SilverBow Resources (NYSE:SBOW) announced its quarterly earnings results on Tuesday. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.64), Morningstar.com reports. The company had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $61.10 million. SilverBow Resources had a net margin of 23.04% and a return on equity of 24.31%.
SBOW traded up $0.55 during midday trading on Wednesday, reaching $26.82. The company’s stock had a trading volume of 65,100 shares, compared to its average volume of 28,043. The stock has a market cap of $300.78 million, a PE ratio of 4.41 and a beta of 0.58. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.33 and a current ratio of 0.33. SilverBow Resources has a 1 year low of $22.05 and a 1 year high of $34.76.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of SilverBow Resources from a “strong sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a report on Thursday, July 12th. ValuEngine cut shares of SilverBow Resources from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Finally, SunTrust Banks cut shares of SilverBow Resources from a “buy” rating to a “hold” rating and cut their price objective for the stock from $37.00 to $30.00 in a report on Monday, September 24th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $29.67.
Several large investors have recently bought and sold shares of SBOW. Dimensional Fund Advisors LP grew its holdings in shares of SilverBow Resources by 115.6% during the first quarter. Dimensional Fund Advisors LP now owns 109,577 shares of the company’s stock valued at $3,189,000 after buying an additional 58,744 shares during the last quarter. BlackRock Inc. grew its holdings in shares of SilverBow Resources by 9.0% during the second quarter. BlackRock Inc. now owns 367,415 shares of the company’s stock valued at $10,610,000 after buying an additional 30,432 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of SilverBow Resources during the third quarter valued at approximately $695,000. Russell Investments Group Ltd. grew its holdings in shares of SilverBow Resources by 935.0% during the first quarter. Russell Investments Group Ltd. now owns 26,590 shares of the company’s stock valued at $773,000 after buying an additional 24,021 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in shares of SilverBow Resources during the second quarter valued at approximately $546,000. Hedge funds and other institutional investors own 81.33% of the company’s stock.
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SilverBow Resources Company Profile
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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