Scotiabank Lowers Southwestern Energy (NYSE:SWN) Price Target to $9.00

Southwestern Energy (NYSE:SWN) had its price target decreased by investment analysts at Scotiabank from $9.50 to $9.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the energy company’s stock. Scotiabank’s price target would suggest a potential upside of 41.96% from the stock’s previous close.

A number of other research firms have also recently weighed in on SWN. Stifel Nicolaus upped their price target on shares of Southwestern Energy from $6.60 to $7.60 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Piper Sandler lowered their target price on shares of Southwestern Energy from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Wolfe Research began coverage on shares of Southwestern Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Susquehanna dropped their price objective on Southwestern Energy from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Monday. Finally, Mizuho boosted their target price on Southwestern Energy from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.27.

Southwestern Energy Stock Performance

Shares of NYSE:SWN traded down $0.02 during trading on Tuesday, reaching $6.34. The company had a trading volume of 957,898 shares, compared to its average volume of 16,985,369. Southwestern Energy has a fifty-two week low of $5.85 and a fifty-two week high of $7.80. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.53 and a quick ratio of 0.53. The stock’s fifty day moving average price is $6.62 and its 200 day moving average price is $6.99. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -3.65 and a beta of 1.17.

Southwestern Energy (NYSE:SWN) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Southwestern Energy had a negative net margin of 48.91% and a positive return on equity of 10.55%. Southwestern Energy’s revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. As a group, equities research analysts predict that Southwestern Energy will post 0.6 EPS for the current year.

Institutional Trading of Southwestern Energy

A number of hedge funds have recently bought and sold shares of SWN. Dimensional Fund Advisors LP grew its holdings in Southwestern Energy by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 48,926,369 shares of the energy company’s stock valued at $329,276,000 after purchasing an additional 8,741,562 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Southwestern Energy by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,364,192 shares of the energy company’s stock valued at $298,381,000 after purchasing an additional 4,968,002 shares during the last quarter. Millennium Management LLC grew its stake in shares of Southwestern Energy by 97.0% during the 2nd quarter. Millennium Management LLC now owns 24,923,413 shares of the energy company’s stock valued at $167,735,000 after buying an additional 12,270,110 shares during the period. Kopernik Global Investors LLC increased its holdings in shares of Southwestern Energy by 0.7% during the 4th quarter. Kopernik Global Investors LLC now owns 21,007,377 shares of the energy company’s stock worth $137,598,000 after buying an additional 143,007 shares during the last quarter. Finally, Magnetar Financial LLC grew its position in Southwestern Energy by 3,468.3% during the first quarter. Magnetar Financial LLC now owns 12,360,286 shares of the energy company’s stock valued at $93,691,000 after acquiring an additional 12,013,898 shares during the period. Institutional investors and hedge funds own 86.97% of the company’s stock.

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.