SilverBow Resources (NYSE:SBOW) Coverage Initiated by Analysts at KeyCorp

KeyCorp began coverage on shares of SilverBow Resources (NYSE:SBOWGet Rating) in a report released on Monday morning, The Fly reports. The firm issued an overweight rating on the stock.

Several other equities research analysts have also weighed in on SBOW. TheStreet upgraded SilverBow Resources from a c rating to a b- rating in a research report on Tuesday, September 6th. Truist Financial lifted their price target on SilverBow Resources from $56.00 to $62.00 and gave the company a buy rating in a research report on Tuesday, July 19th.

SilverBow Resources Price Performance

Shares of SBOW stock opened at $31.78 on Monday. The firm has a market cap of $576.81 million, a P/E ratio of 5.91 and a beta of 2.25. SilverBow Resources has a fifty-two week low of $18.98 and a fifty-two week high of $49.91. The business’s 50 day moving average price is $39.17 and its 200-day moving average price is $36.13. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.50.

SilverBow Resources (NYSE:SBOWGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $1.19. The firm had revenue of $182.61 million for the quarter, compared to analyst estimates of $110.00 million. SilverBow Resources had a return on equity of 71.35% and a net margin of 18.28%. On average, equities research analysts anticipate that SilverBow Resources will post 16.72 earnings per share for the current year.

Insiders Place Their Bets

In other SilverBow Resources news, Director Strategic Value Partners, Llc sold 81,448 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $44.47, for a total value of $3,621,992.56. Following the sale, the director now directly owns 4,112,540 shares of the company’s stock, valued at $182,884,653.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SilverBow Resources news, major shareholder Kimmeridge Energy Management C purchased 300,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $8,787,000.00. Following the completion of the purchase, the insider now directly owns 3,281,356 shares of the company’s stock, valued at $96,110,917.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Strategic Value Partners, Llc sold 81,448 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $44.47, for a total value of $3,621,992.56. Following the completion of the transaction, the director now owns 4,112,540 shares of the company’s stock, valued at approximately $182,884,653.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,352 shares of company stock valued at $4,267,717. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Royce & Associates LP purchased a new position in shares of SilverBow Resources in the first quarter worth $1,318,000. Principal Financial Group Inc. purchased a new position in shares of SilverBow Resources in the fourth quarter worth $252,000. IPG Investment Advisors LLC purchased a new position in shares of SilverBow Resources in the fourth quarter worth $980,000. State of Tennessee Treasury Department raised its stake in shares of SilverBow Resources by 106.4% in the first quarter. State of Tennessee Treasury Department now owns 16,508 shares of the company’s stock worth $528,000 after purchasing an additional 8,508 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in SilverBow Resources during the first quarter valued at $312,000.

About SilverBow Resources

(Get Rating)

SilverBow Resources, Inc, an oil and gas company, acquires and develops assets in the Eagle Ford shale and Austin Chalk located in South Texas. As of December 31, 2021, it had proved reserves of 1,416 billion cubic feet of natural gas equivalent. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.

Further Reading

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