SilverBow Resources (NYSE:SBOW) shares hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $34.76 and last traded at $33.50, with a volume of 11034 shares traded. The stock had previously closed at $33.13.
Several research firms recently issued reports on SBOW. Zacks Investment Research upgraded shares of SilverBow Resources from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, January 10th. SunTrust Banks began coverage on shares of SilverBow Resources in a research report on Tuesday, April 10th. They set a “buy” rating and a $37.00 price target on the stock. Finally, ValuEngine upgraded shares of SilverBow Resources from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. SilverBow Resources has an average rating of “Buy” and an average price target of $33.40.
The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $370.85 and a PE ratio of 5.51.
SilverBow Resources (NYSE:SBOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.51. The business had revenue of $58.69 million for the quarter, compared to analyst estimates of $51.85 million. SilverBow Resources had a net margin of 34.82% and a return on equity of 43.37%. equities research analysts expect that SilverBow Resources will post 5.84 earnings per share for the current year.
In other SilverBow Resources news, Director Marcus C. Rowland sold 7,938 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $28.74, for a total value of $228,138.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sean C. Woolverton bought 898 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $28.11 per share, for a total transaction of $25,242.78. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,380 shares of company stock worth $98,289 in the last quarter. 2.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Strategic Value Partners LLC acquired a new stake in SilverBow Resources in the fourth quarter valued at approximately $133,040,000. Pentwater Capital Management LP raised its stake in shares of SilverBow Resources by 48.7% during the fourth quarter. Pentwater Capital Management LP now owns 805,223 shares of the company’s stock valued at $23,931,000 after acquiring an additional 263,555 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of SilverBow Resources by 2.3% during the third quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock valued at $7,178,000 after acquiring an additional 6,628 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of SilverBow Resources by 269.1% during the fourth quarter. Bank of New York Mellon Corp now owns 84,634 shares of the company’s stock valued at $2,516,000 after acquiring an additional 61,706 shares during the last quarter. Finally, State Street Corp bought a new position in shares of SilverBow Resources during the second quarter valued at $1,834,000. Hedge funds and other institutional investors own 67.09% of the company’s stock.
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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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