Analysts expect that SilverBow Resources (NYSE:SBOW) will post sales of $52.23 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for SilverBow Resources’ earnings, with estimates ranging from $50.00 million to $54.60 million. SilverBow Resources reported sales of $53.21 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.8%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, May 8th.
According to Zacks, analysts expect that SilverBow Resources will report full year sales of $230.60 million for the current financial year, with estimates ranging from $223.00 million to $239.10 million. For the next fiscal year, analysts expect that the firm will report sales of $315.60 million per share, with estimates ranging from $294.00 million to $338.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for SilverBow Resources.
SilverBow Resources (NYSE:SBOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.51. The firm had revenue of $58.69 million during the quarter, compared to the consensus estimate of $51.85 million. SilverBow Resources had a return on equity of 43.37% and a net margin of 34.82%.
Several equities research analysts recently issued reports on SBOW shares. SunTrust Banks started coverage on SilverBow Resources in a report on Tuesday, April 10th. They set a “buy” rating and a $37.00 price target for the company. ValuEngine downgraded SilverBow Resources from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Zacks Investment Research upgraded SilverBow Resources from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $33.40.
Shares of NYSE SBOW traded up $0.34 during midday trading on Wednesday, hitting $33.26. 15,889 shares of the stock traded hands, compared to its average volume of 27,438. The company has a market cap of $381.87 and a price-to-earnings ratio of 5.47. SilverBow Resources has a one year low of $19.89 and a one year high of $34.76. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.37.
In related news, insider Sean C. Woolverton acquired 898 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $28.11 per share, with a total value of $25,242.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marcus C. Rowland sold 7,938 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $28.74, for a total value of $228,138.12. The disclosure for this sale can be found here. Insiders have bought a total of 3,380 shares of company stock worth $98,289 in the last ninety days. Insiders own 2.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SBOW. State Street Corp purchased a new stake in SilverBow Resources during the 2nd quarter worth about $1,834,000. The Manufacturers Life Insurance Company purchased a new stake in SilverBow Resources during the 2nd quarter worth about $157,000. California State Teachers Retirement System purchased a new stake in SilverBow Resources during the 2nd quarter worth about $337,000. Wells Fargo & Company MN lifted its holdings in SilverBow Resources by 2.3% during the 3rd quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock worth $7,178,000 after purchasing an additional 6,628 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in SilverBow Resources during the 3rd quarter worth about $394,000. 67.09% of the stock is currently owned by institutional investors and hedge funds.
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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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