Wells Fargo & Company MN lessened its holdings in SilverBow Resources (NYSE:SBOW) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 280,064 shares of the company’s stock after selling 12,340 shares during the quarter. Wells Fargo & Company MN owned 2.42% of SilverBow Resources worth $8,324,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBOW. New York State Common Retirement Fund acquired a new stake in shares of SilverBow Resources during the 2nd quarter valued at $196,000. Northern Trust Corp acquired a new stake in shares of SilverBow Resources during the 2nd quarter valued at $1,762,000. Vanguard Group Inc. acquired a new stake in shares of SilverBow Resources during the 2nd quarter valued at $4,637,000. State Street Corp acquired a new stake in shares of SilverBow Resources during the 2nd quarter valued at $1,834,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of SilverBow Resources during the 2nd quarter valued at $157,000. 67.03% of the stock is currently owned by institutional investors.
In related news, insider Sean C. Woolverton bought 761 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was acquired at an average cost of $33.01 per share, with a total value of $25,120.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sean C. Woolverton bought 898 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $28.11 per share, with a total value of $25,242.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 4,118 shares of company stock valued at $122,401.
Several research firms recently weighed in on SBOW. Zacks Investment Research downgraded SilverBow Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 21st. Seaport Global Securities raised SilverBow Resources from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, December 19th. Finally, ValuEngine raised SilverBow Resources from a “hold” rating to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. SilverBow Resources presently has a consensus rating of “Buy” and an average target price of $32.50.
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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