SilverBow Resources, Inc. (NYSE:SBOW) Receives $45.33 Average PT from Brokerages

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

A number of research firms recently weighed in on SBOW. Truist Financial increased their price target on SilverBow Resources from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Mizuho cut shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th.

Insider Buying and Selling

In other news, major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 1,181,356 shares of the company’s stock, valued at $43,710,172. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in SilverBow Resources by 138.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,126 shares of the company’s stock valued at $91,000 after purchasing an additional 1,815 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in SilverBow Resources by 134.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 3,268 shares of the company’s stock valued at $93,000 after purchasing an additional 1,877 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in SilverBow Resources by 33.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,303 shares of the company’s stock valued at $125,000 after purchasing an additional 1,089 shares during the last quarter. ORG Partners LLC grew its holdings in shares of SilverBow Resources by 8,624.0% during the fourth quarter. ORG Partners LLC now owns 4,362 shares of the company’s stock worth $127,000 after purchasing an additional 4,312 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in SilverBow Resources during the 1st quarter worth approximately $214,000. Institutional investors own 91.83% of the company’s stock.

SilverBow Resources Price Performance

Shares of SBOW opened at $38.32 on Friday. 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 company’s fifty day simple moving average is $37.16 and its 200 day simple moving average is $32.42. SilverBow Resources has a 1-year low of $25.19 and a 1-year high of $43.95. The company has a market cap of $978.69 million, a price-to-earnings 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 earnings per share 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 firm had revenue of $256.68 million for the quarter, compared to the consensus estimate of $272.27 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, research 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.