SilverBow Resources, Inc. (NYSE:SBOW) Given Average Rating of “Hold” by Brokerages

SilverBow Resources, Inc. (NYSE:SBOW) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $45.33.

SBOW has been the subject of a number of recent research reports. Mizuho cut shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. TheStreet upgraded SilverBow Resources from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. Finally, Truist Financial lifted their price objective on SilverBow Resources from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th.

Hedge Funds Weigh In On SilverBow Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBOW. Thomist Capital Management LP purchased a new position in shares of SilverBow Resources in the first quarter worth $18,129,000. Kore Advisors LP purchased a new position in SilverBow Resources in the 4th quarter worth about $9,366,000. Goldman Sachs Group Inc. lifted its stake in SilverBow Resources by 108.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 582,373 shares of the company’s stock valued at $16,935,000 after acquiring an additional 302,413 shares during the period. Wellington Management Group LLP bought a new position in SilverBow Resources during the 3rd quarter valued at about $7,659,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of SilverBow Resources by 120.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 280,240 shares of the company’s stock valued at $8,149,000 after acquiring an additional 152,987 shares during the last quarter. 91.83% of the stock is owned by institutional investors.

SilverBow Resources Stock Down 0.1 %

SBOW stock opened at $38.10 on Wednesday. The company has a market capitalization of $973.07 million, a price-to-earnings ratio of 5.15 and a beta of 2.52. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.63 and a current ratio of 0.63. The business’s 50 day moving average price is $34.81 and its two-hundred day moving average price is $31.34. SilverBow Resources has a fifty-two week low of $25.19 and a fifty-two week high of $43.95.

SilverBow Resources (NYSE:SBOW) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.25. SilverBow Resources had a return on equity of 16.48% and a net margin of 24.41%. The business had revenue of $256.68 million during the quarter, compared to the consensus estimate of $272.27 million. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, analysts forecast that SilverBow Resources will post 8.64 earnings per share for the current fiscal year.

About SilverBow Resources

SilverBow Resources, Inc, an independent oil and gas company, exploration, develops, acquires, and operates oil and natural gas properties in the Eagle Ford shale and Austin Chalk located in South Texas. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.