Zacks Investment Research upgraded shares of SilverBow Resources Inc. (NYSE:SBOW) from a sell rating to a hold rating in a research report released on Friday morning.
According to Zacks, “SilverBow Resources, Inc. engages in the exploration, development and production of oil and natural gas properties. Its primarily project includes the Eagle Ford wells, Burr Ferry, South Bearhead Creek and Lake Washington fields. SilverBow Resources, Inc. is headquartered in Houston, TX. “
A number of other analysts have also issued reports on the stock. BidaskClub lowered shares of SilverBow Resources from a sell rating to a strong sell rating in a research note on Tuesday. Stephens assumed coverage on shares of SilverBow Resources in a research note on Friday, September 29th. They set an overweight rating and a $28.00 price objective on the stock. Northland Securities assumed coverage on shares of SilverBow Resources in a research note on Thursday, September 28th. They set an outperform rating and a $42.00 price objective on the stock. Finally, Seaport Global Securities initiated coverage on shares of SilverBow Resources in a research note on Tuesday, August 1st. They set a neutral rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. SilverBow Resources currently has an average rating of Hold and an average price target of $31.67.
SilverBow Resources (NYSE SBOW) traded down $0.30 on Friday, hitting $23.43. 36,700 shares of the stock were exchanged, compared to its average volume of 24,866. SilverBow Resources has a 12 month low of $19.89 and a 12 month high of $35.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.44 and a current ratio of 0.55.
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In related news, CEO Sean C. Woolverton purchased 1,043 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was acquired at an average price of $24.29 per share, with a total value of $25,334.47. Following the completion of the transaction, the chief executive officer now owns 64,847 shares of the company’s stock, valued at $1,575,133.63. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sean C. Woolverton purchased 1,119 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were bought at an average cost of $22.86 per share, with a total value of $25,580.34. The disclosure for this purchase can be found here. Insiders have bought 5,554 shares of company stock valued at $127,536 in the last three months.
Several hedge funds have recently added to or reduced their stakes in SBOW. Matlinpatterson Global Advisers LLC acquired a new stake in shares of SilverBow Resources during the second quarter worth approximately $9,405,000. Spark Investment Management LLC acquired a new position in SilverBow Resources in the second quarter worth $279,000. Kornitzer Capital Management Inc. KS acquired a new position in SilverBow Resources in the second quarter worth $862,000. Schwab Charles Investment Management Inc. acquired a new position in SilverBow Resources in the second quarter worth $309,000. Finally, SG Americas Securities LLC acquired a new position in SilverBow Resources in the second quarter worth $148,000. 30.07% of the stock is owned by institutional investors and hedge funds.
SilverBow Resources Company Profile
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