Synergy Resources beats Street 1Q forecasts

Synergy Resources on Friday reported fiscal first-quarter earnings more than tripled to $21.2 million.

The Platteville, Colorado-based company said it had profit of 26 cents per share. Earnings, adjusted for non-recurring gains, came to 12 cents per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The oil and gas company posted revenue of $42.5 million in the period, which also beat Street forecasts. Analysts expected $42.2 million, according to Zacks.

Synergy Resources shares have fallen 2.5 percent since the beginning of the year. The stock has increased 34 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. SYRG stock research report from Zacks.