Renaissance Technologies LLC Trims Holdings in Southwestern Energy (NYSE:SWN)

Renaissance Technologies LLC cut its stake in Southwestern Energy (NYSE:SWN) by 19.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,374,625 shares of the energy company’s stock after selling 3,003,956 shares during the quarter. Renaissance Technologies LLC’s holdings in Southwestern Energy were worth $83,281,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Southwestern Energy in the first quarter valued at $25,000. Pingora Partners LLC purchased a new position in shares of Southwestern Energy in the fourth quarter valued at $30,000. Larson Financial Group LLC grew its position in shares of Southwestern Energy by 4,752.1% in the second quarter. Larson Financial Group LLC now owns 5,871 shares of the energy company’s stock valued at $40,000 after purchasing an additional 5,750 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Southwestern Energy in the first quarter valued at $43,000. Finally, Choreo LLC purchased a new position in shares of Southwestern Energy in the second quarter valued at $69,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SWN has been the subject of several recent analyst reports. Wolfe Research initiated coverage on Southwestern Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler cut their price objective on Southwestern Energy from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. StockNews.com started coverage on Southwestern Energy in a report on Wednesday, September 11th. They issued a “sell” rating for the company. Susquehanna cut their price objective on Southwestern Energy from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Monday, August 19th. Finally, Scotiabank cut their price objective on Southwestern Energy from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.50.

Southwestern Energy Stock Performance

NYSE SWN opened at $6.26 on Tuesday. The stock has a 50-day moving average of $6.36 and a 200-day moving average of $6.93. The firm has a market cap of $6.90 billion, a PE ratio of -3.60 and a beta of 1.12. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.01. Southwestern Energy has a 1-year low of $5.85 and a 1-year high of $7.80.

Southwestern Energy (NYSE:SWN) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.12 billion. Southwestern Energy had a positive return on equity of 10.55% and a negative net margin of 48.91%. Southwestern Energy’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. As a group, sell-side analysts forecast that Southwestern Energy will post 0.61 EPS for the current year.

About Southwestern Energy

Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs) in the United States. It operates through two segments, Exploration and Production, and Marketing. The company focuses on the development of unconventional natural gas and oil reservoirs located in Pennsylvania, West Virginia, Ohio, and Louisiana.