The Louisiana State Employees Retirement System invests in Synergy Resources Corp (SYRG) Shares

The Louisiana State Employees Retirement System invests in Synergy Resources Corp (SYRG) Shares

Louisiana State Employees Retirement System increased its position in shares of Synergy Resources Corp (NASDAQ:SYRG) by 68.9% during the second quarter, Holdings Channel reports. The fund owned 85,800 shares of the company’s stock after buying an additional 35,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Synergy Resources Corp were worth $571,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Synergy Resources Corp during the second quarter worth about $513,000. Parkwood LLC bought a new stake in Synergy Resources Corp during the second quarter worth about $897,000. New York State Teachers Retirement System increased its stake in Synergy Resources Corp by 8.1% in the second quarter. New York State Teachers Retirement System now owns 411,774 shares of the company’s stock worth $2,742,000 after buying an additional 30,920 shares during the last quarter. Nikko Asset Management Americas Inc. bought a new stake in Synergy Resources Corp during the second quarter worth about $4,658,000. Finally, LaSalle Street Capital Management LLC increased its stake in Synergy Resources Corp by 102.2% in the second quarter. LaSalle Street Capital Management LLC now owns 74,039 shares of the company’s stock worth $493,000 after buying an additional 37,419 shares during the last quarter.

Synergy Resources Corp (NASDAQ:SYRG) traded up 0.71% during mid-day trading on Monday, reaching $7.08. 3,552,688 shares of the company’s stock traded hands. The company’s market capitalization is $1.42 billion. Synergy Resources Corp has a 52-week low of $5.01 and a 52-week high of $12.17. The company has a 50-day moving average of $6.68 and a 200-day moving average of $6.71.

Synergy Resources Corp (NASDAQ:SYRG) last posted its earnings results on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.04. The business had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $24.90 million. During the same period last year, the business posted ($0.02) EPS. The company’s revenue was down 15.5% compared to the same quarter last year. Equities research analysts expect that Synergy Resources Corp will post ($0.08) EPS for the current year.

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reiterated a “hold” rating and set a $7.00 price target on shares of Synergy Resources Corp in a research report on Friday, September 9th. Simmons assumed coverage on shares of Synergy Resources Corp in a research report on Thursday, June 23rd. They set an “overweight” rating for the company. Piper Jaffray Cos. assumed coverage on shares of Synergy Resources Corp in a research report on Thursday, June 23rd. They set an “overweight” rating for the company. KLR Group reiterated a “buy” rating and set a $9.00 price target (up from $8.00) on shares of Synergy Resources Corp in a research report on Tuesday, August 30th. Finally, Roth Capital restated a “hold” rating on shares of Synergy Resources Corp in a research report on Tuesday, July 12th. Three 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 currently has a consensus rating of “Buy” and a consensus target price of $8.46.

In related news, Director Daniel E. Kelly acquired 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was acquired at an average cost of $6.49 per share, for a total transaction of $97,350.00. Following the completion of the acquisition, the director now directly owns 31,272 shares of the company’s stock, valued at approximately $202,955.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James P. Henderson acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was bought at an average price of $5.95 per share, with a total value of $297,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 179,605 shares of the company’s stock, valued at $1,068,649.75. 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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