was the topic of 15 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. KLR Group downgraded shares on November 19 to “Accumulate” rating. Imperial Capital maintained shares with “Outperform” rating and $14.0 target share price in a report from a September 16. TH Capital maintained SYRG stock in a recent report from October 19 with “Buy” rating. Cowen & Co downgraded the rating on September 8. Cowen & Co has a “Market Perform” rating and a $9 price target on shares. Finally, JP Morgan initiated the stock with “Overweight” rating in a report issued on an October 13.
Approximately 921,111 shares of stock traded hands. Synergy Resources Corp (NYSEMKT:SYRG) has declined 11.32% since May 11, 2015 and is downtrending. It has underperformed by 6.90% the S&P500.
The overall sentiment of institutions has increased to 1.49 in Q2 2015. Its up 0.21, from 1.28 in 2015Q2. The ratio increased, as 28 institutions have sold all the shares of Synergy Resources Corp that they owned while 45 funds have taken shares off the table. 24 funds have purchased shares for the first time while 85 added to their positions. These institutions now hold 89.58 million shares or 4.96% more than the 85.35 million shares they owned in 2015Q2.
The Fund Geosphere Capital Management currently is holding shares equating to 5.55% of its total portfolio in Synergy Resources Corp representing a total of 207,500 shares. Another fund,Talara Capital Management Llc, is holding a total of 897,647 shares equating to 5.45% of their holdings. Additionally, Outfitter Advisors Ltd. has a 665,000 share stake in Synergy Resources Corp which represents 2.82% of their total portfolio. The Fund, Consolidated Investment Group Llc, based out of Colorado, has also built up a stake in the stock, which represents a total of 1.58% of their total portfolio. Finally Rr Advisors Llc, a fund which is based in the state of Texas reported a total holdings of 853,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 7, 2015, shareholders of Synergy Resources Corp have witnessed 0 insider purchases, and a total of 1 insider sale equating to a net activity of approximately $51,050 . Dunn Valerie Sue sold 5,000 shares worth approximately $51,050. Noffsinger Robert W Iii sold 100,000 shares worth approximately $1.15M. Rasmuson Craig Duane sold 10,000 shares worth approximately $121,900.
Synergy Resources Corporation is a shell company. The company has a market cap of $1.09 billion. The Firm is an oil and natural gas company. It has 41.95 P/E ratio. The Firm is engaged in the acquisition, development and production of natural gas and crude oil in and around the Denver-Julesburg Basin of Colorado.
According to Zacks Investment Research, “Synergy Resources Corporation operates as an oil and natural gas company engaged in the exploration and production of oil and natural gas in the Denver-Julesburg Basin. Synergy Resources Corporation has its corporate offices located in Platteville, Colorado.”