Newest Rating: Synergy Resources Corporation (AMEX:SYRG) Hit With Downgrade by KLR Group, Is This a Concern?

November 28, 2016 - By Peter Kolinski

Newest Rating: Synergy Resources Corporation (AMEX:SYRG) Hit With Downgrade by KLR Group, Is This a Concern?

Synergy Resources Corporation (AMEX:SYRG) Downgrade

KLR Group has cut Synergy Resources Corporation (AMEX:SYRG) stock to “Accumulate” in a a report revealed to investors and clients on Monday morning. SYRG’s old rating was “Buy”.

Synergy Resources Corp (NYSEMKT:SYRG) Ratings Coverage

Out of 16 analysts covering Synergy Resources Corporation (AMEX:SYRG), 13 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 81% are positive. $14 is the highest target while $6.50 is the lowest. The $9.43 average target is 12.13% above today’s ($8.41) stock price. Synergy Resources Corporation has been the topic of 19 analyst reports since September 8, 2015 according to StockzIntelligence Inc. On Thursday, June 23 the stock rating was initiated by Simmons & Co with “Overweight”. On Wednesday, April 13 the stock rating was downgraded by Canaccord Genuity to “Hold”. The firm has “Buy” rating given on Thursday, August 11 by Citigroup. The company was upgraded on Tuesday, June 7 by Seaport Global. The rating was downgraded by KLR Group to “Accumulate” on Monday, March 14. The stock has “Market Perform” rating given by Cowen & Co on Tuesday, September 8. The company was maintained on Monday, October 19 by SunTrust. The firm has “Strong Buy” rating given on Friday, June 17 by Raymond James. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, March 8. The rating was upgraded by Cantor Fitzgerald on Friday, May 27 to “Buy”.

About 2.86 million shares traded hands. Synergy Resources Corp (AMEX:SYRG) has risen 17.58% since April 25, 2016 and is uptrending. It has outperformed by 11.56% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 1.35 in Q2 2016. Its down 2.09, from 3.44 in 2016Q1. The ratio fall, as 19 funds sold all Synergy Resources Corp shares owned while 24 reduced positions. 45 funds bought stakes while 103 increased positions. They now own 375.70 million shares or 221.48% more from 116.87 million shares in 2016Q1.

The Maryland-based Proshare Ltd has invested 0% in Synergy Resources Corp (NYSEMKT:SYRG). Deprince Race & Zollo holds 0.01% of its portfolio in Synergy Resources Corp (NYSEMKT:SYRG) for 87,500 shares. Moreover, Ls Inv Advsr Limited Co has 0% invested in Synergy Resources Corp (NYSEMKT:SYRG) for 6,946 shares. Bnp Paribas Arbitrage accumulated 0% or 62,923 shares. Parametric Portfolio Associates Limited Liability Corporation has 0.01% invested in the company for 489,138 shares. Penn Management accumulated 939,711 shares or 0.36% of the stock. Profund Limited Com has 25,465 shares for 0.01% of their US portfolio. Amalgamated Fincl Bank has invested 0.01% of its portfolio in Synergy Resources Corp (NYSEMKT:SYRG). Emerald Advisers Inc Pa last reported 1.12 million shares in the company. Foundry Prns Ltd Liability last reported 28,850 shares in the company. Blackrock Ltd Co reported 90,366 shares or 0% of all its holdings. Legal And General Grp Inc Public Ltd Com accumulated 27,569 shares or 0% of the stock. Pnc Service Grp has 677 shares for 0% of their US portfolio. Outfitter Advsr owns 580,530 shares or 1.65% of their US portfolio. Blackrock Inc owns 49,177 shares or 0% of their US portfolio.

Insider Transactions: Since July 5, 2016, the stock had 6 insider purchases, and 0 selling transactions for $802,476 net activity. Osborn Cathleen M also bought $12,020 worth of Synergy Resources Corp (NYSEMKT:SYRG) on Tuesday, September 20. On Tuesday, September 20 the insider Eberhard Michael bought $91,650. $297,500 worth of Synergy Resources Corp (NYSEMKT:SYRG) shares were bought by Henderson James P. Peterson Lynn A bought 49,071 shares worth $294,426. $97,350 worth of Synergy Resources Corp (NYSEMKT:SYRG) shares were bought by Kelly Daniel E. 1,500 Synergy Resources Corp (NYSEMKT:SYRG) shares with value of $9,530 were bought by Spence Nicholas.

Synergy Resources Corporation is an independent oil and natural gas company. The company has a market cap of $1.69 billion. 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. It currently has negative earnings. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas.

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.”

SYRG Company Profile

Synergy Resources Corporation, incorporated on May 11, 2005, is an independent oil and natural gas company. The Firm is engaged in the acquisition, development and production of natural gas and crude oil in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin generally extends from the Denver metropolitan area throughout northeast Colorado into Wyoming, Nebraska, and Kansas. The D-J Basin contains hydrocarbon-bearing deposits in various formations, including the Niobrara, Codell, Greenhorn, Shannon, Sussex, J-Sand and D-Sand. The Company’s drilling and completion activities are focused in the Wattenberg Field, an area that covers the western flank of the D-J Basin, predominantly in Weld County, Colorado. The Firm is focused on the horizontal development of the Codell and Niobrara formations.

Another recent and important Synergy Resources Corp (NYSEMKT:SYRG) news was published by Prnewswire.com which published an article titled: “Oil & Gas Stocks under Review — Weatherford, Halliburton, Schlumberger, and …” on November 28, 2016.

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