SilverBow Resources (NYSE:SBOW) Shares Gap Down to $34.00

SilverBow Resources, Inc. (NYSE:SBOWGet Rating) shares gapped down before the market opened on Monday . The stock had previously closed at $34.00, but opened at $32.70. SilverBow Resources shares last traded at $32.15, with a volume of 218 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SBOW shares. KeyCorp started coverage on shares of SilverBow Resources in a research report on Monday, September 19th. They set an “overweight” rating and a $58.00 price target for the company. TheStreet raised shares of SilverBow Resources from a “c” rating to a “b-” rating in a research report on Tuesday, September 6th.

SilverBow Resources Stock Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $801.38 million, a P/E ratio of 2.47 and a beta of 2.40. The business’s 50-day simple moving average is $32.05 and its 200 day simple moving average is $35.52.

SilverBow Resources (NYSE:SBOWGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.45. The business had revenue of $242.18 million for the quarter, compared to analysts’ expectations of $225.07 million. SilverBow Resources had a net margin of 39.86% and a return on equity of 57.45%. As a group, equities analysts predict that SilverBow Resources, Inc. will post 11.19 earnings per share for the current year.

Insider Transactions at SilverBow Resources

In other news, Director Strategic Value Partners, Llc sold 8,904 shares of SilverBow Resources stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $46.10, for a total transaction of $410,474.40. Following the transaction, the director now owns 4,215,003 shares in the company, valued at approximately $194,311,638.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SBOW. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of SilverBow Resources during the 3rd quarter valued at $31,000. Ellevest Inc. purchased a new position in shares of SilverBow Resources during the 3rd quarter valued at $50,000. Point72 Hong Kong Ltd purchased a new position in shares of SilverBow Resources during the 2nd quarter valued at $61,000. SG Americas Securities LLC purchased a new position in shares of SilverBow Resources during the 2nd quarter valued at $105,000. Finally, Quantbot Technologies LP lifted its stake in shares of SilverBow Resources by 2,243.1% during the 2nd quarter. Quantbot Technologies LP now owns 3,749 shares of the company’s stock valued at $106,000 after buying an additional 3,589 shares in the last quarter.

SilverBow Resources Company Profile

(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.

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