SilverBow Resources, Inc. (NYSE:SBOW) Given Average Recommendation of “Hold” by Brokerages

SilverBow Resources, Inc. (NYSE:SBOW) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $45.33.

Several equities research analysts have commented on the stock. Truist Financial boosted their target price on shares of SilverBow Resources from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Mizuho downgraded shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th.

Insider Activity

In related news, major shareholder Kimmeridge Energy Management C sold 2,100,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $37.00, for a total value of $77,700,000.00. Following the sale, the insider now directly owns 1,181,356 shares of the company’s stock, valued at approximately $43,710,172. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBOW. Boston Partners purchased a new position in SilverBow Resources during the first quarter worth $749,000. California State Teachers Retirement System boosted its stake in shares of SilverBow Resources by 7.5% during the first quarter. California State Teachers Retirement System now owns 18,355 shares of the company’s stock valued at $627,000 after acquiring an additional 1,275 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in SilverBow Resources during the 1st quarter worth about $214,000. Caxton Associates LP acquired a new position in SilverBow Resources in the 1st quarter valued at about $754,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in SilverBow Resources in the 1st quarter valued at about $227,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

SilverBow Resources Price Performance

SilverBow Resources stock 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 stock has a market capitalization of $978.69 million, a PE ratio of 5.18 and a beta of 2.58. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.63 and a quick ratio of 0.63. The business has a 50 day simple moving average of $37.16 and a 200-day simple moving average of $32.42.

SilverBow Resources (NYSE:SBOW) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.09 earnings per share for the quarter, beating 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 period in the previous year, the business earned $0.95 earnings per share. Equities analysts predict that SilverBow Resources will post 8.64 earnings per share for the current 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.