Principal Financial Group Inc. increased its stake in Synergy Resources Corp (NASDAQ:SYRG) by 73.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,387,854 shares of the company’s stock after buying an additional 585,453 shares during the period. Principal Financial Group Inc. owned about 0.93% of Synergy Resources Corp worth $9,243,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SYRG. Societe Generale bought a new position in Synergy Resources Corp during the second quarter valued at about $121,000. Pittenger & Anderson Inc. increased its position in Synergy Resources Corp by 27.6% in the second quarter. Pittenger & Anderson Inc. now owns 18,500 shares of the company’s stock valued at $123,000 after buying an additional 4,000 shares during the last quarter. Teacher Retirement System of Texas increased its position in Synergy Resources Corp by 89.4% in the second quarter. Teacher Retirement System of Texas now owns 25,777 shares of the company’s stock valued at $172,000 after buying an additional 12,167 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in Synergy Resources Corp during the second quarter valued at about $209,000. Finally, Princeton Alpha Management LP bought a new position in Synergy Resources Corp during the second quarter valued at about $244,000.
Synergy Resources Corp (NASDAQ:SYRG) opened at 7.08 on Tuesday. The firm’s market capitalization is $1.42 billion. Synergy Resources Corp has a 12 month low of $5.01 and a 12 month high of $12.17. The stock’s 50 day moving average is $6.68 and its 200-day moving average is $6.71.
Synergy Resources Corp (NASDAQ:SYRG) last posted its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $23.90 million for the quarter, compared to the consensus estimate of $24.90 million. The business’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. Equities analysts anticipate that Synergy Resources Corp will post ($0.08) earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the stock. KLR Group restated a “buy” rating and set a $9.00 price objective (up previously from $8.00) on shares of Synergy Resources Corp in a report on Tuesday, August 30th. RBC Capital Markets started coverage on shares of Synergy Resources Corp in a research note on Tuesday, September 27th. They issued an “outperform” rating and a $9.00 target price on the stock. Citigroup Inc. set a $7.50 target price on shares of Synergy Resources Corp and gave the company a “buy” rating in a research note on Thursday, August 11th. Roth Capital reissued a “hold” rating on shares of Synergy Resources Corp in a research note on Tuesday, July 12th. Finally, BMO Capital Markets cut shares of Synergy Resources Corp from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $8.00 to $6.00 in a research note on Monday, August 8th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $8.46.
In other Synergy Resources Corp news, CEO Lynn A. Peterson purchased 49,071 shares of the stock in a transaction that occurred on Thursday, October 6th. The shares were acquired at an average cost of $6.00 per share, with a total value of $294,426.00. Following the completion of the transaction, the chief executive officer now owns 489,367 shares in the company, valued at $2,936,202. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Eberhard purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were acquired at an average cost of $6.11 per share, for a total transaction of $91,650.00. Following the completion of the transaction, the chief operating officer now owns 93,763 shares of the company’s stock, valued at approximately $572,891.93. The disclosure for this purchase can be found here.
About Synergy Resources Corp
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.
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