SilverBow Resources (NYSE:SBOW) COO Steven W. Adam bought 617 shares of the company’s stock in a transaction that occurred on Thursday, April 5th. The stock was bought at an average price of $29.39 per share, with a total value of $18,133.63. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
SBOW stock traded up $0.40 during midday trading on Friday, hitting $30.00. The company’s stock had a trading volume of 28,169 shares, compared to its average volume of 33,338. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.37. SilverBow Resources has a 52-week low of $19.89 and a 52-week high of $33.21. The stock has a market capitalization of $343.36 and a PE ratio of 4.85.
A number of hedge funds have recently modified their holdings of the business. Strategic Value Partners LLC purchased a new position in SilverBow Resources in the 4th quarter valued at approximately $133,040,000. Pentwater Capital Management LP boosted its position in SilverBow Resources by 48.7% in the 4th quarter. Pentwater Capital Management LP now owns 805,223 shares of the company’s stock valued at $23,931,000 after buying an additional 263,555 shares during the period. Wells Fargo & Company MN boosted its position in SilverBow Resources by 2.3% in the 3rd quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock valued at $7,178,000 after buying an additional 6,628 shares during the period. Bank of New York Mellon Corp boosted its position in SilverBow Resources by 269.1% in the 4th quarter. Bank of New York Mellon Corp now owns 84,634 shares of the company’s stock valued at $2,516,000 after buying an additional 61,706 shares during the period. Finally, State Street Corp purchased a new position in SilverBow Resources in the 2nd quarter valued at approximately $1,834,000. 67.03% of the stock is owned by institutional investors.
SBOW has been the subject of several research reports. Seaport Global Securities upgraded shares of SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, December 19th. Zacks Investment Research cut shares of SilverBow Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Finally, ValuEngine raised shares of SilverBow Resources from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. SilverBow Resources currently has an average rating of “Hold” and a consensus price target of $32.50.
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About SilverBow Resources
SilverBow Resources, Inc, an energy company, engages in the exploration, development, and production of oil and gas from the Eagle Ford Shale in South Texas. As of December 31, 2017, it had proved reserves of 1.0 trillion cubic feet equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.
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