Schonfeld Strategic Advisors LLC acquired a new position in shares of SilverBow Resources, Inc. (NYSE:SBOW) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 22,100 shares of the company’s stock, valued at approximately $87,000.
A number of other hedge funds also recently modified their holdings of SBOW. Bridgeway Capital Management Inc. lifted its position in SilverBow Resources by 224.7% during the second quarter. Bridgeway Capital Management Inc. now owns 246,151 shares of the company’s stock worth $790,000 after acquiring an additional 170,351 shares during the last quarter. IPG Investment Advisors LLC bought a new position in shares of SilverBow Resources during the third quarter worth approximately $379,000. Jane Street Group LLC bought a new position in shares of SilverBow Resources during the second quarter worth approximately $65,000. GWM Advisors LLC bought a new position in shares of SilverBow Resources during the third quarter worth approximately $64,000. Finally, James Investment Research Inc. bought a new position in shares of SilverBow Resources during the third quarter worth approximately $64,000. Hedge funds and other institutional investors own 55.31% of the company’s stock.
Separately, Zacks Investment Research cut shares of SilverBow Resources from a “hold” rating to a “sell” rating in a research note on Thursday, November 5th.
SBOW stock opened at $5.31 on Friday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.40 and a quick ratio of 1.40. The company’s 50-day moving average is $5.62 and its 200-day moving average is $4.52. The stock has a market capitalization of $63.39 million, a PE ratio of -0.23 and a beta of 2.81. SilverBow Resources, Inc. has a 1 year low of $1.50 and a 1 year high of $10.56.
SilverBow Resources (NYSE:SBOW) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.58) EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($1.28). SilverBow Resources had a negative net margin of 126.28% and a negative return on equity of 2.61%. The firm had revenue of $45.70 million during the quarter, compared to analyst estimates of $51.35 million. On average, analysts anticipate that SilverBow Resources, Inc. will post 3.05 earnings per share for the current fiscal year.
SilverBow Resources 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, 2019, it had proved reserves of 1,420 billion cubic feet of natural gas equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.
Further Reading: Price to Earnings Ratio (PE) Basics
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