Truist Financial Lowers SilverBow Resources (NYSE:SBOW) Price Target to $55.00

SilverBow Resources (NYSE:SBOW) had its price target dropped by equities research analysts at Truist Financial from $59.00 to $55.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 65.91% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Northland Securities increased their target price on SilverBow Resources from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 15th. TheStreet downgraded SilverBow Resources from a “b-” rating to a “c” rating in a research report on Thursday, November 2nd. KeyCorp increased their target price on SilverBow Resources from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Finally, Pickering Energy Partners began coverage on SilverBow Resources in a research report on Thursday, October 12th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

SilverBow Resources Trading Down 3.2 %

NYSE:SBOW opened at $33.15 on Monday. The company has a market cap of $749.85 million, a P/E ratio of 2.61 and a beta of 2.45. The stock’s fifty day moving average price is $36.00 and its two-hundred day moving average price is $31.93. SilverBow Resources has a 1 year low of $19.13 and a 1 year high of $43.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.70 and a quick ratio of 0.70.

Insider Activity at SilverBow Resources

In related news, Director Marcus C. Rowland acquired 10,000 shares of SilverBow Resources stock in a transaction dated Monday, September 18th. The shares were purchased at an average cost of $37.00 per share, with a total value of $370,000.00. Following the completion of the purchase, the director now owns 29,386 shares of the company’s stock, valued at $1,087,282. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Riposte Capital LLC grew its stake in shares of SilverBow Resources by 70.7% during the second quarter. Riposte Capital LLC now owns 1,700,000 shares of the company’s stock valued at $49,504,000 after buying an additional 704,113 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of SilverBow Resources by 35.8% during the second quarter. BlackRock Inc. now owns 1,227,039 shares of the company’s stock worth $35,731,000 after purchasing an additional 323,413 shares during the period. FMR LLC boosted its holdings in shares of SilverBow Resources by 9.8% during the second quarter. FMR LLC now owns 1,010,070 shares of the company’s stock worth $28,645,000 after purchasing an additional 90,425 shares during the period. State Street Corp boosted its holdings in shares of SilverBow Resources by 333.6% during the third quarter. State Street Corp now owns 1,007,014 shares of the company’s stock worth $27,069,000 after purchasing an additional 774,760 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of SilverBow Resources by 33.2% during the third quarter. Vanguard Group Inc. now owns 713,352 shares of the company’s stock worth $19,174,000 after purchasing an additional 177,934 shares during the period. 87.38% of the stock is owned by institutional investors.

SilverBow Resources Company Profile

SilverBow Resources, Inc, an oil and gas company, engages in exploration, development, acquisition, and operation of oil and natural gas properties in the Eagle Ford shale and Austin Chalk located in South Texas. The company was formerly known as Swift Energy Company and changed its name to SilverBow Resources, Inc in May 2017.