SilverBow Resources, Inc. (NYSE:SBOW) Receives $44.50 Average PT from Analysts

Shares of SilverBow Resources, Inc. (NYSE:SBOW) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $44.50.

A number of research firms have recently issued reports on SBOW. TheStreet upgraded SilverBow Resources from a “c” rating to a “b-” rating in a research report on Wednesday, February 28th. Truist Financial dropped their price objective on SilverBow Resources from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Roth Mkm initiated coverage on shares of SilverBow Resources in a research note on Monday, February 12th. They set a “buy” rating and a $41.00 target price for the company. KeyCorp downgraded shares of SilverBow Resources from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 11th. Finally, Mizuho reiterated a “buy” rating and set a $42.00 price target on shares of SilverBow Resources in a research report on Friday, April 5th.

SilverBow Resources Stock Performance

Shares of SBOW opened at $32.03 on Tuesday. The firm has a market cap of $817.41 million, a PE ratio of 2.63 and a beta of 2.46. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.99. The stock has a fifty day moving average price of $31.88 and a 200-day moving average price of $30.76. SilverBow Resources has a 12 month low of $21.08 and a 12 month high of $43.95.

SilverBow Resources (NYSE:SBOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.89). The company had revenue of $212.04 million for the quarter, compared to analysts’ expectations of $231.43 million. SilverBow Resources had a net margin of 45.64% and a return on equity of 14.50%. Equities research analysts predict that SilverBow Resources will post 8.37 earnings per share for the current fiscal year.

Institutional Trading of SilverBow Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBOW. Kore Advisors LP acquired a new position in SilverBow Resources in the 4th quarter valued at approximately $9,366,000. Goldman Sachs Group Inc. lifted its holdings in shares of SilverBow Resources by 108.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 582,373 shares of the company’s stock worth $16,935,000 after acquiring an additional 302,413 shares during the period. Wellington Management Group LLP acquired a new stake in shares of SilverBow Resources during the 3rd quarter worth about $7,659,000. Assenagon Asset Management S.A. increased its position in shares of SilverBow Resources by 120.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 280,240 shares of the company’s stock worth $8,149,000 after purchasing an additional 152,987 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of SilverBow Resources by 18.7% during the 3rd quarter. Vanguard Group Inc. now owns 909,694 shares of the company’s stock worth $32,540,000 after purchasing an additional 143,071 shares in the last quarter. 91.83% of the stock is owned by institutional investors and hedge funds.

About SilverBow Resources

SilverBow Resources, Inc, an independent oil and gas company, exploration, develops, acquires, and operates oil and natural gas properties in the Eagle Ford shale and Austin Chalk located in South Texas. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.