SilverBow Resources (NYSE:SBOW) – Seaport Global Securities decreased their Q2 2018 EPS estimates for shares of SilverBow Resources in a research note issued to investors on Tuesday, April 3rd. Seaport Global Securities analyst M. Kelly now expects that the company will post earnings per share of $1.26 for the quarter, down from their previous estimate of $1.52. Seaport Global Securities currently has a “Buy” rating and a $25.00 price target on the stock. Seaport Global Securities also issued estimates for SilverBow Resources’ Q3 2018 earnings at $1.71 EPS, FY2018 earnings at $6.89 EPS and FY2019 earnings at $12.20 EPS.
SBOW has been the subject of a number of other reports. Zacks Investment Research lowered shares of SilverBow Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 21st. ValuEngine lowered shares of SilverBow Resources from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $32.50.
A number of large investors have recently added to or reduced their stakes in SBOW. Strategic Value Partners LLC purchased a new stake in SilverBow Resources in the fourth quarter worth about $133,040,000. Pentwater Capital Management LP lifted its stake in SilverBow Resources by 48.7% in the fourth quarter. Pentwater Capital Management LP now owns 805,223 shares of the company’s stock worth $23,931,000 after acquiring an additional 263,555 shares during the period. State Street Corp purchased a new stake in SilverBow Resources in the second quarter worth about $1,834,000. Bank of New York Mellon Corp lifted its stake in SilverBow Resources by 269.1% in the fourth quarter. Bank of New York Mellon Corp now owns 84,634 shares of the company’s stock worth $2,516,000 after acquiring an additional 61,706 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in SilverBow Resources in the fourth quarter worth about $998,000. 67.03% of the stock is owned by institutional investors.
In other SilverBow Resources news, insider Sean C. Woolverton acquired 761 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was bought at an average cost of $33.01 per share, with a total value of $25,120.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean C. Woolverton acquired 898 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was acquired 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. Insiders have bought 4,141 shares of company stock valued at $123,409 over the last three months.
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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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