Wall Street brokerages expect that SilverBow Resources, Inc. (NYSE:SBOW) will report sales of $52.50 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for SilverBow Resources’ earnings, with the lowest sales estimate coming in at $52.10 million and the highest estimate coming in at $52.90 million. SilverBow Resources posted sales of $53.21 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.3%. The firm is scheduled to report its next quarterly earnings results on Monday, May 14th.
According to Zacks, analysts expect that SilverBow Resources will report full year sales of $52.50 million for the current year, with estimates ranging from $229.70 million to $231.20 million. For the next year, analysts forecast that the firm will report sales of $314.40 million per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow SilverBow Resources.
Several research analysts have recently weighed in on SBOW shares. Seaport Global Securities raised SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, December 19th. Zacks Investment Research cut SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $32.50.
In related news, insider Sean C. Woolverton purchased 898 shares of SilverBow Resources stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $28.11 per share, with a total value of $25,242.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean C. Woolverton purchased 1,102 shares of SilverBow Resources stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average cost of $23.54 per share, with a total value of $25,941.08. The disclosure for this purchase can be found here. Insiders have purchased 5,220 shares of company stock valued at $148,342 over the last three months.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in SilverBow Resources during the fourth quarter valued at approximately $109,000. Nationwide Fund Advisors acquired a new position in SilverBow Resources during the second quarter valued at approximately $104,000. Bank of Montreal Can acquired a new position in SilverBow Resources during the fourth quarter valued at approximately $158,000. The Manufacturers Life Insurance Company boosted its position in SilverBow Resources by 239.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,937 shares of the company’s stock valued at $176,000 after purchasing an additional 4,190 shares during the last quarter. Finally, California Public Employees Retirement System acquired a new position in SilverBow Resources during the fourth quarter valued at approximately $211,000. 67.03% of the stock is owned by hedge funds and other institutional investors.
SilverBow Resources (NYSE SBOW) opened at $29.30 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $339.53 and a PE ratio of 4.67. SilverBow Resources has a 52-week low of $19.89 and a 52-week high of $33.21.
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SilverBow Resources Company Profile
SilverBow Resources is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. With almost 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which they leverage to assemble drilling inventory.
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