BMO Capital Reiterates a Hold Rating on Synergy Resources

By Ryan Adsit

In a report issued on November 4, Dan McSpirit from BMO Capital reiterated a Hold rating on Synergy Resources (NYSE: SYRG), with a price target of $7. The company’s shares opened today at $7.19.

According to TipRanks.com, McSpirit is a 4-star analyst with an average return of 2.7% and a 53.8% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Rosetta Resources Inc., and Range Resources Corp.

Currently, the analyst consensus on Synergy Resources is Moderate Buy and the average price target is $8.67, representing a 20.6% upside.

In a report issued on November 3, Canaccord Genuity also reiterated a Hold rating on the stock with a $7.50 price target.

The company has a one year high of $12.17 and a one year low of $5.01. Currently, Synergy Resources has an average volume of 5.01M.

Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SYRG in relation to earlier this year.

Synergy Resources Corp. is an oil and natural gas exploration and production company. It engages in the acquisition, development, exploitation, exploration and production of oil and natural gas properties, primarily located in the Wattenberg field in the D-J Basin of northeast Colorado. The company was founded on May 11, 2005 and is headquartered in Denver, CO.