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

SilverBow Resources, Inc. (NYSE:SBOW - Get Free Report) has been assigned a consensus rating of "Hold" from the seven research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $45.33.

Several brokerages recently issued reports on SBOW. Truist Financial raised their target price on shares of SilverBow Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday, May 7th. Mizuho cut shares of SilverBow Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, May 17th.

SilverBow Resources Stock Down 1.4 %

Shares of SBOW traded down $0.53 on Friday, hitting $38.21. 514,194 shares of the stock traded hands, compared to its average volume of 574,842. The company has a market capitalization of $975.88 million, a PE ratio of 5.16 and a beta of 2.58. 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 has a 50 day simple moving average of $36.59 and a 200 day simple moving average of $32.21. SilverBow Resources has a one year low of $25.19 and a one year high of $43.95.

SilverBow Resources (NYSE:SBOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.25. SilverBow Resources had a net margin of 24.41% and a return on equity of 16.48%. The company had revenue of $256.68 million during the quarter, compared to the consensus estimate of $272.27 million. During the same quarter last year, the firm earned $0.95 earnings per share. As a group, equities analysts forecast that SilverBow Resources will post 8.64 earnings per share for the current fiscal year.

Insider Transactions at SilverBow Resources

In other news, major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of SilverBow Resources stock in a transaction 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 owns 1,181,356 shares in the company, valued at approximately $43,710,172. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.00% of the company's stock.

Institutional Trading of SilverBow Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of SilverBow Resources during the 4th quarter valued at $1,404,000. Kore Advisors LP bought a new stake in shares of SilverBow Resources during the 4th quarter valued at $9,366,000. Walleye Capital LLC bought a new stake in SilverBow Resources in the 3rd quarter valued at $1,395,000. HBK Investments L P bought a new stake in SilverBow Resources in the 4th quarter valued at $582,000. Finally, Wellington Management Group LLP bought a new stake in SilverBow Resources in the 3rd quarter valued at $7,659,000. 91.83% of the stock is currently owned by institutional investors.

SilverBow Resources Company Profile

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.