Brokerages Set SilverBow Resources, Inc. (NYSE:SBOW) PT at $45.33

Shares of SilverBow Resources, Inc. (NYSE:SBOW) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $45.33.

Several brokerages recently commented on SBOW. Mizuho downgraded shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Truist Financial boosted their price objective on shares of SilverBow Resources from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th.

SilverBow Resources Stock Up 0.3 %

SBOW opened at $38.32 on Friday. SilverBow Resources has a 12 month low of $25.19 and a 12 month high of $43.95. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $37.16 and its 200-day moving average price is $32.42. The company has a market cap of $978.69 million, a P/E ratio of 5.18 and a beta of 2.58.

SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.09 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 for the quarter, compared to analysts’ expectations of $272.27 million. During the same period in the previous year, the firm earned $0.95 EPS. On average, equities analysts expect that SilverBow Resources will post 8.64 EPS for the current year.

Insider Buying and Selling at SilverBow Resources

In other news, major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of SilverBow Resources stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $37.00, for a total transaction of $77,700,000.00. Following the sale, the insider now owns 1,181,356 shares of the company’s stock, valued at approximately $43,710,172. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new position in SilverBow Resources during the third quarter valued at $3,391,000. Lazard Asset Management LLC increased its stake in shares of SilverBow Resources by 4,345.5% during the third quarter. Lazard Asset Management LLC now owns 46,589 shares of the company’s stock valued at $1,665,000 after purchasing an additional 45,541 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of SilverBow Resources during the third quarter valued at approximately $294,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of SilverBow Resources during the third quarter valued at approximately $4,769,000. Finally, Tudor Investment Corp Et Al boosted its position in shares of SilverBow Resources by 45.9% in the 3rd quarter. Tudor Investment Corp Et Al now owns 71,071 shares of the company’s stock worth $2,542,000 after purchasing an additional 22,350 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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.