Synergy Resources (SRCI) Downgraded by BidaskClub to Hold

Synergy Resources (NASDAQ:SRCI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

Separately, Ifs Securities upgraded Synergy Resources from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Synergy Resources presently has an average rating of “Buy” and an average target price of $9.00.

Shares of SRCI stock opened at $5.46 on Tuesday. Synergy Resources has a 12-month low of $4.01 and a 12-month high of $13.32.

Synergy Resources (NASDAQ:SRCI) last issued its quarterly earnings data on Wednesday, February 20th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $190.34 million during the quarter, compared to the consensus estimate of $186.18 million.

About Synergy Resources

SRC Energy Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Denver-Julesburg Basin of Colorado. As of December 31, 2017, it had net proved oil and natural gas reserves of 69.4 million barrels of oil and condensate, 559.9 billion cubic feet of natural gas, and 64.0 million barrels of natural gas liquids; and operated 551 net producing wells, as well as had 98,600 gross and 88,300 net acres under lease in the Wattenberg Field.

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