Director Rick Wilber added 50,000 shares to his stake costing him $293,000, while Director George Seward added 15,000 shares to his stake, an $88,100 transaction.
For Wilber, this is his third stake increase, aside from purchasing 20,000 shares in both June 2012 and August 2012. Seward’s purchase, on the other hand, makes his 15th buy.
Market capitalized at $332.2 million, Synergy Resources Corp. is a domestic oil and natural gas exploration and production company. Headquartered in Platteville, Colo., the company’s core operations are located in the Denver-Julesburg Basin, which encompasses Colorado, Wyoming, Kansas and Nebraska.
Having served as independent director of Synergy Resources since September 2008, Wilber has been a private investor and consultant to numerous development-stage companies, according to his Reuters profile. He co-founded athletic product retailer, Champs Sporting Goods, and has also served as a director for Ultimate Software Group (ULTI) and Royce Laboratories.
Director Seward has served the company since 2010, according to his Reuters description. He co-founded Prima Energy, which was eventually sold to energy company, Petro-Canada. Currently, Seward serves as the president of Pocito Oil and Gas.
In one year, Synergy’s market value has gone up 103.69 percent.
In November, the company reported its 2012 year-end results. Synergy’s revenue increased 150 percent to $25 million for the full year. This increase was driven by a surge in production, due to the company buying 52 new wells during the year.
Operating income for the full year was $11.8 million, up 317 percent from the $2.8 million in the previous year.
"We had a very successful year achieving all of our stated drilling and completion goals within the Wattenberg," said Ed Holloway, Synergy Resources CEO. "Despite the difficult conditions for part of the year with high line pressure in the Wattenberg and modest commodity price pressure in the fourth quarter, neither within our control, we remain well positioned with our drilling program to grow production in fiscal 2013. We have the capital, access to equipment and talented management to ensure continued growth."
Synergy Resources was included in the Russell l Microcap Index, the Russell 3000 Index and the Russell Global Index on June 25.
With its stock up 1.68 percent this afternoon, Synergy Resources trades at $6.07.
Currently, no Gurus followed by GuruFocus hold stakes in the company.
For more details on Synergy's insiders trades, visit Rick Wilber’s Market Overview and George Seward’s Market Overview.
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