MetLife Investment Management LLC grew its holdings in shares of Southwestern Energy (NYSE:SWN – Get Rating) by 55.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 541,342 shares of the energy company’s stock after purchasing an additional 193,025 shares during the period. MetLife Investment Management LLC’s holdings in Southwestern Energy were worth $3,881,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Lindbrook Capital LLC boosted its stake in Southwestern Energy by 28.1% in the first quarter. Lindbrook Capital LLC now owns 5,723 shares of the energy company’s stock valued at $41,000 after acquiring an additional 1,254 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Southwestern Energy by 1.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,636 shares of the energy company’s stock valued at $636,000 after purchasing an additional 1,483 shares during the period. D.A. Davidson & CO. grew its stake in Southwestern Energy by 7.2% during the 1st quarter. D.A. Davidson & CO. now owns 24,715 shares of the energy company’s stock worth $177,000 after buying an additional 1,668 shares during the last quarter. Aaron Wealth Advisors LLC acquired a new stake in Southwestern Energy in the first quarter worth $356,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Southwestern Energy in the first quarter valued at $25,000. 82.32% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on SWN. Morgan Stanley lowered their price target on shares of Southwestern Energy from $8.00 to $7.50 and set an “equal weight” rating for the company in a research report on Monday, August 29th. Royal Bank of Canada lifted their price target on Southwestern Energy from $9.00 to $10.00 and gave the company a “sector perform” rating in a report on Monday, August 15th. Benchmark raised Southwestern Energy from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, June 15th. Bank of America upgraded Southwestern Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $13.00 in a research report on Tuesday, July 19th. Finally, The Goldman Sachs Group cut their price objective on shares of Southwestern Energy from $9.50 to $7.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Southwestern Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.36.
Southwestern Energy Price Performance
Southwestern Energy (NYSE:SWN – Get Rating) last announced its earnings results on Thursday, August 4th. The energy company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Southwestern Energy had a positive return on equity of 165.90% and a negative net margin of 8.58%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business earned $0.19 earnings per share. The business’s quarterly revenue was up 294.1% compared to the same quarter last year. On average, research analysts predict that Southwestern Energy will post 1.42 earnings per share for the current fiscal year.
Southwestern Energy announced that its board has initiated a share buyback plan on Tuesday, June 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the energy company to buy up to 13.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Southwestern Energy Profile
Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids (NGLs) in the United States. It operates through two segments, Exploration and Production, and Marketing. The company focuses on the development of unconventional natural gas and oil reservoirs located in Pennsylvania, West Virginia, Ohio, and Louisiana.
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