SilverBow Resources (SBOW) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of SilverBow Resources (NYSE:SBOW) from a hold rating to a buy rating in a report released on Friday.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut SilverBow Resources from a strong-buy rating to a hold rating in a research note on Wednesday, February 21st. Seaport Global Securities raised SilverBow Resources from a neutral rating to a buy rating and set a $25.00 price objective for the company in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. SilverBow Resources has a consensus rating of Buy and a consensus target price of $32.50.

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Shares of SilverBow Resources (SBOW) traded up $1.35 during trading on Friday, hitting $28.85. The company had a trading volume of 27,699 shares, compared to its average volume of 37,816. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. SilverBow Resources has a twelve month low of $19.89 and a twelve month high of $33.21. The firm has a market capitalization of $319.00 and a PE ratio of 4.60.

In other SilverBow Resources news, insider Sean C. Woolverton bought 761 shares of SilverBow Resources stock in a transaction on Tuesday, January 16th. The shares were purchased at an average cost of $33.01 per share, for a total transaction of $25,120.61. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marcus C. Rowland sold 7,938 shares of SilverBow Resources 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. Over the last ninety days, insiders have purchased 4,118 shares of company stock valued at $122,401.

A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in SilverBow Resources during the fourth quarter worth about $109,000. The Manufacturers Life Insurance Company lifted its holdings in SilverBow Resources by 239.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,937 shares of the company’s stock worth $176,000 after acquiring an additional 4,190 shares in the last quarter. Bank of Montreal Can bought a new position in SilverBow Resources during the fourth quarter worth about $158,000. Wells Fargo & Company MN lifted its holdings in SilverBow Resources by 2.3% during the third quarter. Wells Fargo & Company MN now owns 292,404 shares of the company’s stock worth $7,178,000 after acquiring an additional 6,628 shares in the last quarter. Finally, California Public Employees Retirement System bought a new position in SilverBow Resources during the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 67.03% 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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